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Bitcoin:
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BTC Dominance:
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Market Cap:
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SEC Sets Deadline for ETFs

SEC

The U.S. Securities and Exchange Commission (SEC) has asked all spot Bitcoin ETF applicants to submit their final S-1 amendments by December 29th if they want to be considered for the first wave of approvals. Fox Business reporter Eleanor Terrett shared the update on her Twitter account.

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She said that applications that are complete and filed by Friday will be considered in the first wave. Otherwise, they will not be considered. Also, the applications cannot mention physical creation; otherwise, they will be denied.

Applying Companies

  • BlackRock
  • Grayscale
  • ARK Investments
  • 21Shares
  • At least seven other companies have submitted proposals for a spot Bitcoin ETF in the U.S.

This development came immediately after a meeting between representatives of the companies.

SEC Expected to Approve Bitcoin ETFs in Q1 2024

Based on the rhetoric coming out of the meeting, it looks like the SEC is likely to approve Bitcoin ETFs in the first quarter of 2024.

The SEC is currently reviewing the joint proposal from ARK and 21Shares. However, it will make a final decision by January 10, 2024. It has instructed firms to make final changes to their applications by December 29th. Also, it warned that those who do not meet the December 29th deadline will not be considered in the first potential approval wave, which is scheduled to take place in early January 2024.


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