Bloomberg Gears Up for Potential SEC Approval of Bitcoin ETFs
Summary:
Bloomberg prepared for possible SEC approval of Bitcoin ETFs as both traders and news outlets keenly await the decision. The SEC could approve all 11 proposed BTC ETFs, leading to trading starting from Jan 11. However, at the current moment, the approval has yet to be confirmed. All BTC ETF applicants filed amendments on Jan 5, indicating the nearing end of the approval process.
Attention is focused on the United States Securities and Exchange Commission's (SEC) potential approval of a Bitcoin (BTC) exchange-traded fund (ETF). This decision is eagerly anticipated by both news outlets and traders alike. Eric Balchunas, a senior ETF analyst at Bloomberg, stimulated this anticipation by posting on social media that everything is ready for ETF approval on Jan 10. Numerous reports emerged later that day stating that Bloomberg service is fully equipped for trading all 11 proposed BTC ETFs on its terminal. Such a terminal provides real-time news and data analysis.
Balchunas suggests that the SEC could make the approval somewhere between 4:00-6:00 p.m. ET, leading to trade commencement on Jan 11. James Seyffart, another Bloomberg analyst, echoed this expectation, expressing that once the Bitcoin ETF approval orders are seen, it's a sealed deal. At the moment, however, this seems not to have happened. Each of the 11 BTC ETF applicants had submitted Form 19b-4 amendments on Jan 5. This form is submitted by a clearing house to inform the SEC about any intended changes which might affect its risk factor. The submission of this form typically indicates the impending completion of the approval procedure.
Published At
1/10/2024 10:38:07 PM
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