Confirmed Launch Date for Big Bitcoin ETF Revealed

Bitcoin BTC

The U.S. Securities and Exchange Commission (SEC) is getting closer to approving spot Bitcoin ETFs, but we’re still not sure when they will officially launch. There’s also some confusion about whether the SEC will approve all 11 applicants at once or in smaller groups. Let’s dive into the details of this Bitcoin ETF update.

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There were thoughts that SEC commissioners might vote on approving Bitcoin ETFs early next week. This came after 11 applicants updated their 19b-4 amendments, and they were expected to file S-1 forms by Monday, January 8, 2024. Reports suggest that many filers received no extra feedback on these amendments from the SEC staff. In reaction to this, Eric Balchunas, a Bloomberg Intelligence analyst, mentioned sources hinting that SEC officials are getting ready for a Bitcoin ETF launch on January 11, 2024.

Initially, there was an expectation of a gap between the SEC’s announcement and the start of ETF trading. The analyst noted that the paperwork meeting SEC requirements is almost done.

Positive Momentum for Spot Bitcoin ETF Approval

Executives and representatives from five investment management firms, as reported by Reuters, indicate that discussions between SEC officials and stock exchanges are progressing favorably for the potential approval of a spot ETF early in the week starting January 8, 2024. The applicants are expressing confidence in achieving “final approval of S-1 filings by late Tuesday or Wednesday,” aligning with the SEC’s deadline concerning the Ark 21Shares Bitcoin ETF.

In preparation for potential approval, three firms are expected to make minor adjustments to their paperwork before 8 AM ET on Monday, January 8, 2024. These modifications are anticipated to be the concluding official steps taken by the ETF filers before the approval process.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

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