SEC Advances Towards Approval of Spot Bitcoin ETF with 19b-4 Amendment Filings

The U.S. Securities and Exchange Commission (SEC) is now processing filings for spot Bitcoin ETFs. This move signals a potential approval of these funds, a significant development in the cryptocurrency sector.

On January 5, key asset managers like BlackRock, Valkyrie, Grayscale, Bitwise, Hashdex, ARK 21Shares, Invesco Galaxy, Fidelity, Franklin Templeton, and Wisdom Tree submitted 19b-4 amendments for their spot Bitcoin ETF applications. These filings are a critical stage in the SEC’s approval process.

To list shares of investment securities with direct crypto exposure on U.S. exchanges, these asset managers must complete S-1 documents. The SEC’s acceptance of 19b-4 filings is a major step towards this goal.

Bitcoin’s current price stands at approximately $44,276, reflecting market anticipation of these developments. The industry is closely monitoring these proceedings, as approval of these ETFs would be a landmark event.

Experts speculate that final approvals for these ETFs could be announced before January 10. This date is significant as it is the deadline for a proposed offering from ARK Invest and 21Shares.

If approved, these spot Bitcoin ETFs could greatly influence the adoption and integration of cryptocurrencies in the U.S. financial system. Such a development would not only impact the U.S. market but could also reverberate globally.

The crypto community eagerly awaits the SEC’s decision. Approval of these ETFs would bridge the gap between traditional finance and the digital currency world, marking a historic moment in the evolution of cryptocurrencies.