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INTERNATIONAL BUSINESS TIMES NEWSLETTER SIGNUP My account Log Out Jan 04, 4:37 PM EST World U.S. Economy & Markets Companies Technology Digital Life Culture Sports Crypto Opinion NEWSLETTER My account Log Out US Edition World U.S. Economy & Markets Companies Technology Digital Life Culture Sports Crypto Opinion Listings & More Spotlight Glossary SMB Forum Glossary K-Wave CEO Spotlight Editions Australia Edition India Edition International Edition Singapore Edition United Kingdom United States NEWSLETTER Follow Us Editions Australia Edition India Edition International Edition Singapore Edition United Kingdom United States Crypto Crypto Business SEC Gives Final Comments On Filings, Spot Bitcoin ETF 'Close To Done': ETF Analysts By Nica Osorio @nicaIBTimes 01/04/24 AT 4:37 PM EST Share on Facebook Share on Twitter Share on LinkedIn Share on Reddit Share on Flipboard Share on Pocket Single bitcoin with gold reflection on top of background of scattered U.S. 100 dollar bills. QuoteInspector.com/flickr The U.S. Securities and Exchange Commission (SEC) is currently providing final comments on spot Bitcoin exchange-traded fund (ETF) filings, as per an ETF analyst. The analyst noted that the eagerly anticipated crypto investment vehicle is "close to done." Online rumors suggesting that the SEC will approve spot Bitcoin ETF proposals this week have been widespread. However, recently published research from crypto financial services platform Matrixport titled "Why the SEC will REJECT Bitcoin Spot ETFs again" states that the regulator will reject all applications this month. On Thursday, Bloomberg Intelligence Senior ETF analyst Eric Balchunas shared an intriguing update on the social media platform X (formerly Twitter) regarding the crypto investment vehicle, further heightening community anticipation. According to his update, the SEC is presently offering its final feedback on the spot Bitcoin ETF filings. Following this, the sponsors are expected to submit their final 19-b4 filings, indicating that the cryptocurrency investment product is nearing completion. Balchunas said, "SEC is giving final comments as we speak, then issuers will submit final 19b-4s and S-1s soon after. So I mean this is definitely as close to 'done' as we've been, but no official approval as far as I know." Fellow Bloomberg Intelligence ETF analyst James Seyffart commented "Getting closer" on Balchunas' update. Getting closer https://t.co/qeTQi4sexV — James Seyffart (@JSeyff) January 4, 2024 In addition to the ETF analysts' input, Jacquelyn Melinek, a senior crypto reporter at TechCrunch, shared insider information online claiming that the SEC will approve "multiple firms," citing "sources extremely close to the matter." heard from sources extremely close to the matter that the bitcoin spot ETF is going to be approved by the SEC for *multiple* firms' applications — Jacquelyn Melinek (@jacqmelinek) January 4, 2024 This information aligns with earlier speculations anticipating simultaneous approval of issuers by the SEC. Recent developments on spot Bitcoin ETF applications occurred after several issuers filed Form 8-a with the SEC, including Grayscale, ARK 21, and Valkyrie, which many interpreted as an indication that the regulator had already approved some applications. It's important to note that despite the buzz surrounding the spot Bitcoin ETF applications, the SEC remains silent on the topic and has previously stated that it cannot comment on applications. As of 5:07 p.m. ET on Thursday, Bitcoin was trading in the green zone at $44,298.07, with a 24-hour trading volume down by 36.39% at $29,505,314,588. This latest price action represents a 3.30% spike in its value on the day and a 3.98% gain in the last seven days. Data from CoinMarketCap indicates that Bitcoin's current circulating supply stands at 19,589,843 BTC, and its market cap is at $867,938,143,683. Read more ARK Invest Continues COIN, Robinhood Sell-off As Spot Bitcoin ETF Decision Looms Goldman Sachs Eyes Major Role In Bitcoin ETF With BlackRock, Grayscale Talks BTC Price Not Significantly Affected By Major SEC Move Suggesting Imminent Bitcoin ETF Approval Bitcoin © Copyright IBTimes 2023. All rights reserved. Join the Discussion MOST READ IN Crypto 1 MicroStrategy's Saylor Plans To Sell 5,000 MSTR Shares Per Trading Day Until April 2 Orbit Bridge Working With Law Enforcement, Global Exchanges On Over $80M Exploit 3 BlackRock Readies Major Leap For Spot Bitcoin ETF Amid Pending SEC Decision 4 Bitcoin's Drop To $40K Spurs $671M In Long Liquidations, Heightens Market Volatility 5 Shytoshi Kusama Teases Shib Army, Spills Plan For Doge-Killer LEASH NEWS World U.S. Economy & Markets Companies Technology Digital Life Culture Sports Opinion Featured Social Capital Glossary SMB Forum Spotlight Crypto K-Wave CEO Spotlight ABOUT About Us Contact us Advertise with us Terms & Conditions Privacy Policy Cookie Policy Editions United States Australia Brazil Colombia France Germany Indonesia India International Italy Editions Japan Nigeria Singapore South Africa South Korea Spain Mexico United Kingdom FOLLOW US Facebook Twitter LinkedIn Newsletter © Copyright 2024 IBTimes LLC. All Rights Reserved.
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