Spot Bitcoin ETF Issuers Must Be Patient Until Next Week to Launch New ETF

Key Points:

• Spot Bitcoin ETF issuers must wait until next week pending SEC approval of final filings, including altered 19b-4 and S-1 forms.
• FOX Business hints at a potential SEC decision on BTC spot ETFs next week, with varying timelines for different applications.
• Anticipated 19b-4 approvals by mid-to-late next week may lead to trading by Thursday or Friday.

Prospective spot Bitcoin ETF issuers are poised to commence trading as early as next week, pending approval from the Securities and Exchange Commission (SEC), reports The Block.

Spot Bitcoin ETF Issuers Continue Waiting for Pending SEC Nod Next Week

Prior to this, issuers and exchanges are diligently preparing final filings. Grayscale Investments, over the next three business days, aims to submit an amended form 19b-4. This step is crucial as the initial paperwork, filed months ago, requires an update. The amended filing is anticipated to be accessible in the rulemaking section of the NYSE website.

FOX Business Network’s senior reporter, Charles Gasparino, has indicated that guidance on the SEC decision regarding the BTC spot ETF suggests an announcement is expected next week. Gasparino notes potential variations in timelines based on when applications were submitted or whether the SEC opts for a collective decision.

Additionally, prospective spot Bitcoin ETF issuers must complete the filing of final S-1 forms, detailing fees, identifying authorized participants, and eliminating any bracketed items, according to insider sources.

For spot Bitcoin ETFs to go live, the SEC must approve outstanding 19b-4 forms for each fund, which are expected to be initially visible on the SEC’s website. Simultaneously, the S-1 forms must become effective, although approvals may not align.

Anticipated 19b-4 approvals are projected for mid-to-late next week, with potential trading commencement by Thursday or Friday. However, a note of uncertainty remains, especially for spot Bitcoin ETFs with later deadlines, such as BlackRock‘s, extending until March.