Final Applications for Bitcoin ETFs Are Received Major U.S. Exchanges posted

HgNe...JCYP
6 Jan 2024
22

By releasing them, they seem to be optimistic that the SEC will soon approve the first Bitcoin ETFs available in the US.

Exchange-traded funds (ETFs) that will offer U.S. spot bitcoin look to be about to launch after the exchanges filed updated filings indicating they anticipate approval from the U.S. Securities and Exchange Commission in the coming days. In response to comments from the U.S. Securities and Exchange Commission (SEC), the modified 19b-4 filings were submitted on behalf of BlackRock, Grayscale, Fidelity, and other issuers. They were filed in addition to the amended S-1 filings from last month. With over a dozen applicants, it is anticipated that many issuers would be approved at the same time in an attempt to introduce the first spot bitcoin ETFs in the United States. People from two separate issuers informed CoinDesk on Thursday that they expect approvals at some point next week.
Although they were hopeful, one of the people informed CoinDesk that filing the modifications did not ensure approval. The regulator may accept all final applications it is comfortable with before January 10, which is the final deadline for SEC action for at least one application, submitted by Ark 21 Shares. Regarding the company's bitcoin trust that it wishes to convert into an ETF, Grayscale spokeswoman Jenn Rosenthal said in a statement that this filing "is another important step towards uplisting GBTC as a spot bitcoin ETF." "At Grayscale, we continue to work collaboratively with the SEC, and we remain ready to operate GBTC as an ETF upon receipt of regulatory approvals."
Bloomberg said earlier on Friday that the commissioners of the SEC were "expected to vote on the exchange-rule filings next week." Before the ETFs may go live, the regulatory agency must accept both the S-1 and 19b-4 filings.

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