Significant progress has been made towards an SEC decision regarding the spot bitcoin ETFs put out by BlackRock and Valkyrie, as seen by the amendments filed by Nasdaq. These paperwork, called 19b-4 forms, need to be approved by the SEC before the exchanges may list the spot bitcoin ETFs. Furthermore, for fund issuers to introduce their intended exchange-traded funds (ETFs), their S-1 registration statements must be declared effective.
The SEC must make a decision about an ETF proposal from 21Shares and Ark Invest by January 10. Observers of the industry have speculated that the regulator may make decisions regarding several other prospective funds, such as Valkyrie and BlackRock, at that time. Bloomberg reports that SEC staff told a group of exchanges and issuers that they may submit their final documentation for their planned bitcoin ETFs that would track spot prices.
An investing tool that allows investors to track the price of bitcoin without requiring them to hold the real digital asset is a spot bitcoin exchange-traded fund (ETF). Giants in the financial sector and companies that are new to cryptocurrencies are vying for SEC permission, but none have been successful thus far. Eric Balchunas, an analyst for Bloomberg Intelligence, estimates that there is a 90% possibility that the SEC will approve spot bitcoin ETFs this month.
