US SEC Approves Options for Spot Bitcoin ETFs, Approval By End of February?
Within three days of filing 19b-4 for options trading of spot Bitcoin ETFs, the U.S. Securities and Exchange Commission (SEC) granted the request.
Are Spot Bitcoin ETF Options Coming Next Month?
James Seyffart, Bloomberg’s senior ETF strategist, announced that the U.S. Securities and Exchange Commission (SEC) has accepted 19b-4’s request for permission to trade options on spot Bitcoin exchange-traded funds (ETFs). This process is significantly faster than the SEC’s usual pace.
Seyffart estimates the options trade could receive approval by the end of February if the SEC opts for an expedited review. However, he notes that the absolute earliest time frame for a decision to be reached is approximately 27 days away. On the other hand, the final decision can be expected to be made around September 21, 2024.
Responding to questions about the expedited timeline, Seyffart emphasizes that this process is much faster than other 19b-4 submissions. Based on your experiences, highlights cases where similar requests took as little as 14 days. Notably, the 19b-4 submissions in question were released on January 16, making the current evaluation period only three days.
Day 5 of BTC ETFs Goes Live
In a recent update, Bloomberg’s ETF strategist Eric Balchunas weighs in on the fifth day of trading that appears to be longer than its actual duration. Total net flow for the week stood at +$1.2 billion; It fell slightly after GBTC’s significant figure of -$582 million, surpassing Nine’s +$447 million.
$GBTC’s decline has contributed to a significant bloodbath that now totals -$2.2bn compared to Nine’s strong +$3.3bn, including a significant volume of $6.6bn Accompanied. Balchunas states that the inclusion of $FBTC, which joined $IBIT, in Billy Club indicates significant developments in the market environment.
Balchunas added: “After five days of existence, the Newborn Nine owns approximately 40% of MicroStrategy’s bitcoin holdings.” Here’s a look at total inflows for spot Bitcoin ETFs over the first five days of trading.
After some selling pressure on Thursday, January 18, the BTC price rose above $42,000 at the time of writing.NEW:Top 5 places #Bitcoin Total entries as of yesterday:
BlackRock: $1.23 billion
Loyalty: $1.06 billion
By bit: $393 million
ARK 21 Shares: $319 million
Invesco Galaxy: $194 million pic.twitter.com/hVDwOM4YQS
— Bitcoin Magazine (@BitcoinMagazine) January 19, 2024
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Bhushan is a FinTech enthusiast and has a good ability to understand financial markets. His interest in economics and finance draws his attention to the emerging Blockchain Technology and Cryptocurrency markets. He is in a constant learning process and motivates himself by sharing the knowledge he has acquired. In her spare time, she reads thriller novels and sometimes explores her culinary skills.
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