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Spot Bitcoin ETF Filings Must Be Revised According To New Requirements By Dec 29

December 23, 2023 - Around 2 mins mins to read

Key Points:

  • SEC officials meet with firms like BlackRock and Grayscale aiming to launch spot Bitcoin ETFs in early 2024.

  • Two companies were instructed to submit final changes for spot Bitcoin ETF filings by December 29.

  • Companies update their spot Bitcoin ETF filings in anticipation of approvals.

In a pivotal week of discussions, U.S. Securities and Exchange Commission (SEC) officials engaged with representatives from seven companies aiming to launch spot Bitcoin exchange-traded funds (ETFs) in early 2024.\

Spot Bitcoin ETF Filings Must Be Revised According To New Requirements By Dec 29

Read more: BlackRock’s 6th Meeting Hints at SEC Approval for Bitcoin ETF!

SEC Consultations Propel Spot Bitcoin ETF Filings

Notable participants included BlackRock, Grayscale Investments, ARK Investments, and 21Shares. Public memos and insiders revealed that at least two companies were instructed to submit final changes by December 29, signaling a push for swift regulatory decisions.

Among the key players, ARK Investments and 21Shares await an SEC decision by January 10 on their joint proposal. Industry insiders anticipate a simultaneous approval of several applications shortly before this deadline.

According to Reuters, meeting attendees, which included Nasdaq and Cboe representatives, were informed that failure to meet the December 29 deadline would exclude issuers from the initial wave of spot Bitcoin ETF approvals in early January.

Historically, the SEC has rejected spot Bitcoin ETF applications, citing concerns about market manipulation. However, recent developments, including a federal appeals court decision in August favoring Grayscale’s proposed ETF conversion, have signaled a potential shift in regulatory stance.

Insiders, speaking on condition of anonymity, disclosed that the SEC hinted at granting approvals in the first business days of 2024. The agency would notify issuers directly about the effective date of their ETF launch request, allowing for a synchronized rollout.

In response to regulatory requests, BlackRock and ARK updated their spot Bitcoin ETF filings this week, accommodating cash redemptions. This proactive move aligns with a broader trend of issuers refining technical details in anticipation of potential spot Bitcoin ETF approvals.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Bitcoin

Blackrock

BTC

Grayscale

SEC

Spot Bitcoin ETF

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Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.
Bitcoin

Spot Bitcoin ETF Filings Must Be Revised According To New Requirements By Dec 29

Key Points:

  • SEC officials meet with firms like BlackRock and Grayscale aiming to launch spot Bitcoin ETFs in early 2024.

  • Two companies were instructed to submit final changes for spot Bitcoin ETF filings by December 29.

  • Companies update their spot Bitcoin ETF filings in anticipation of approvals.

In a pivotal week of discussions, U.S. Securities and Exchange Commission (SEC) officials engaged with representatives from seven companies aiming to launch spot Bitcoin exchange-traded funds (ETFs) in early 2024.\

Spot Bitcoin ETF Filings Must Be Revised According To New Requirements By Dec 29

Read more: BlackRock’s 6th Meeting Hints at SEC Approval for Bitcoin ETF!

SEC Consultations Propel Spot Bitcoin ETF Filings

Notable participants included BlackRock, Grayscale Investments, ARK Investments, and 21Shares. Public memos and insiders revealed that at least two companies were instructed to submit final changes by December 29, signaling a push for swift regulatory decisions.

Among the key players, ARK Investments and 21Shares await an SEC decision by January 10 on their joint proposal. Industry insiders anticipate a simultaneous approval of several applications shortly before this deadline.

According to Reuters, meeting attendees, which included Nasdaq and Cboe representatives, were informed that failure to meet the December 29 deadline would exclude issuers from the initial wave of spot Bitcoin ETF approvals in early January.

Historically, the SEC has rejected spot Bitcoin ETF applications, citing concerns about market manipulation. However, recent developments, including a federal appeals court decision in August favoring Grayscale’s proposed ETF conversion, have signaled a potential shift in regulatory stance.

Insiders, speaking on condition of anonymity, disclosed that the SEC hinted at granting approvals in the first business days of 2024. The agency would notify issuers directly about the effective date of their ETF launch request, allowing for a synchronized rollout.

In response to regulatory requests, BlackRock and ARK updated their spot Bitcoin ETF filings this week, accommodating cash redemptions. This proactive move aligns with a broader trend of issuers refining technical details in anticipation of potential spot Bitcoin ETF approvals.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.