SEC could inform spot Bitcoin ETF applicants of approval by Jan. 3
Firms may be notified on Tuesday or Wednesday to prepare for a Jan. 10 launch.
The United States’ main securities regulator could inform spot Bitcoin ETF applicants of approval in the coming days, Reuters said on Dec. 29 .
According to that report, the U.S. Securities and Exchange Commission (SEC) may tell applicants on Tuesday, Jan. 2 or Wednesday, Jan. 3 that they have clearance to launch their exchange-traded funds.
This would reportedly give those applicants time to prepare for launch on Jan. 10. The SEC must approve or reject an application from Ark/21Shares at that time but could also decide on other pending applications simultaneously.
At least a dozen asset managers intend to offer a spot Bitcoin ETF on various exchanges including Nasdaq, Cboe BZX, and NYSE Arca.
Reuters did not state which applicants are likely to receive approval but noted that several firms submitted amendments on Dec. 29 in line with a deadline for changes. Firms that submitted amendments then include BlackRock , VanEck , Valkyrie , Bitwise , Invesco, Fidelity , and WisdomTree ; other firms including Ark Invest and Grayscale recently submitted amendments as well.
Asset managers engaged with SEC earlier
The Dec. 29 batch of amendments is just one example of recent engagement between the SEC and asset managers. Several applicants took part in a rare joint conference call with the SEC on Dec. 21 and attended earlier individual discussions; each firm has also submitted numerous previous amendments.
Recent discussions concern cash creations and redemptions . Many applicants initially aimed to allow in-kind creations and redemptions, which would allow some ETF participants to transact in Bitcoin. However, this feature appears unlikely to gain approval initially, as recent amendments instead emphasize cash models. Regardless, any spot Bitcoin ETF will require the fund or its partners to hold Bitcoin ( BTC ), thereby driving demand for the cryptocurrency.
Earlier matters concerned surveillance-sharing agreements and the prevention of market manipulation — issues that have largely been resolved.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
XRP Weekly Chart Blue Lines Point to These Long-Term Price Targets
The 10-year US Treasury yield approaches 5.4%, with the AI halo unable to hide the "inflated" risks of the S&P 500
Behind the S&P 500's record high, only 30% of its constituent stocks are above their 50-day moving average, marking the narrowest market breadth at a record high since 1990. The Russell 2000 has fallen for five consecutive weeks, and high-yield bond yields have soared to 15%. Societe Generale warns that if US Treasury yields rise to 6% and oil prices reach $150, the S&P 500 could fall by more than 20% next year. In addition, some top-performing fund managers have completely exited AI stocks in favor of energy, stating that once financing dries up, it will be "game over."
Oil tanker freight reaches a sixty-year high: shipping oil from the US to China is more expensive than launching a rocket!
The freight for a single barrel of crude oil has soared to $41, approaching half the oil price, and for a single trip, the freight was once enough to buy an oil tanker. The Middle East crisis has led to a structural shortage of shipping capacity in the Strait of Hormuz, coupled with ship-to-ship transfers extending turnaround times. VLCC freight rates have skyrocketed from an annual average of $9.2 million to $77 million—an increase of more than eight times. Refiners’ profits are being rapidly eroded, the average price of second-hand oil tankers has reached a historic high, and, unusually, surpassed the price of new vessels.
Following the Drop but Not the Rise! Silver Trapped in Difficulties
The logic of AI and solar energy demand continues to play out, yet prices are falling against the trend—macroeconomic forces such as a strengthening US dollar and rising real interest rates have completely suppressed fundamentals. Speculative funds offloaded $1.6 billion in a single week, marking a yearly peak, while CTA net short positions reversed by $2.6 billion to the highest level this year. However, Goldman Sachs analysts believe that the extreme short positioning itself is building reversal momentum, highlighting an asymmetry; once macro headwinds subside, a retaliatory rebound could be easily triggered. After a similar shakeout last time, silver surged 15% in six weeks.
Crypto prices
More
