Pump Investments investor Anthony Pompliano discusses whether a spot Bitcoin ETF will be approved in January on “Making Money.”
A series of meetings between the Securities and Exchange Commission and several stock exchanges has increased confidence that approval of the long-awaited Spot Bitcoin exchange-traded fund may be imminent.
FOX Business has learned that SEC staff attorneys from the Division of Trading and Markets are meeting Wednesday with officials from the major exchanges where the ETF is traded: the New York Stock Exchange, Nasdaq, and Chicago Options Exchange.
The meeting was a sign of positive news that the SEC is close to approving some or all of the more than a dozen applications for the product by large asset managers and crypto companies, said people at both companies who requested anonymity. This is seen as a sign. Specifically, the SEC is requiring exchanges to amend and finalize so-called 19b-4 filings filed by exchanges on behalf of issuers, requiring SEC approval before ETFs can be sold to the public. It is necessary to receive
Expect SEC to continue talks with Spot Bitcoin ETF as potential approval approaches
Although a final decision has not been made, the SEC will begin issuing approval notices to issuers on Friday, and trading could begin as early as next week, people familiar with the matter said. The SEC continues to meet with key stakeholders on this issue, and ETF analysts and issuers alike remain confident that a favorable SEC decision will be made by January 10th.
Of course, the SEC may deny the application. Hours before FOX Business reported on Wednesday's meeting, Singapore-based cryptocurrency platform Matrixport announced that the five-member committee has a Democratic majority and Chairman Gary Gensler accepted The SEC has released a research report predicting that the SEC will reject all applications for Bitcoin ETFs due to the company's reluctance to do so. Cipher.
Bitcoin prices fell more than 7% on the news after hitting a two-year high of nearly $45,000 on New Year's Day on expectations for spot ETF approval.
“Broadly speaking, if the Commission declares a registration statement to be valid, that will be reflected in EDGAR,” an SEC spokesperson told FOX Business. “All Committee 19b-4 orders will be posted on our website and subsequently published in the Federal Register.”
Media representatives from the New York Stock Exchange, Nasdaq and CBOE did not respond to requests for comment.
VALKYRIE INVESTMENTS offers first Ether futures through ETF
If approved, retail investors would be able to increase exposure to the world's largest cryptocurrency at a lower cost than the already approved Bitcoin futures ETF.
Purchasing ETFs through highly regulated and trusted money management companies, such as BlackRock and Fidelity, may also encourage more investors to add cryptocurrencies to their portfolios.
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