Crypto NewsAnalysisHas the countdown begun for the Spot Bitcoin ETF? When Will the...

Has the countdown begun for the Spot Bitcoin ETF? When Will the SEC Announce Its Decision? Bloomberg Conveyed the Latest Information!

According to a Bloomberg report, the SEC may approve the 19b-4 and S-1 forms of companies applying for ETFs and spot Bitcoin ETFs in the next few days.

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As we enter a critical week regarding spot Bitcoin ETF approval, the BTC and cryptocurrency market is focused on good news from the SEC.

At this point, while the SEC is expected to approve more than one ETF, a report supporting this expectation came from Bloomberg.

According to this report, the SEC appears ready to approve forms 19b-4 and S-1 of companies applying for ETFs and spot Bitcoin ETFs.

Because, according to the report, the SEC will vote on companies' 19b-4 forms in the next few days.

As a basis for this, the report showed that the SEC gave ETF applicants until the morning hours of Monday, January 8, 2024, to fill out the S-1 form.

As you may remember, Bloomberg analysts said in their previous statements that the probability of rejection of spot Bitcoin ETFs dropped to 5% following the recent meetings between the SEC and companies applying for ETFs.

“There are two technical requirements that must be met before a spot-backed Bitcoin ETF can begin trading. First, the SEC must require exchanges that will list the ETFs to sign so-called 19b-4 filings. Second, the SEC must file S-1 forms of ETF issuers.” needs to be approved.

According to information obtained by Bloomberg, the SEC plans to vote on the 19b-4 of the exchanges in the coming days. The SEC may also approve ETF issuers' S-1 forms along with their 19b-4 forms.

At this point, if the SEC grants both necessary approvals at the same time, the ETFs may begin trading on the next business day.”

While Bitcoin supporters and analysts in general say spot Bitcoin ETFs would be a turning point in BTC and cryptocurrencies, Michael Anderson, co-founder of crypto venture firm Framework Ventures, told Bloomberg, “The market is still severely underestimating the potential impact of Bitcoin ETF approval.” ” said.

*This is not investment advice.

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