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Bitcoin ETF Trading Will Begin One Day After US SEC Approval
According to reports, the United States Securities and Exchange Commission (SEC) appears ready to make a decision on the approval of the spot Bitcoin ETF in the next few days, subject to the approval of forms 19b-4 and S-1.
So read: Polygon Returns solana as Third Largest NFT Trading Network
Bitcoin ETF Approval and Launch
According to a Bloomberg report, the US SEC will vote on forms 19b-4 in the next few days. ETF applicants are expected to complete the S-1 form by 8 a.m. on Monday, January 8, 2024. Previously, Bloomberg analysts had reported that the chances of the ETF being rejected had dropped to 5% in the context of recent meetings among the ETFs. SEC officials and representatives of companies seeking approval. The report said:
Accordingly, a key vote on this issue, which could herald the much-anticipated approval of ETFs, is expected early this week. Bitcoin ETF approval could be a significant step towards the standardized flow of institutional money into the crypto market. Players like MicroStrategy ($MSTR) are already heavily invested in Bitcoin (BTC) price volatility, constantly investing to accumulate the top cryptocurrency.“If the SEC grants both required approvals, ETFs may begin trading on the next business day.”
Microstrategy (MSTR) Share Price and Coinbase (COIN) Share Price have seen significant increases in recent months in line with the increase in Bitcoin (BTC) Price in anticipation of Bitcoin ETF approval.
ETF launch date
According to speculation, spot Bitcoin ETF products from companies such as Blackrock, Fidelity, Van Eck, Valkyrie, Bitwise and Grayscale may be ready to be traded on the exchange as of January 11, 2024. This is based on the January 10 deadline for the US. SEC officials confront Bitcoin ETF application in Ark 21Shares spot. The Jan. 10 deadline marks a 60-day period from the previous date on which the Ark 21Shares application was rejected, and SEC officials will have to decide whether to approve spot ETF applications within that period.
So read: Will XRP ETF Application Arrive Within Weeks After Bitcoin ETF Approval?
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Anvesh reports important crypto updates regarding US regulations and market moving trends. Over 1,200 articles on crypto and blockchain have been published so far. I proudly left the University of Massachusetts at Lowell. It can be reached at: [email protected] or twitter.com/BitcoinReddy or linkedin.com/in/anveshreddybtc/
The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. Neither the author nor the publication accepts any liability for your personal financial loss.
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