tl;dr
:The pending approval from the Securities and Exchange Commission (SEC) for spot Bitcoin Exchange-Traded Funds (ETFs) marks a pivotal moment in integrating cryptocurrency into mainstream financial markets. Grayscale Investments and other top firms are finalizing submissions in anticipation of the SE...
The pending approval from the Securities and Exchange Commission (SEC) for spot Bitcoin Exchange-Traded Funds (ETFs) marks a pivotal moment in integrating cryptocurrency into mainstream financial markets. Grayscale Investments and other top firms are finalizing submissions in anticipation of the SEC’s crucial approval for market entry, signaling a notable shift in the cryptocurrency investment landscape.
According to a post on X by Nate Geraci, Grayscale Investments will submit an amended form 19b-4 in the next three working days. This move is essential, as their previous paperwork now requires updating. This vital filing will appear initially on the NYSE website’s rulemaking section. For these spot bitcoin ETFs to commence trading, the SEC must approve each fund’s outstanding 19b-4 forms. These approvals are likely to be first visible on the SEC’s website. Additionally, the S-1 forms need to become effective. However, the approvals of these separate forms might not coincide, adding a layer of complexity to the timeline.
Sources predict that the 19b-4 approvals could arrive mid-to-late next week, hinting at a possible start of trading by Thursday or Friday. However, there remains uncertainty, especially considering some ETFs, like BlackRock, don’t face deadlines until March. In the last 2 days, multiple prospective spot bitcoin ETF issuers, including Fidelity, Grayscale, Ark Investments, Valkyrie and VanEck, have filed Form 8-As. This development is a significant stride forward, indicating that these issuers are ready to trade on an exchange once their products receive approval.
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