According to a report by Bloomberg, companies intending to issue Bitcoin spot exchange-traded funds (ETFs) have been granted the final amendment deadline of Monday morning (8th) to submit their pending applications for approval. The U.S. Securities and Exchange Commission (SEC) itself must take action on at least one application by January 10th. Industry insiders in the cryptocurrency sector speculate that the regulatory agency will announce a series of decisions on multiple applications on that day.
Bitcoin spot ETFs must meet two technical requirements before trading can commence. Firstly, the SEC must sign the so-called 19b-4 documents, which are submitted by the exchanges planning to list these ETFs. Secondly, the regulatory body must approve the relevant S-1 forms, which are the registration applications of potential issuers, including BlackRock and Fidelity.
It is reported that the SEC plans to vote on the 19b-4 documents submitted by the exchanges in the coming days, and it may or may not take action on the issuers’ S-1 applications at the same time. If the SEC grants the necessary approvals for both sets, these ETFs may begin trading as early as the next business day.
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