SEC's Acceptance of Filings Hints at Potential Approval of Bitcoin Spot ETF
Summary:
The US SEC has started accepting filings from exchanges, indicating possible approval of a Bitcoin Spot ETF. Nasdaq filed 19b-4 amendment submissions for applications from BlackRock and Valkyrie on January 5. Completion of required S-1 documents is still awaited. Experts predict final approval may precede the deadline for ARK Invest and 21Shares' offering on January 10. This move could signal broader global cryptocurrency acceptance. Further developments will be reported as they occur.
In a move indicative of potential approval of a Bitcoin Spot Exchange-Traded Fund, the US Securities and Exchange Commission (SEC) has commenced accepting submissions from exchanges. On 5th January, Nasdaq Stock Market put forward 19b-4 amendment submissions for Bitcoin Spot ETF applications, put forth by BlackRock and Valkyrie, with more likely to follow suit. These submissions signify one of the closing stages in the SEC’s approval process, though for the listing of investment securities shares with direct exposure to cryptocurrency, the completion of S-1 documents by American exchanges is a prerequisite.
Predictions from industry experts suggest that the final green light for the Bitcoin Spot ETFs might come before January 10th—a deadline set for a proposal put forward by ARK Invest and 21Shares. An approval would imply a broader acceptance of cryptocurrency in the USA and globally. Confirmation of the first 19b-4 amendment submission came from a tweet: " Here we go"
Further updates on this ongoing story will be provided as and when they are available.
Published At
1/6/2024 1:14:59 AM
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