- The final deadline for the potential approval of Ark Invest’s spot Bitcoin ETF by the SEC falls between January 5 and January 10, 2024, next week.
- According to the latest SEC report, issuers who successfully submitted the revised S-1 Supplement form on December 29 may be eligible for launch approval until January 10, 2024.
- Seyffart has reiterated his strong belief that this news could be accurate and states in his tweet that he would find this news ‘a bit early’ if it had been reported a few weeks ago.
Time is running out for Ark Invest’s spot Bitcoin ETF application: When can the SEC decide? Here are the reports!
When Will the SEC Decide on Bitcoin ETFs?
The final deadline for the potential approval of Ark Invest’s spot Bitcoin ETF by the SEC falls between January 5 and January 10, 2024, next week. As speculation grows, a recent leaked report added excitement to the ongoing anticipation.
A report suggested that the SEC could inform firms about their decision before the scheduled decision day. Nate Geraci, on the social media platform X, shared a Reuters report based on sources, stating, “SEC could likely announce allowing spot Bitcoin ETFs to launch on Tuesday or Wednesday.”
According to the latest SEC report, issuers who successfully submitted the revised S-1 Supplement form on December 29 may be eligible for launch approval until January 10, 2024. The SEC must either approve or reject the ETF by the specified date. Additionally, sources indicated that issuers could be informed on whether they are allowed to launch on Tuesday or Wednesday. It is important to note that this information may change over time.
James Seyffart from Bloomberg reiterated his strong belief that this news could be accurate and stated in his tweet that he would find this news ‘a bit early’ if it had been reported a few weeks ago. However, for him, it “now looks like we’re almost at the finish line.”
What to Watch for?
Fourteen asset management firms are awaiting SEC approval for the spot Bitcoin ETF application. However, this initiative has been rejected over the past decade due to concerns about market manipulation and investor protection.
The SEC has previously approved only crypto ETFs tied to Bitcoin and Ethereum futures contracts, which are inherently securities or contracts. Grayscale Investments and Hashdex are among the firms that aim to convert their existing products into spot Bitcoin ETFs by successfully submitting updated supplement changes by December 29.
There has been no official update from the SEC, and they have declined to comment to the press. The regulatory landscape for crypto ETFs continues to be a focal point with ongoing efforts and applications from various issuers.
