SEC Considers Approving 12 Pending Spot Bitcoin ETFs in Coming Days

In a potentially groundbreaking move for the cryptocurrency market, the United States Securities and Exchange Commission (SEC) is reportedly poised to review and potentially approve all 12 pending spot Bitcoin exchange traded fund (ETF) applications within the next eight days. This development comes as Bloomberg ETF analysts, James Seyffart and Eric Balchunas, highlighted a critical “window” beginning from November 9, leading up to November 17, during which the SEC could give the green light to these applications. However, they emphasized that this is merely a possibility and not a certainty.

Seyffart noted in a November 8 post on X (formerly Twitter), “Delay orders were issued by the SEC for BlackRock, Bitwise, VanEck, WisdomTree, Invesco, Fidelity & Valkyrie at the same time.” He went on to state, “If the agency wants to allow all 12 filers to launch — as we believe — this is the first available window since Grayscale’s court victory was affirmed.”

This limited timeframe arises from the SEC’s previous extension of the deadline for several pending spot Bitcoin ETF filings, culminating on November 8 as the final day of the comment period. As of November 17, the comment period for three specific filings, including Global X Bitcoin Trust, Hashdex Bitcoin ETF, and Franklin Bitcoin ETF, will recommence. Consequently, any decisions on these filings would be postponed until after November 23 at the earliest.

While the window for accepting all 12 filings concludes on November 17, Seyffart indicated that the SEC could technically make a decision on nine of the twelve applications at any point before January 10.

It’s important to note that while the approval of a spot Bitcoin ETF is not guaranteed, both Seyffart and Balchunas predict a 90% likelihood of approval sometime before January 10 next year. This potential development could mark a significant milestone for the cryptocurrency industry and its integration into traditional financial markets.

Related Posts

Leave a Reply


Subscribe To Newsletter

For updates and exclusive offers, enter your e-mail below.

Popular Posts

Tech Titans Back Figure AI: $675 Million Investment Led by Jeff Bezos, Microsoft, and Nvidia
February 25, 2024By
Nigeria Fintech Week 2024: Driving Inclusive Growth Through Fintech Innovation
February 25, 2024By
Nathaniel Luz Comments on Nigerian Authorities’ Crackdown on Crypto Traders and OTC Exchanges Amid Naira Depreciation
February 22, 2024By


Video Posts

Crypto Stats

CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin51,211 0.34 % 0.85 % 2.10 %
Ethereum3,061.9 0.31 % 0.65 % 5.07 %
Tether1.000 0.03 % 0.01 % 0.08 %
? --- 0.00 % 0.00 %
? --- 0.00 % 0.00 %
? --- 0.00 % 0.00 %
? --- 0.00 % 0.00 %
? --- 0.00 % 0.00 %
? --- 0.00 % 0.00 %
? --- 0.00 % 0.00 %