SEC Sets Deadline for Spot Bitcoin ETF Applicants — 3 Days Left to Update Filings for Early January Decision

The U.S. Securities and Exchange Commission (SEC) has reportedly acceptable a deadline of Dec. 29 for spot bitcoin ETF applicants to finalize their filing amendments. According to reports, the SEC has told spot bitcoin ETF issuers that applications that are afloat updated and filed by this Friday volition beryllium considered successful the archetypal question of its spot bitcoin ETF decision.

SEC’s Spot Bitcoin ETF Deadline

The U.S. Securities and Exchange Commission (SEC) reportedly instructed spot bitcoin exchange-traded money (ETF) applicants during their meetings past week to finalize the amendments to their registration statements (S-1s) by Dec. 29 to beryllium considered successful the archetypal question of spot bitcoin ETF decision.

Fox Business writer Eleanor Terrett shared connected societal media level X connected Dec. 24:

Confirming the day for last amendments to each S-1s by Friday the 29th. The SEC has told issuers that applications that are afloat finished and filed by Friday volition beryllium considered successful the archetypal wave. Anyone who is not volition not beryllium considered.

Moreover, she noted that the SEC has emphasized to the applicants that their spot bitcoin ETF filings cannot notation the in-kind instauration method oregon the applications volition not beryllium considered. The regulator has pushed for the usage of the currency instauration method. “The filings cannot notation in-kind instauration oregon they volition beryllium rejected,” Terrett wrote.

Blackrock, the world’s largest plus manager, and respective different spot bitcoin ETF applications person argued for the usage of the in-kind model. However, failing to person the SEC with its revised in-kind model, Blackrock adopted the currency instauration exemplary successful its latest amendment.

SEC officials held meetings past Thursday with representatives from astatine slightest 7 companies seeking to motorboat a spot bitcoin ETF aboriginal adjacent year, Reuters reported, citing nationalist memos and insiders. Key participants successful these discussions included Blackrock, Grayscale Investments, ARK Invest, and 21shares, the quality outlet conveyed, adding that the meetings besides included representatives from exchanges wherever the spot bitcoin ETFs could beryllium traded, specified arsenic Nasdaq and Cboe.

Executives from 2 companies who engaged with the SEC connected Thursday told the work that the regulator suggested during the gathering that support for the projected ETFs could travel successful the archetypal fewer concern days of 2024. They noted that the issuers would beryllium straight notified of the effectual day for their ETF motorboat requests. The archetypal deadline for a spot bitcoin ETF determination adjacent twelvemonth is Jan. 10 for a associated spot bitcoin ETF connection from Ark and 21shares.

There are presently 13 spot bitcoin ETF applications pending astatine the SEC. Many expect the regulator to o.k. aggregate spot bitcoin ETFs astatine once. Blackrock precocious revealed its program to effect its spot bitcoin ETF with $10 cardinal connected Jan. 3. Former SEC net enforcement main John Reed Stark said approving spot bitcoin ETFs could beryllium SEC Chair Gary Gensler’s legacy. Gensler issued a warning astir investing successful crypto past week amid soaring anticipation of spot bitcoin ETF approval.

What bash you deliberation astir the SEC mounting Dec. 29 arsenic the deadline for spot bitcoin ETF applicants? Do you deliberation the regulator is preparing to o.k. aggregate spot bitcoin ETFs successful aboriginal January? Let america cognize successful the comments conception below.