SEC Meets With Stock Exchange Representatives for Bitcoin ETF Approval

According to a Fox Business report, the US Securities and Exchange Commission (SEC) is close to approving a number of Bitcoin exchange-traded funds (ETFs).

In a series of critical meetings with major stock exchanges, including the New York Stock Exchange (NYSE), Nasdaq and the Chicago Board Options Exchange (CBOE), the SEC is said to be finalizing its review of the much-anticipated bitcoin exchange applications. -Exchange-traded funds (ETFs).

The US SEC is about to reach a decision on Spot Bitcoin ETFs

These discussions will focus on revising and finalizing the 19b-4 filings. Offered by the exchanges on behalf of ETF issuers, ETFs require SEC approval before they can be sold to the public.

The discussions are a positive sign that the SEC may greenlight some, if not all, applications from major fund managers and crypto firms for spot Bitcoin ETFs.

While a final decision has yet to be made, insiders suggest the agency could begin announcing approvals as early as Friday. This development could result in spot Bitcoin ETFs trading starting next week.

ETF analysts and issuers are optimistic, awaiting a favorable decision from the SEC on or before January 10.

This potential approval comes amid fluctuating confidence in the crypto market. A recent research note from Matrixport suggests that the SEC, led by Chairman Gary Gensler, may reject all Bitcoin ETF applications due to the commission's current Democratic majority and the historically cautious cryptocurrency.

That speculation contributed to a more than 7% drop in Bitcoin's price following Tuesday's surge to nearly $45,000 on hopes of approval by the IMF.

Potential Implications of Spot ETFs on Crypto Investments

If the SEC approves the spot Bitcoin ETFs, it would be a major milestone for the cryptocurrency industry, providing retail investors access to the world's largest digital asset at a lower cost than currently approved futures ETFs.

Additionally, the introduction of ETFs through trusted and highly regulated money management firms such as BlackRock or Fidelity can widen the investor pool, allowing them to include cryptocurrency in their investment portfolios.

An SEC spokeswoman said any decision regarding registration statements or 19b-4 orders will be reflected on EDGAR and published on the agency's website and in the Federal Register.

As the deadline for the January 10 decision approaches, the financial world will be watching with bated breath, eager to see if the SEC will usher in a new era for cryptocurrency investment.