Bitcoin ETF race nears the finish line
All 11 Bitcoin ETF applicants have submitted their final amendments, bringing the Bitcoin ETF race closer to the finish line. The SEC has instructed exchanges and issuers to submit their amendments by Friday, with a vote from SEC commissioners expected next week.
Bitcoin ETF requirements aligned with SEC
Various Nasdaq and NYSE filers, including BlackRock’s iShares and Valkyrie Bitcoin Fund, have submitted their amended documents. Filers associated with CBOE, such as Invesco Galaxy and VanEck, have also completed their submissions. However, these filings do not guarantee approval but represent progress in the process. The final S-1s are due on Monday, indicating a potential January 11 launch.
The SEC’s consultation with the applicants suggests that there is no additional feedback, indicating alignment of requirements for the launch.
Dissent from consumer groups
Consumer groups have expressed concerns about spot Bitcoin ETFs. Public comments submitted to the SEC have increased, with some advocating for the rejection of all spot Bitcoin ETFs. Better Markets, a consumer protection group, argues that the Grayscale court decision should not influence the SEC’s previous stance of denying multiple spot Bitcoin-based ETPs.
Hot Take: A crucial moment for Bitcoin ETFs
This flurry of activity indicates an important moment for Bitcoin ETFs. With the final decision potentially coming after the weekend, it remains to be seen how the SEC will proceed with approving or rejecting the applications.
By
By
By
By
By
By