- The anticipation for the approval of spot Bitcoin exchange-traded funds (ETFs) in the U.S. may come to an end this week, according to a report based on three sources.
- The report indicates that three individuals close to the matter have confirmed the timing of discussions with the SEC on Wednesday.
- Boring claims that the SEC has more tools to block spot Bitcoin ETFs because Chairman Gary Gensler does not want to go without a fight.
As discussions about when spot Bitcoin ETFs in the U.S. will be approved continue, a new curiosity has emerged: When will the trading commence?
Has the Trading Day for Spot Bitcoin ETFs Been Determined?
The anticipation for the approval of spot Bitcoin exchange-traded funds (ETFs) in the U.S. may come to an end this week, according to a report based on three sources. According to a report by Axios dated January 9, the regulatory approval for spot Bitcoin ETFs will likely happen on Wednesday, and it is reported that several funds are preparing to start trading on Thursday morning.
The expected approval for spot Bitcoin ETFs, as reported by Axios on January 9, could come this Wednesday. The report indicates that three individuals close to the matter have confirmed the timing of discussions with the SEC on Wednesday. However, the decision is still with the regulatory body.
Some spot Bitcoin ETF issuers are expected to have their S-1 applications disclosed by the SEC promptly. This, according to three individuals, will pave the way for most spot Bitcoin ETFs to start trading on Thursday morning. Experts point to the 19b-4 applications as the most crucial indicator for the approval of spot Bitcoin ETFs. It is said that the Securities and Exchange Commission (SEC) has not gone too far in questioning exchanges about changes to 19b-4 that allow the trading of funds.
Bitwise, which has the lowest fees so far, applies a 0.24% fee according to the latest S-1 forms. Ark 21Shares and VanEck follow with a 0.25% fee. The SEC’s deadline for approving or rejecting Ark 21Shares Bitcoin ETF (ARKB) is January 10, Wednesday.
Warning of Spot Bitcoin ETF Rejection
Now, as the SEC has made additional comments on the S-1 forms of pending spot Bitcoin ETF applicants, more changes are expected. Perianne Boring, the president of the Chamber of Digital Commerce, claims that the SEC has more tools to block spot Bitcoin ETFs because Chairman Gary Gensler does not want to go without a fight.
COINOTAG reported a warning that a 5-member SEC Committee could potentially delay the approval of spot Bitcoin ETFs. Each commissioner, including Gary Gensler, Caroline Crenshaw, Hester Peirce, Jaime Lizárraga, and Mark Uyeda, has the right to request a review and a full commission vote under 17 C.F.R. Part 201.431, even if the matter is assigned and approved.
