SEC Meeting With Exchanges to Discuss Spot Bitcoin ETFs
The U.S. Securities and Exchange Commission (SEC) held meetings with officials from major exchanges, such as the New York Stock Exchange (NYSE), Nasdaq, and Chicago Board Options Exchange (CBOE), to discuss spot bitcoin exchange-traded funds (ETFs). The exchanges were asked to finalize their filings on behalf of spot bitcoin ETF issuers, as these filings need SEC clearance before the ETFs can be sold to the public. Sources close to the proceedings suggest that the SEC could start notifying issuers of approval on Friday, with trading potentially beginning next week.
Positive Signs for Spot Bitcoin ETF Approval
There are positive signs that the SEC will approve spot bitcoin ETFs. Techcrunch reporter Jacquelyn Melinek shared on social media that the SEC is expected to approve the ETFs for multiple firms, while Bloomberg analyst James Seyffart believes an announcement regarding approval will be made early next week. The number of spot bitcoin ETF applicants filing 8-A forms with the SEC has also increased. Although these forms do not equal approval, they are part of the normal preparation process. Bloomberg ETF analyst Eric Balchunas stated that a spot bitcoin ETF approval is imminent. However, no official approval has been announced at this time.
Hot Take: Spot Bitcoin ETF Approval Expected Soon
The U.S. SEC’s recent meetings with major exchanges to discuss spot bitcoin ETFs have raised hopes of approval. The SEC has requested that the exchanges finalize their filings on behalf of spot bitcoin ETF issuers, indicating progress towards potential approval. Reports mention that the SEC could soon start notifying issuers of approval, potentially allowing trading to begin next week. Industry experts have shown optimism, with expectations of an announcement regarding spot bitcoin ETF approval in the coming days. The increasing number of spot bitcoin ETF applicants filing with the SEC further suggests positive developments. While no official approval has been announced, the signs point towards an imminent approval of spot bitcoin ETFs.
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