Spot Bitcoin ETFs issuers get final deadline to change applications

2024-01-08 00:17:27

Companies that applied to launch a spot Bitcoin (BTC) ETF were given a deadline to make any changes to their pending applications.

According to Bloomberg, potential Bitcoin ETF issuers were allowed to make changes until Monday morning, Jan. 8. The US Securities and Exchange Commission (SEC) has until Jan. 10 to take action on at least one of these statements.

Sources familiar with the matter believe the regulator will use this data to make multiple decisions.

The SEC also plans to vote on 19b-4 filings from exchanges that will list ETFs in the coming days. The regulator may or may not take action on S-1 filings, which are registration applications from potential issuers, around the same time. ETFs could begin trading as early as the next business day if the SEC grants both sets of required approvals.

On Aug. 31, 2023, the SEC delayed its decision on several Bitcoin funds until at least mid-October. At the end of September 2023, the department postponed the consideration of applications to January 2024.

Speculation is running high in the cryptocurrency community regarding the SEC’s expected decision this week regarding a spot Bitcoin ETF.

The SEC is expected to rule on the ARK 21Shares spot Bitcoin ETF application on Jan. 10. The deadline for applications from other asset managers, including investment giant BlackRock, will come soon after.

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