The US Securities and Exchange Commission (SEC) announced that a closed meeting will be held on January 11, the day after the filing deadline for Bitcoin Spot Exchange Traded Funds (ETFs). The timing of this meeting sparked interest among those in the industry.
Multicoin Capital's Compliance Director Gregory Xethalis shared his thoughts on the subject. “The SEC just posted a closed meeting for January 11th. That's the day after Ark's deadline,” Xethalis noted. “I was assuming the commission wouldn't approve the delegation for these 19b-4s, so the timing is interesting,” he added.
The meeting will be held at 22:00 Turkey time (UTC+3).
The topic of this meeting was determined to be related to sanctions. However, Xethalis pointed out that the SEC may bring up Self-Regulatory Organization (SRO) rules during the meeting. “It is worth noting that the topic of this meeting has been determined to be enforcement-related, but they may still bring up the SRO rules,” he said.
The relationship between SROs and Bitcoin Spot ETFs lies in the regulatory framework. SROs can play an important role in the regulation and oversight of these ETFs. They can set industry standards and regulations that Bitcoin Spot ETFs must comply with, ensuring that these investment vehicles operate in ways that promote investor protection, market integrity and the public interest.
*This is not investment advice.