Approaching Bitcoin ETF S-1 Amendment Deadline
The United States Securities and Exchange Commission (SEC) has set December 29 as the deadline for spot Bitcoin ETF applicants to make changes to their applications. Failure to comply will disqualify applicants from potential approval in the first wave. The announcement followed meetings between the SEC and BlackRock, Grayscale Investments, Fidelity Investments, ARK Invest 21Shares, and others who had filed a Bitcoin ETF application. BlackRock, Hashdex, and Pando have already resubmitted their revised filings. BlackRock’s filing included a proposed $10 million seed funding injection for its spot Bitcoin ETF.
Grayscale and ARK 21Shares have also filed amendments with the SEC for their spot Bitcoin ETF applications.
Bitcoin Price Jumps Amid Likely Approval Sentiments
Despite the approaching deadline, experts remain positive about the potential approval of spot Bitcoin ETF applications. Sam Enzer, a partner at Cahill Gordon & Reinel law firm, believes that the SEC is likely to approve several applications before January 10, 2024. Investor Mike Alfred puts the odds of approval at 98.7% based on recent trends. Meanwhile, Bitcoin’s price has surged to nearly $43,000, and experts predict further gains upon spot Bitcoin ETF approval.
Hot Take: Positive Outlook for Spot Bitcoin ETF Approval
As the deadline for spot Bitcoin ETF S-1 amendments approaches, it is expected that many applicants will submit revised filings to the SEC. Despite this deadline pressure, experts maintain a positive outlook for approval of these applications. With major players like BlackRock and Grayscale making significant investments in their proposed ETFs, there is growing confidence in the likelihood of approval. Additionally, the recent surge in Bitcoin’s price further supports sentiments of approval. The crypto community eagerly awaits the SEC’s decision, which could have a significant impact on the market and the future of Bitcoin ETFs.
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