Will the SEC Contact Bitcoin ETF Candidates for Approvals as Early as January 5th?

The deadline for potential approval of ArkInvest’s spot Bitcoin ETF application by the SEC is fast approaching, with multiple issuers also awaiting potential approvals from January 5th to January 10th, 2024. A recent confidential report from Reuters has added to the speculation, suggesting that the SEC may inform firms before the official judgment day. Nate Geraci shared a report on social media platform X, stating that Reuters’ sources indicate that the SEC might notify issuers as early as Tuesday or Wednesday, clearing them to launch spot Bitcoin ETFs the following week. According to the latest SEC report, issuers who submitted their revised S-1 Amendment form by December 29th may be eligible for approval by January 10th, 2024. It is important to note that this information is time-sensitive and the situation may have changed since then. James Seyffart from Bloomberg has reiterated the news, expressing his belief that it may be true. He states that if this news had been reported a couple of weeks ago, he would have found it a bit early, but now it seems like they are in the final stretch. Fourteen asset management firms are waiting for the SEC’s approval for their spot Bitcoin ETF applications. However, this type of ETF has faced rejection in the past due to concerns about market manipulation and investor protection. The SEC has previously approved only cryptocurrency ETFs tied to futures contracts on Bitcoin and Ethereum. Grayscale Investments and Hashdex are among the firms looking to convert their existing products into spot Bitcoin ETFs, and they have successfully submitted their updated amendments within the December 29th deadline. The SEC has not provided any official updates or comments to reporters. The regulatory landscape for cryptocurrency ETFs continues to be a focus, with ongoing efforts and submissions from various issuers. Tags: Bitcoin ETF.