Bitcoin ETF Trading To Begin A Day After US SEC Approval
The United States Securities and Exchange Commission (SEC) looks set to take a decision in favor of approval of the spot Bitcoin ETF in the next few days, subject to clearance of the 19b-4 and S-1 forms, according to reports.
Also Read: Polygon Flips Solana as Third Largest NFT Trading Network
Bitcoin ETF Approval & Launch
According to a Bloomberg report, the US SEC is set to have a vote on 19b-4 forms in the next few days. The ETF applicants are expected to file form S-1 until 8 am on Monday, January 8, 2024. Earlier, Bloomberg analysts reported that the chance of rejection of the ETF is down to 5%, in the context of the recently held meetings between SEC officials and the representatives of firms seeking approval. The report said,
“If the SEC grants both sets of required approvals, the ETFs could start trading as soon as the next business day.”
Accordingly, an important vote on this matter is pending early this week, in what could be a precursor to the much anticipated approval of the ETFs. The Bitcoin ETF approval could mark an important step in the direction of standardized flow of institutional money into the crypto market. Players like MicroStrategy ($MSTR) are already betting big on the Bitcoin (BTC) Price volatility by continuously investing to accumulate the top cryptocurrency.
The Microstrategy (MSTR) Stock Price and Coinbase (COIN) Stock Price saw significant gains in the recent months over the expectation of a Bitcoin ETF approval, in correspondence with the rise in Bitcoin (BTC) Price.
ETF Launch Date
Going by the speculation, the spot Bitcoin ETF products from the likes of Blackrock, Fidelity, Van Eck, Valkyrie, Bitwise and Grayscale could be up for trade on the stock market starting January 11, 2024. This is based on the January 10 deadline the US SEC officials face in the Ark 21Shares spot Bitcoin ETF filing. The January 10 deadline marks a 60 day window from the previous date of rejecting the Ark 21Shares filing, and the SEC officials would have to decide on whether or not to approve the spot ETF filings within the said period.
Also Read: XRP ETF Filing To Come Within Weeks After Bitcoin ETF Approval?
- Robinhood Lists ASTER and XPL, Prices Jump
- Arthur Hayes Says Ethereum Will 2.5x By December as BitMine Adds $417M to Treasury
- Will Coinbase List More Binance Chain Projects As CZ Urges Exchange to be More Open?
- “Trump Insider Whale” Opens $127M Short on Bitcoin Ahead of Trump’s Big Announcement- Is Another Crypto Crash Ahead?
- BREAKING: Deribit Revises Fee Structure as XRP, Solana Options Go Live on CME
- Dogecoin Price Eyes $0.40 Rally as Thumzup Integration Boosts Utility
- Pi Coin Price Gears for Recovery as DEX and AMM Launch Revives Utility Hopes
- Cardano Price Teeters as Whales Exit and Bearish Signal Emerges
- Sui Price Targets $9.5 as Figure Brings SEC-Approved Yield Token YLDS to Sui
- Chainlink Price Eyes $100 as S&P Global Partnership Expands Institutional Adoption
- Solana Price Prediction as Whales Withdraw $169M from Exchanges
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
