In a significant development in the cryptocurrency space, major US exchanges have filed amended documents for their Bitcoin exchange-traded fund (ETF) applications

This suggests a potential approval from the Securities and Exchange Commission (SEC) in the coming days.

This development signifies a noteworthy milestone in the long-standing effort to introduce Bitcoin-based Exchange-Traded Funds (ETFs) to the US market, a journey spanning over a decade.

Details of the Filings

The amended 19b-4 filings were filed on behalf of prominent issuers such as BlackRock, Grayscale, and Fidelity, joining last month's amended S-1 filings that addressed feedback from the SEC. Over a dozen applicants are vying to launch the first spot Bitcoin ETFs in the US, with multiple issuers expected to be approved simultaneously.

Sources

According to sources familiar with the matter, the exchanges anticipate approvals sometime next week. An individual familiar with the matter revealed that filing the amendments did not guarantee approval but expressed optimism. Another source confirmed that the filings did not necessarily mean approvals were guaranteed but noted that the exchanges were hopeful.

The submission of revised documents by major US exchanges for their Bitcoin ETF applications is a noteworthy development in the cryptocurrency realm.

Anticipation is building for the simultaneous approval of multiple issuers, bringing the launch of the first spot Bitcoin ETFs in the US ever closer.

While success is not assured, the positive sentiment from various sources indicates that this milestone represents a substantial stride toward decentralizing the future of finance.


References:

De, N. (2024, January 6). Final Bitcoin ETF Application Filings Get Posted by Major U.S. Exchanges. Retrieved from https://www.coindesk.com/policy/2024/01/05/final-bitcoin-etf-application-filings-get-posted-by-major-us-exchanges/

Versprille, A., Doherty, K., Greifeld, K., & Yang, Y. (2024, January 5). Spot Bitcoin (BTC) ETF Issuers Clear Major Hurdle for SEC Approval. Retrieved from https://www.bloomberg.com/news/articles/2024-01-05/bitcoin-btc-etf-issuers-clear-major-hurdle-for-sec-approval

Suberg, W. (2024, January 5). BTC price centers on $43K as nervous Bitcoin traders await ETF news. Retrieved from https://cointelegraph.com/news/btc-price-centers-43k-bitcoin-traders-etf-news

R, E. (2023, October 27). Bitcoin ETF Decision Looms as Price Nears $36,000. Retrieved from https://coinpedia.org/news/anticipation-builds-as-bitcoin-etf-nears-approval-but-what-if-it-doesnt-meet-expectations/

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