In a pivotal update, the U.S. Securities and Exchange Commission has set a final amendment deadline for physical Bitcoin ETF applications, signaling potential approvals by early 2024.
This detailed article delves into the SEC's recent discussions with industry leaders and explores the implications for the cryptocurrency market, featuring insights from top companies like BlackRock and ARK Invest.
Contents
SEC Sets December 29, 2023, as Final Amendment Deadline
Last week, representatives from several companies aiming to launch a physical Bitcoin ETF met with the U.S. Securities and Exchange Commission (SEC).
During this meeting, the SEC set December 29, 2023, as the final amendment deadline for the physical Bitcoin ETF applications, as reported by Reuters and others.
On Thursday of last week, the SEC discussed with representatives of more than seven companies that have applied for a Bitcoin physical ETF.
Included among these companies were BlackRock, Grayscale, ARK Invest, and 21Shares, as reported.
Two executives from the participating companies revealed the final amendment deadline, stating, "Companies failing to meet the December 29, 2023 deadline are unlikely to be part of the first wave of physical Bitcoin ETF approvals scheduled for early January 2024."
Approval Within the First Few Business Days of 2024?
The SEC is reportedly set to decide on the joint proposal from ARK and 21 Shares by January 10, 2024.
"Most issuing companies expect the SEC to give the green light to multiple applications simultaneously within a few days of the deadline," it has been reported.
Recently, several companies have predicted that physical Bitcoin ETFs will be approved in 2024, with some even releasing commercials for their upcoming ETF launches.
According to Reuters, two executives who attended the meeting with the SEC suggested that the SEC might approve physical Bitcoin ETFs within the first few business days of 2024.
The SEC is likely to directly inform issuing companies of the effective date for the approved ETFs, and the proposed ETFs could be rolled out on that date.
>> Click here for the latest articles on ETFs.
-
Hong Kong Securities Commission Ready to Accept Applications for Cryptocurrency Spot ETFs
Read about the Hong Kong Securities and Futures Commission's readiness to accept cryptocurrency spot ETF applications, a move that could transform the crypto market. Understand the implications of this policy update and the heightened anticipation in the global finance sector, especially with the potential influx of investment in the near future. Contents1 Hong Kong Securities and Futures Commission Announces Readiness for Cryptocurrency Spot ETF Applications2 Increasing Inquiries and Policy Review by SFC and HKMA3 Anticipation in the Cryptocurrency Industry and Experts’ Views Hong Kong Securities and Futures Commission Announces Readiness for Cryptocurrency Spot ETF Applications The Hong Kong Securities and ...
続きを見る