In a significant step toward potential approval of spot bitcoin exchange-traded funds (ETFs) in the United States, applicants have cleared a pivotal hurdle, marking a critical milestone in their quest for regulatory approval from the U.S. Securities and Exchange Commission (SEC).
As reported by Bloomberg, applicants seeking approval for the eagerly awaited spot Bitcoin ETFs have successfully passed a critical stage in their regulatory journey. Sources close to the matter revealed that the applicants have addressed and resolved key concerns raised by the SEC, signaling progress in addressing regulatory queries central to the approval process.
“SEC staff told several exchanges and issuers seeking to list ETFs that they must file a final version of the key document as soon as Friday, according to four people familiar with the matter who asked not to be identified because the discussions are ongoing privately,” according to the report. “Employees had no additional comments on several companies’ paperwork after the recent amendments,” two of the people said.
Clearing this high hurdle indicates that applicants have finished addressing regulatory concerns and aligning their proposals with SEC guidelines. Successful resolution of these issues bodes well for the prospects of spot Bitcoin ETFs, potentially paving the way for their introduction into traditional financial markets.
Applicants appear to be close to receiving SEC approval, which could mark an important milestone in integrating Bitcoin into traditional investment methods through regulated ETFs. The application deadline for the ARK 21Shares Spot Bitcoin ETF is January 10, leaving the SEC with just a few days to approve or reject the funds.
