Bitcoin ETF discussions picked up speed as the SEC held meetings with various exchanges. The committee recently met with the NASDAQ, NYSE, and CBOE exchanges to discuss spot Bitcoin ETFs.
In the last two days alone, companies like VanEck, Fidelity, and Grayscale have also applied for Bitcoin ETFs. The company filed Form 8-a for securities registration. All of this comes in light of expectations that the SEC will announce the first wave of approvals by January 10th.
The document submission process is underway so that applicants can learn about investment products. The process requires a thorough understanding of the securities being offered, distribution dates, application terms and issuance details.
The past few months have been a very busy time for the cryptocurrency community, especially Bitcoin. It all started when rumors spread that BlackRock had received approval from the SEC. The rumor breathed new life into BTC and the coin has been going strong ever since.
Bitcoin is currently trading at $43,653 and has recorded a growth of 1.11% over the last 24 hours. The coin is expected to have major updates in the first quarter of 2024, including ETF approval and the fourth halving. thus, Bitcoin future value prediction It is a popular topic of interest among traders.
Experts expect BTC to hit a new all-time high soon after the first ETF is approved. The upcoming halving will also help the outlook.
After a week of silence, Bitcoin briefly fell below $41,000. As expected, this move surprised investors. However, BTC has since achieved a reversal with the SEC meeting with major exchanges.
Bitcoin is expected to remain strong until it surpasses $45,000. The coin may face resistance around $45,259, but it is unlikely to cause major problems. However, if the expected wave of approvals does not materialize, the coin could easily fall below $40,000 as well.