New Date Announced for Bitcoin ETFs: Remarkable Statement from Company Officials

U.S. Securities and Exchange Commission (SEC) officials met with representatives of at least seven companies aiming to promote spot Bitcoin exchange-traded funds on Thursday.

Key participants in these meetings included representatives from BlackRock, Grayscale Investments, ARK Investments, and 21 Shares. Experts who closely follow the public memos and interviews indicate that at least two companies have been advised to submit their final changes by the end of the week.

Executives from the two companies who attended the regulatory meetings spoke on condition of anonymity, explaining that the SEC has set a deadline of Dec. 29 for the final updates to its filings. Furthermore, regulators have reported that any issuer that fails to meet this deadline will not be included in the first wave of potential approvals for spot Bitcoin ETFs in early January.

The joint proposal of ARK Investments and 21 Shares, which is currently under SEC scrutiny, is expected to be decided by Jan. 10. Market watchers predict that the SEC may approve multiple applications at once in the days leading up to this deadline.

According to reports from the meeting, representatives from exchanges such as Nasdaq and Cboe, where new products can be traded, as well as legal representatives of issuers, took part in the meetings.

As Koinfinans.com reported, it should be noted that the SEC has consistently rejected several applications to promote spot Bitcoin ETFs. The regulator has also frequently raised concerns about the crypto market's propensity for manipulation. So far, the SEC has only approved Bitcoin and Ethereum ETFs linked to futures contracts traded on the Chicago Mercantile Exchange.

However, in recent months, there has been a growing indication that regulators may be inclined to approve at least some of the 13 proposed spot Bitcoin ETFs. Some attribute the shift to a landmark federal appeals court ruling in August, which determined that the SEC had accepted Grayscale's proposal to convert its trust into an ETF.

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