The Future of Bitcoin ETF Approvals: An Analysis

The Future of Bitcoin ETF Approvals: An Analysis

TechCrunch reporter Jacquelyn Melinek recently provided an update on the expected timeline for spot Bitcoin exchange-traded fund (ETF) approvals. In her previous statement, Melinek hinted at potential approval but did not explicitly state it. However, in a new message on X, she postponed the expected date and mentioned that approvals could now be next week. Melinek cited the slow pace of progress and the behind-the-scenes work being conducted by the government as reasons for the delay. While disappointing, Melinek emphasized that she cannot control the changing circumstances.

Melinek also mentioned that issuers will likely finalize their 19b-4 filings on Friday or Monday, which will then be made public. These filings are crucial for exchanges such as Nasdaq, NYSE Arca, and Cboe BZX to list each spot Bitcoin ETF. As of now, the U.S. Securities and Exchange Commission (SEC) has not published any updates on its national securities exchange page regarding these filings.

Other high-profile commentators also revised their predictions on spot Bitcoin ETF approvals. Fox Business reporter Eleanor Terrett, who initially suggested a possible approval on Friday, now expects it to happen next week. She added that applicants will likely submit their 19b-4 filings today. Similarly, Bloomberg ETF analyst James Seyffart, who previously anticipated approval by Jan. 10, still believes that potential approval orders will be issued next week.

The SEC now faces a decision on a joint application from Ark Invest and 21Shares by Wednesday, Jan. 10. While there is a chance of rejection, many commentators predict that the SEC will approve this ETF and other applications. The optimism surrounding approval is fueled by numerous meetings between the SEC and ETF applicants, frequent amendments to applications, and the involvement of major asset management firms like BlackRock and Fidelity.

As we await the SEC’s decision on Bitcoin ETF approvals, it is clear that the process is intricate and subject to various factors. The postponement of the expected date for approvals and the ongoing behind-the-scenes work highlight the meticulous nature of the regulatory process. While delays may frustrate investors and enthusiasts, it is crucial to remember that these decisions have significant implications for the cryptocurrency market. The involvement of major players in the asset management industry further emphasizes the growing mainstream acceptance of cryptocurrencies like Bitcoin.

Regulation

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