Four Major Bitcoin ETF Issuers Engage in Meetings with SEC
In recent days, four prominent Bitcoin (BTC) exchange-traded fund (ETF) issuers have had meetings with the Securities and Exchange Commission (SEC). These issuers have actively discussed their Bitcoin-related filings with the SEC, raising hopes for the approval of spot Bitcoin ETFs soon. Among the companies involved, BlackRock stands out as it met with federal regulators for the third time in as many weeks. Grayscale, Franklin, and Fidelity also had meetings with the SEC last week, indicating the growing interest and efforts surrounding Bitcoin ETF applications.
BlackRock’s Repeated Meetings with SEC Spark Optimism
BlackRock’s repeated meetings with the SEC have sparked optimism. Rachel Aquirre, head of all US iShares, was present in the recent meeting, which is particularly significant. The fact that market makers were not invited to these meetings has raised questions. Valkyrie’s Steven McClurg expressed optimism about progress made in the spot ETF race and stated that the Valkyrie products are ready for launch with the necessary infrastructure in place. Analysts have identified January 10 as a possible date for batch approvals.
SEC Expected to Approve Spot Bitcoin ETFs
The SEC has historically denied or delayed spot Bitcoin ETFs due to concerns over market manipulation and investor protection. However, following a lawsuit loss to Grayscale Investments in August, the agency began collaborating more closely with firms to explore bringing such funds to the market. Many believe that the SEC will approve multiple applications simultaneously to prevent any single firm from gaining a first-mover advantage. Cantor Fitzgerald analysts also believe that the long-awaited spot BTC ETF is getting closer to reality. The SEC is currently evaluating 13 applications for spot BTC ETFs.
Hot Take: Bitcoin ETF Approval on the Horizon
With four major Bitcoin ETF issuers engaging in meetings with the SEC, there is growing optimism for the approval of spot Bitcoin ETFs. These meetings indicate increased interest and efforts surrounding Bitcoin ETF applications. BlackRock’s repeated meetings and the presence of key individuals like Rachel Aquirre add to the positive outlook. Analysts believe that batch approvals may occur as early as January 10, signaling a significant step forward for the cryptocurrency industry. As the SEC collaborates with firms and explores bringing Bitcoin ETFs to the market, it seems that the long-awaited approval is finally within reach.
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