The filing of amended documents by major U.S. exchanges suggests their confidence in the imminent approval of the first U.S. spot Bitcoin ETFs. This development indicates that U.S. spot Bitcoin exchange-traded funds (ETFs) are on the brink of launching. The amended 19b-4 filings, representing BlackRock, Grayscale, Fidelity, and other issuers, complement last month’s amended S-1 filings, addressing feedback from the U.S. Securities and Exchange Commission (SEC). Over a dozen applicants are aspiring to launch the inaugural spot Bitcoin ETFs in the U.S., and it’s expected that multiple issuers may receive simultaneous approval.
Insiders from two different issuers revealed on Thursday that their companies anticipate approvals in the coming week. While filing amendments does not guarantee approvals, there is an optimistic outlook among industry participants. The final deadline for SEC action on at least one application, specifically by Ark 21 Shares, is set for January 10. This suggests that the regulator may approve all final applications it is comfortable with by that date.
Grayscale spokesperson Jenn Rosenthal emphasized the significance of this filing as a crucial step toward transitioning its Bitcoin trust (GBTC) into a spot Bitcoin ETF. Grayscale remains collaborative with the SEC, expressing readiness to operate GBTC as an ETF upon regulatory approvals.
Earlier on Friday, Bloomberg reported that the SEC’s commissioners are expected to vote on the exchange-rule filings next week. It’s important to note that the regulatory agency needs to approve both the 19b-4 filings and the S-1 filings before the ETFs can officially launch.
