As the Jan. 10 deadline nears for Ark Invest and 21Shares’ ETF application, anticipation for approval grows.
Several pending spot Bitcoin ETFs may gain approval by the next week, according to FOX Business reporter Eleanor Terrett.
Terrett mentioned, “The timeline for approvals still looking like next week but will all depend on how fast the SEC can read through comments and amendments made today.”
She drew parallels with the SEC’s past approach to Ethereum futures ETF approvals, highlighting the issuers’ deadline post the last review. This indicates that the Securities and Exchange Commission (SEC) is taking time to review comments and amendments, potentially causing delays in the approval process.
The lack of updates from BlackRock, characterizing it as “radio silence” from the SEC, contradicting earlier predictions of SEC notifications by Jan. 2 or Jan. 3.
The situation becomes more intriguing as a Jan. 10 deadline approaches for an application from Ark Invest and 21Shares, with expectations of approval.
Despite historical rejections, optimism surrounds current applications due to heightened SEC engagement and the involvement of major asset managers like BlackRock and Fidelity in the process.
The pending SEC decisions on spot Bitcoin ETFs, coupled with the involvement of major players like BlackRock and Fidelity, hold substantial significance for the cryptocurrency market, marking a pivotal moment at the intersection of traditional finance and digital assets.
The outcome could influence the trajectory of over a dozen spot Bitcoin ETFs awaiting SEC approval, further shaping the landscape for institutional involvement in the cryptocurrency market.
