The decision of the Bitcoin ETF is up in the air with the SEC sticking to the paper
The US Securities and Exchange Commission (SEC) is reportedly inundated with paperwork as the January 10 deadline approaches.
Asset management firm BlackRock, which is vying for approval of its Bitcoin ETF, has reportedly not heard from the US regulator despite the deadline.
The SEC's workload is growing as Bitcoin ETF decision approaches.
According to a recent report from Fox Business' Charles Gasparino, BlackRock has not received any communication from the US regulator. This indicates a high pending work before reaching a decision in a few days.
“People at BlackRock say it's radio silence from the SEC, Eleanor Terrett's sources say the amount of paperwork the SEC still has to go through will make the announcement over the weekend.”
With the New Year holidays and a vacation from US SEC officials, Terrett commented that potential Bitcoin ETF approvals could face challenges in the next couple of days.
“The SEC staff has been off since Friday so Tuesday or Wednesday approval seems tight. But we'll see,” Terrett said.
At the time of going to press, the price of Bitcoin reached $44,324.
Read more: How to prepare for a Bitcoin ETF: A step-by-step approach
Anticipation builds for the upcoming Bitcoin ETF decision.
Terrett said she doubts a decision on Bitcoin ETF approvals will happen tomorrow.
“As I understand from my discussions with issuers, the SEC still needs to review the changes to the S-1s on Thursday/Friday and comment on them.”
As BeenCrypto recently reported, the significance of the January 10 deadline is profound.
With more than a dozen Bitcoin ETF applications filed, including those from industry giants such as Fidelity and Invesco, the SEC's decision will have far-reaching implications.
The approval of these apps by the SEC will impact individual investors and set the stage for future financial products related to crypto.
This move is a key step towards wider Bitcoin adoption. In addition, significant growth in major financial markets.
Read more: Where to Trade Bitcoin Futures: A Comprehensive Guide
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