The U.S. Securities and Exchange Commission (SEC) has set a year-end deadline for companies hoping to launch spot Bitcoin-linked exchange-traded funds (ETFs) in early 2024.
SEC Sets December 29 Deadline for Bitcoin ETF Hopes
SEC officials met with representatives of at least seven companies, including BlackRock, Grayscale Investments, ARK Investments and 21 Shares.
The SEC has ordered at least two companies to file their final amendments by the end of next week, according to public filings and insider information.
While the SEC is expected to rule on ARK and 21 Shares' joint offering by January 10, most companies are predicting that the SEC will approve several applications simultaneously by the deadline.
Executives of the two firms, who spoke on the condition of anonymity due to the confidential nature of the discussions, announced that the SEC has set a deadline of December 29 for the latest updates in its filings.
The SEC warned that any entity that fails to meet this deadline will not be included in the first wave of potential spot Bitcoin ETF approvals in early January.
*This is not investment advice.