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SEC Sets Dec. 29 Deadline for Final Amendments on Spot Bitcoin ETF Applications

SEC Sets Dec. 29 Deadline for Final Amendments on Spot Bitcoin ETF Applications

2023/12/25 18:21

According to Cointelegraph: The United States Securities and Exchange Commission (SEC) has issued a deadline for final S-1 amendments to spot Bitcoin ETF applicants, dropping the cut-off on Dec. 29. Those who don't conform to the deadline will not make the first wave of potential approvals curtain-raising in early January.

On Dec. 21, SEC official representatives met with at least seven firms, including BlackRock, Grayscale Investments, ARK Investments, and 21 Shares, aiming to launch spot Bitcoin ETFs in the early phases of 2024. The meetings also hosted representatives of potential listing exchanges such as Nasdaq and the Chicago Board Options Exchange, lawyers, and issuers.

Whispers around the event shared that the SEC required these Bitcoin ETF applicants to reference authorized participants (APs) in their filings. These applicants are also advised to switch their S-1 filings to the cash redemption model. This hefty step may impact some from lifting off—though seven firms have already adapted their redemption model strictly to cash.

Despite this last-minute hoop jumping, Bloomberg analysts remain optimistic about the SEC granting approval for the first spot Bitcoin ETFs by Jan. 10.
 

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