Eleven Bitcoin spot exchange-traded funds (ETFs) are moving closer to approval by the U.S. Securities and Exchange Commission (SEC). A proposed rule change to list and trade all 11 spot Bitcoin ETFs on stock exchanges has been filed with the SEC. “Basically everything is done,” said an ETF analyst, adding that the securities regulator is “trying to get everyone organized for the launch on November 11.” first”.
Coming soon decision on Bitcoin ETF: “Basically completed”
Proposals to list and trade 11 spot Bitcoin ETFs were submitted to the SEC on Friday amid speculation the securities regulator is about to approve them.
Bloomberg reported, citing two people familiar with the matter:
“The (SEC) staff had no additional feedback on certain companies’ paperwork following the latest amendments.”
Form 19b-4 was used to propose a rule change to allow spot Bitcoin ETFs to trade on stock exchanges.
Bloomberg analyst James Seyffart shared a list Friday afternoon, revealing the 11 Bitcoin spot ETF applicants have filed amended form 19b-4 with the SEC.
However, the analyst warns:
“We are not at the finish line yet. We need to see a decision to approve these amended applications (coming next week). And then we need the S-1 documents to come into effect (which could also happen next week). That’s the end of this deal.”
Commenting on Friday’s developments, senior analyst of Bloomberg ETF, Eric Balchunas, gave the opinion:< /span>
“It’s basically done. Latest I learned (from multiple sources) that the S-1 will finally be due on Monday at 3:00 p.m. (Vietnam time) as the SEC is trying to arrange everyone for the launch on January 11. However, I still want to hear from the SEC to have an official basis.”
Form S-1 is the prospectus document for spot Bitcoin ETFs.
SEC commissioners are expected to vote on the exchange regulatory filing next week, Bloomberg reported, citing another person familiar with the process. The publication explains that once the SEC approves the 19b-4 filing and issuers sign their final S-1 filings, a spot Bitcoin ETF can begin trading as soon as the next business day. .
