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SEC Takes Major Step Towards Approving First Spot Bitcoin ETF

by BlockNews.com Team
January 5, 2024
in Crypto
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SEC Takes Major Step Towards Approving First Spot Bitcoin ETF
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  • Several companies including BlackRock, Valkyrie, and Grayscale filed 19b-4 amendment forms for their spot bitcoin ETF applications, bringing them closer to SEC approval.
  • The 19b-4 filings contain key details the SEC requires to review an ETF application. This is one of the final stages before approval.
  • Experts believe the SEC may approve the spot bitcoin ETFs before January 10th, which is the deadline for an ETF proposed by ARK Invest and 21Shares. Approval could spur further bitcoin adoption.

The SEC has taken a major step towards approving a spot bitcoin exchange-traded fund (ETF). On January 5th, several companies filed 19b-4 amendment forms for their spot bitcoin ETF applications. This is one of the final stages in getting SEC approval.

What are 19b-4 Filings?

The 19b-4 filings contain key details about the proposed ETFs. They are required for the SEC to review an ETF application. Companies like BlackRock, Valkyrie, Grayscale, Bitwise, Hashdex, ARK Invest, 21Shares, Invesco, Galaxy, Fidelity, Franklin Templeton, and WisdomTree all filed 19b-4 forms.

BREAKING: Nasdaq files amendment for the Valkyrie Spot #Bitcoin ETF 19b-4 filing

ETF approval by next week looks VERY promising

C/: @btcNLNico pic.twitter.com/di9QyQbsQo

— BlockNews.com (@blocknewsdotcom) January 5, 2024

Final Approval Could Come Soon

Some experts think the SEC will approve the spot bitcoin ETFs before January 10th. That’s the deadline for an ETF proposed by ARK Invest and 21Shares. If approved, these ETFs would allow mainstream investors easy exposure to bitcoin. This could spur further bitcoin adoption in the US and globally.

The Road Ahead

The 19b-4 filings are a hugely positive sign for spot bitcoin ETF approval. While a few steps remain, the SEC seems poised to finally give the green light. This would remove a major roadblock to mainstream bitcoin adoption. The coming days and weeks could prove truly historic for cryptocurrency.

Tags: Bitcoincryptosec
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