According to Bloomberg, companies looking to issue Bitcoin spot ETFs have been granted the final deadline to submit their pending applications for approval by Monday morning (8th) Eastern Time. The U.S. Securities and Exchange Commission (SEC) itself must take action on at least one application by January 10. Industry insiders speculate that regulators will announce a series of decisions on multiple applications on that day.
Bitcoin spot ETFs must meet two technical requirements before trading can begin. First, the SEC must sign the so-called 19b-4 documents submitted by the exchanges planning to list these ETFs. Second, the regulatory agency must approve the relevant S-1 form, the registration statement of the potential issuers, including BlackRock and Fidelity.
Reportedly, the SEC plans to vote on the 19b-4 documents submitted by exchanges in the coming days, and the regulator may or may not take action on issuers’ applications (S-1) at the same time. If the SEC grants approval for both required sets, these ETFs may start trading as soon as the next business day.