The U.S. Securities and Exchange Commission (SEC) is reportedly nearing approval of several spot Bitcoin exchange-traded funds (ETFs), according to FOX Business. The SEC is in the final review stages after crucial meetings with major stock exchanges like the NYSE, Nasdaq, and CBOE.
The discussions focus on revising and finalizing 19b-4 filings submitted by exchanges for ETF issuers, requiring SEC clearance for public trading.
While a final decision is pending, insiders suggest potential approval notifications as early as this Friday, enabling spot Bitcoin ETF trading by next week.
ETF analysts and issuers are optimistic about a favorable SEC decision on or before January 10. Recent speculation, prompted by a Matrixport research note, indicated a potential rejection of spot Bitcoin ETFs by the SEC due to a Democratic majority and historical crypto caution.
This speculation led to a 7% Bitcoin price drop after a near $45,000 surge on Tuesday fueled by ETF approval hopes.
Spot Bitcoin ETF approval would be a milestone, granting retail investors more accessible entry to the largest digital asset. Involvement from trusted firms like BlackRock or Fidelity could attract a broader investor base.
Any SEC decision will be publicly disclosed on EDGAR, the agency’s website, and the Federal Register. As the January 10 deadline approaches, the financial world anticipates potential changes in cryptocurrency investment.
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