Bloomberg Readies for Trading Bitcoin ETFs, Awaits SEC's Approval
Summary:
Anticipation is high among news outlets and traders for the US Securities and Exchange Commission's approval of Bitcoin (BTC) exchange-traded funds (ETFs). Bloomberg senior ETF analyst, Eric Balchunas, confirmed readiness for trading, with 11 proposed BTC ETFs listed on Bloomberg Terminal. The approval is expected to come between 4:00 pm and 6:00 pm ET, with trading commencing on the 11th of January.
Observer eyes in the news industry are eagerly awaiting the nod of approval from the United States Securities and Exchange Commission for Bitcoin (BTC) exchange-traded funds (ETFs), much like the traders themselves. “Happy ETF Approval Day,” was the message pushed out on X (priorly known as Twitter) on January 10 by Eric Balchunas, a distinguished ETF analyst with Bloomberg. He announced eagerly that everything was set and ready-to-go at Bloomberg.
Later the same day, it was circulated on X that the news corporation was fully set to begin trading, with all 11 proposed BTC ETFs incorporated onto the Bloomberg Terminal, a real-time software providing news and analytical data. An immediate announcement came in— Bloomberg terminal now has all 11 #Bitcoin ETFs listed as “pending listing”: @JoeConsorti!
Balchunas anticipated that the green signal could come from the SEC between the hours of 4:00 pm and 6:00 pm ET (9:00 pm and 11:00 pm UTC) and trading would commence from January 11.
His associate at work, James Seyffart stated, “I’m on standby for the green light on the 19b-4 Bitcoin ETF approval orders. Once those roll-in, it’s essentially a sealed deal.” At this point, it did not look like that had occurred.
However, amendments to Form 19b-4 were filed by all 11 BTC ETF applicants on January 5. This specific form is generally filed by a clearance house to intimate the SEC about any changes affecting its risk level. This is usually one of the final stages in the approval procedure. News Stand: 10 must-read lengthy articles on crypto for 2023.
Published At
1/10/2024 10:38:07 PM
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