The U.S. Securities and Exchange Commission (SEC) swiftly responded to amended S-1 forms submitted by potential Bitcoin ETF issuers on Monday. Despite some interpreting this as a delay signal, experts argue otherwise.
Perianne Boring, the founder of the Chamber of Digital Commerce, voiced concerns on Twitter, viewing the SEC’s move as a delay signal. However, Bloomberg Intelligence analyst James Seyffart contested this perception. He highlighted the speed of the SEC’s response, emphasizing that it demonstrated the regulatory body’s efficiency. According to Seyffart, the immediate feedback suggested a rapid review process rather than intentional delay.
Supporting Seyffart’s perspective, an insider familiar with the comments informed CoinDesk that the SEC’s feedback primarily addressed minor details within the S-1 forms. They indicated that issuers were expected to submit updated documents the following day.
Moreover, Fox Business journalist Eleanor Terrett reported that despite additional comments from the SEC, the entities involved seemed unworried. Terrett affirmed that the SEC hadn’t communicated any shift in plans, adding to the sentiment that this was part of the routine evaluation process.
Axios, citing information from three reliable sources, further fueled anticipation by suggesting that spot Bitcoin ETFs might receive approval by Wednesday. According to Axios, multiple funds were gearing up to commence trading as early as Thursday morning.
The rapid response from the SEC to the S-1 amendments indicates a streamlined evaluation process rather than an intentional delay, fostering hope for potential approval of Bitcoin ETFs in the near future.
