Indications Suggest SEC May Postpone Bitcoin ETF Spot

The US Securities and Exchange Commission (SEC) provided feedback on the form S-1 submissions from applicants seeking approval for spot Bitcoin ETFs.

Indications Suggest Sec May Postpone Bitcoin Etf Spot_65d5d020e31d2.webp

In a surprising twist, the United States Securities and Exchange Commission (SEC) has provided additional comments on the pending form S-1s submitted by applicants seeking approval for spot Bitcoin ETFs. This unexpected move occurred amidst widespread anticipation of an approval announcement leading up to the January 10, 2024 deadline.

The question now is whether this recent development signals a potential delay in the approval process. Perianne Boring, the President and founder of the Chamber of Digital Commerce, interprets it as a delay indication from the SEC. On the contrary, Bloomberg analyst James Seyffart offers a different perspective, suggesting that the issuance of additional comments may not necessarily be an indication of a deliberate delay in approving the ETF. Seyffart notes the unusual speed at which the SEC is handling the situation, emphasizing that the agency provided comments on the same day the form S-1s were submitted, reflecting the SEC’s prompt approach to Bitcoin ETF applications.

“This simply highlights how rapidly the SEC is processing these matters. If they intended to delay, the issuers wouldn’t have received comments back the same night.”

As the SEC officials approach the January 10, 2024 deadline, a crucial decision looms regarding the approval or rejection of the Ark 21Shares spot Bitcoin ETF filing. This filing marked one of the initial applications, paving the way for others from major entities such as Blackrock, Fidelity, Bitwise, Van Eck, and Valkyrie.

Related: Standard Chartered Predicts $200,000 BTC By End Of 2025

What’s on the Horizon?

As ETF issuers diligently address the necessary paperwork, the most recent wave of 19b-4s refiles has been submitted by a total of 9 issuers. Notably, as of 8 am Eastern Time on January 8, 2024, Blackrock’s refile for its iShares Bitcoin ETF was reportedly missing. Analysts, however, remain optimistic, suggesting that the approval is likely forthcoming, considering the potential for later amendments. The looming question now is whether the US SEC officials will adhere to the January 10 deadline for approving the first-ever spot Bitcoin ETF in the United States.

5.0/5

(100 votes)

Latest

Azcnews Breaking Bitcoin Rebounds Near Ath As Sths Sell At A Loss

News | Analytics | Bitcoin | Editor Choice

Bitcoin Rebounds Near ATH as STHs Sell at a Loss

Bitcoin has surged back, hitting a peak of $107,000 in the past 24 hours, as the STH group ended its losing streak.

Azcnews Bitcoin Dips Slightly After Trump's Official Inauguration

News | Bitcoin | Editor Choice

Bitcoin Dips Slightly After Trump’s Official Inauguration

Bitcoin has slightly dropped from its all-time high to below $102K, after Donald Trump officially became the 47th President of the United States.

Azcnews Bitcoin Hits New Ath Driven By Trump Mania

News | Bitcoin | Editor Choice

Bitcoin Hits New ATH Driven by TRUMP Mania

Bitcoin hits record high of $109,241 as US prepares for crypto-friendly President-elect Donald Trump's inauguration The cryptocurrency surged 5.5% amid excitement over Trump's meme coins, although the market later fell.

Azcnews Bitcoin Pulls Back To $99k As Trump Prepares For Inauguration

News | Bitcoin | Editor Choice

Bitcoin Pulls Back to $99K as Trump Prepares for Inauguration

Bitcoin has corrected quite strongly, as President Donald Trump is about to officially take office.

Azcnews Cryptoquant Predicts Bitcoin To Surge To $249k

News | Analytics | Bitcoin | Editor Choice

CryptoQuant Predicts Bitcoin to Surge to $249K

Bitcoin has surged to $100,000 with positive signs suggesting the uptrend is back.