Spot Bitcoin ETF: Uncertainties Loom as BlackRock Awaits SEC’s Green Light, FOX Analyst Predicts Approval Timeline
Spot Bitcoin ETF: The Wait for SEC’s Nod
The cryptocurrency community is on edge as the U.S. Securities and Exchange Commission (SEC) nears a decision on the approval of Bitcoin Spot Exchange-Traded Funds (ETFs). With Reuters reporting that the SEC might notify issuers as early as this week, anticipation is high.
BlackRock’s Status: In Anticipation of SEC Approval
BlackRock, along with other issuers like VanEck, Valkyrie Investments, Bitwise Investment Advisers, Invesco, and Fidelity, has submitted revised applications to the SEC in hopes of launching their Spot Bitcoin ETF. However, as per recent updates, BlackRock has not yet received any confirmation from the SEC, casting a shadow of uncertainty over the entire process.
FOX Business Analyst Weighs In
FOX Business reporter Eleanor Terrett, in her latest update on January 02, expressed skepticism regarding an immediate approval by the SEC:
“While the @SECGov is surely unpredictable, it would surprise me if approvals were to happen tomorrow.”
“From what I understand through conversations I’ve had with issuers, the SEC still has to review all the changes made to the S-1s filed on Thursday/Friday AND make comments on them.”
Terrett further speculated that if the SEC follows a similar timeline to the one used for the approval of ETH futures in October, the institution might communicate with issuers about the final submission date of the S-1, which would then come into effect within 24–48 hours.
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Keywords: Spot Bitcoin ETF, SEC, BlackRock, Eleanor Terrett, FOX Business, Cryptocurrency, ETF Approval, Investment, Financial Markets, Regulatory Decision
