Eleven spot Bitcoin exchange-traded funds (ETFs) are awaiting approval from the U.S. Securities and Exchange Commission (SEC). A proposed rule change to list and trade all 11 spot Bitcoin ETFs on the stock exchange has been submitted to the SEC. “It’s basically over,” one ETF analyst said, adding that securities regulators are “trying to get everyone lined up for a January 11th launch.”
Bitcoin ETF Decision Loom: Analyst Says ‘It’s Basically Done’
The U.S. Securities and Exchange Commission (SEC) was flooded with proposals on Friday to list and trade 11 spot Bitcoin exchange-traded funds (ETFs), amid heightened speculation that securities regulators’ imminent approval of spot Bitcoin ETFs .
Bloomberg News, citing two people familiar with the matter, reported that “SEC staff have not received additional feedback on several companies’ paperwork since the recent revisions.” Form 19b-4 is used to propose rule changes that would allow spot Bitcoin ETFs to be traded on a stock exchange.
Bloomberg analyst James Seyffart shared The X Friday afternoon list indicates that the modified 19B-4 form was submitted to the SEC for all 11 in-kind Bitcoin ETF applicants. “All 11 of these Bitcoin ETF filers are still in the Cointucky Derby,” he wrote.
But analysts warned: “We haven’t crossed the finish line yet. But we’re close. We need to confirm approval of the revised documents (expected to come out next week). The S-1 document should then become effective (which could also happen next week). Then the deal is done.”
Commenting on Friday’s developments, Bloomberg ETF analyst Eric Balchunas said: gave an opinion At X:
You’re basically done. I’ve recently heard from multiple sources that the final S-1 is due Monday at 8 a.m. as the SEC tries to get everyone lined up for a January 11 release.
“But I still want to hear this officially from the SEC,” he said. S-1 is a prospectus document for a spot Bitcoin ETF.
SEC members are expected to vote on the exchange’s regulatory filing next week, Bloomberg News reported, citing another source familiar with the process. The publication explained that once the SEC approves the 19b-4 filing and the issuer approves the final S-1 filing, the spot Bitcoin ETF could begin trading the next business day.
Do you think the SEC will approve all 11 spot Bitcoin ETFs next week? Let us know in the comments section below.
Source: Bitcoin.com