NewsletterSpot Bitcoin ETF Approval: Blackrock, Fidelity, 2 Others Met US SEC This Week
Financial giants seeking the approval of the first ever spot Bitcoin ETF in the United States continue to hold deliberations with the U.S. Securities and Exchange Commission’s (SEC), in what could be an optimistic sign of the agency’s potentially decision making plans before the next deadline of January 10, 2024.
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Blackrock, Fidelity, Franklin Templeton, Grayscale Meet SEC
According to reports, as many as four aspiring companies have held talks with the SEC officials over the approval of their respective spot Bitcoin ETF filings, all in the space of just a few days. It remains to be seen if the Commission officials would invite the rest of the ETF aspirants in the days to come, in the lead up the January 10 deadline. Earlier, CoinGape reported that the US SEC would have a narrow window of opportunity between January 6-10, during which it could give out a decision in favor of approval.
While Blackrock representatives have held talks twice in the last few weeks, the third such meeting took place on Tuesday, December 12, 2024, a memorandum from the agency said, stating the discussion on proposed rule change to list the iShares Bitcoin Trust as reason. Interestingly, the agency’s meeting with Grayscale on December 8, 2023, on allowing the trading of the Grayscale Bitcoin Trust (GBTC) comes after the U.S. Court of Appeals for the D.C. Circuit’s direction mandating the Commission to revisit the decision on approving the spot Bitcoin ETF decision.
Multiple Spot Bitcoin ETF Approvals
Analysts have been predicting that the US SEC might potentially go for approval of multiple spot ETF filings at once, in order to avoid giving away the first mover advantage to a single applicant. However, an approval before January 10 could also mean the SEC giving a timeframe on allowing companies to list and trade the spot ETFs. In the lead up to the deadline, the Bitcoin Price (BTC) could further climb higher on any signs from the SEC in favor of approval.
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