- The SEC has provided its final feedback to companies seeking to launch spot bitcoin ETFs in the US, signaling approvals could be imminent after years of delay.
- Sources say the SEC had no additional feedback on the latest amendments submitted by several firms, clearing the last remaining roadblock ahead of a key SEC vote next week.
- The anticipated launch of spot bitcoin ETFs is expected to provide easy, mainstream access to bitcoin investments and boost institutional adoption across the crypto industry.
The SEC has reportedly provided its final feedback to companies seeking to launch spot bitcoin ETFs in the US. After months of anticipation, approvals could be just around the corner.
Background on the Spot Bitcoin ETF Saga
For over a year now, companies like Grayscale and Fidelity have been trying to launch spot bitcoin ETFs. The SEC has delayed making a decision, but recent court rulings have pressured them to take action. With the deadline looming, the SEC has told applicants to submit their final paperwork this week.
No Additional Feedback from the SEC
According to sources familiar with the matter, the SEC had no additional feedback on the latest amendments submitted by several firms. This is a major step signaling that approvals could come after the SEC vote next week. While the vote itself may be delegated to SEC staff, it seems the last remaining roadblock has been cleared.
JUST IN: Bloomberg reports Spot #Bitcoin ETF applicants have cleared key hurdles for approval
— BlockNews.com (@blocknewsdotcom) January 5, 2024
Confirmation is expected early next week
Market Expectations and Implications
The market has anticipated the arrival of spot bitcoin ETFs for some time. With over a dozen applicants, it’s likely that multiple offerings will get approved. The launch of these products will provide easy, mainstream access to bitcoin investments. It’s a milestone that will boost institutional adoption and drive growth across the crypto industry.
While some uncertainty remains around the SEC vote next week, the latest update is great news for bitcoin ETF applicants. After years of waiting, the US may finally get its first spot bitcoin ETF soon.
