Bitcoin Spot ETF Update: Intensive Talks with BlackRock and Others Raise Hopes for SEC Approval by January 10
Major Players in Talks with SEC: A Step Closer to Bitcoin Spot ETF Approval
Bloomberg ETF analyst James Seyffart revealed that key financial firms including BlackRock, Grayscale, Franklin Templeton, and Fidelity have been in discussions with the SEC regarding the details of Bitcoin spot ETFs. These meetings, attended by the SEC’s Division of Trading and Markets and the Division of Corporate Finance, are crucial as these departments will decide the fate of 9b-4 and S-1 applications, either approving or rejecting them. The Ark 21Shares Bitcoin ETF, managed by Ark Invest, is currently the closest to its approval deadline, and there is optimism for several Bitcoin spot ETFs to be approved by January 10.
Further reading：Fidelity’s Bitcoin Spot ETF Process Map: A Deep Dive into the SEC’s Concerns over Physical Operation Models
BlackRock’s Critical Role in Persuading the SEC
Bloomberg ETF analyst Eric Balchunas humorously noted that the SEC is busier than Santa’s elves during this period. The recent meeting with BlackRock was particularly noteworthy, as the investment community is keen to see if BlackRock can persuade the SEC to allow physical creations in the first round of approvals.
Eric Balchunas pointed out that the meeting participants included Rachel Aquirre, the head of iShares USA, and mostly lawyers. He questioned why market makers were not invited to these discussions.
Ark Invest’s ETF Nears Approval Deadline
Ark Invest’s Ark 21Shares Bitcoin ETF is the closest to the approval deadline, and despite having only one recent meeting with SEC officials, there is still optimism for a few Bitcoin spot ETFs to be approved by January 10. Ark Invest had applied for a Bitcoin spot ETF as early as 2021.
Further reading：Bitcoin Spot ETFs Approach Critical Milestone: A Comprehensive Look at SEC Review Dates and Negotiations
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Keywords: Bitcoin Spot ETF, SEC Approval, BlackRock, Grayscale, Franklin Templeton, Fidelity, Ark 21Shares Bitcoin ETF, James Seyffart, Eric Balchunas, Rachel Aquirre, iShares, Market Makers, Financial Regulations, Cryptocurrency, Trading and Markets, Corporate Finance, Investment Strategy
