SEC May Approve Up to 12 Bitcoin ETF Applications
09 Nov, 2023 ● Crypto News
Within the next eight days, the US Securities and Exchange Commission (SEC) could approve all 12 pending spot Bitcoin (BTC) exchange traded fund (ETF) applications.
Bloomberg ETF analysts James Seyffart and Eric Balchunas stated that the SEC has a "window" starting Nov. 9 in the United States to approve all 12 spot Bitcoin ETF filings — including Grayscale's conversion of its GBTC trust product — in the days leading up to Nov. 17, but this is only a possibility.
“Delay orders were issued by the SEC for BlackRock, Bitwise, VanEck, WisdomTree, Invesco, Fidelity & Valkyrie at the same time,” Seyffart said in a Nov. 8 post on X (formerly Twitter).
“If the agency wants to allow all 12 filers to launch — as we believe — this is the first available window since Grayscale's court victory was affirmed.”
The reason for this brief window is that when the SEC extended the deadline for a number of the pending spot Bitcoin ETF filings, it selected Nov. 8 as the last day of the comment period.
From Nov. 17, the comment period for the 3 filings of Global X Bitcoin Trust, Hashdex Bitcoin ETF and Franklin Bitcoin ETF would recommence, meaning that they would not be approved nor denied until after Nov. 23 at the earliest.
While the window for accepting all 12 filings ends on Nov. 17, Seyffart also noted that the SEC could technically make a decision on nine out of the twelve applications anytime before the 10th of January in the upcoming year.
Sources:
https://cointelegraph.com/news/bitcoin-etf-approval-window-sec-bloomberg-analysts
