Cryptocurrency journalist Eleanor Terrett shared her views on recent developments regarding Bitcoin Spot ETFs.
Terrett announced today that he expects some changes to 19b-4 filings. These applications are an important part of the regulatory process, and their changes represent progress towards approval of these ETFs. In addition, he expects comments on the S-1s and some last-minute phone calls regarding possible launch dates.
According to the journalist, the timeline for approvals is still expected to be within the next week. But that depends on how quickly the U.S. Securities and Exchange Commission (SEC) can read the comments and changes made today, according to Terrett.
19b-4 filings are documents that exchanges file on behalf of asset managers when they want to list a new financial product such as Bitcoin ETF. While these applications are part of the regulatory process, they must be approved before the asset manager's S-1 application can be approved.
S-1 filings are defined as registration forms required by the Securities and Exchange Commission (SEC) for U.S.-based public companies that wish to list new securities on a national exchange.
Terrett describes the current situation as simply a “dotting the i's and crossing the t's” scenario. This phrase is often used to indicate that only small, easy tasks remain to complete a project. In this context, the journalist argues that major obstacles to the approval of Bitcoin Spot ETFs have been overcome and only minor, procedural tasks remain.
*This is not investment advice.
