SEC could inform spot Bitcoin ETF applicants of approval by Jan. 3 – CryptoSlate
A web3 membership designed to empower you with cutting-edge insights and knowledge. Learn more ›
Welcome! đź‘‹ You are connected to CryptoSlate Alpha. To manage your wallet connection, click the button below.
If you don’t have enough, buy ACS on the following exchanges:
Access Protocol is a web3 monetization paywall. When users stake ACS, they can access paywalled content. Learn more ›
Disclaimer: By choosing to lock your ACS tokens with CryptoSlate, you accept and recognize that you will be bound by the terms and conditions of your third-party digital wallet provider, as well as any applicable terms and conditions of the Access Foundation. CryptoSlate shall have no responsibility or liability with regard to the provision, access, use, locking, security, integrity, value, or legal status of your ACS Tokens or your digital wallet, including any losses associated with your ACS tokens. It is solely your responsibility to assume the risks associated with locking your ACS tokens with CryptoSlate. For more information, visit our terms page.
The global crypto market cap is $1.76 trillion with a 24-hour volume of $66.7 billion. The price of Bitcoin is $45,751.89 and BTC market dominance is 50.9%. The price of Ethereum is $2,425.46 and ETH market dominance is 16.5%. The best performing cryptoasset sector is DuckSTARTER, which gained 23%.
Firms may be notified on Tuesday or Wednesday to prepare for a Jan. 10 launch.
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
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.
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.
Before transitioning to crypto writing in 2018, Mike studied library and information sciences. Currently, he resides on Canada’s West Coast.
CryptoSlate is a comprehensive and contextualized source for crypto news, insights, and data. Focusing on Bitcoin, macro, DeFi and AI.
CryptoSlate’s latest market report dives deep into Bitcoin’s performance over the past year, analyzing a range of metrics to provide a more objective and comprehensive perspective of its YTD growth.
Disclaimer: Our writers’ opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.
Bitget’s rise as a leading crypto exchange with cutting-edge features and strong dedication to transparency and security.
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
BlackRock, synonymous with global asset management, is an American multinational investment management corporation based in New York City.
VanEck is a global investment manager with offices around the world, including New York, Australia, China, Germany, Netherlands and Switzerland.
Valkyrie Investments is a specialized alternative asset management firm at the intersection of traditional finance and the emerging digital asset sector which is headquartered in Nashville.
Bitwise Asset Management pioneered the first cryptocurrency index fund and is the leading provider of rules-based exposure to the cryptoasset space..
Fidelity Investments Inc., commonly referred to as Fidelity, is a multinational financial services corporation based in Boston, Massachusetts.
WisdomTree is a global financial innovator, offering a well-diversified suite of exchange-traded products (ETPs), models, and solutions.
ARK Investment Management LLC (ARK Invest) holds a precision lens on thematic investing.
Established in 2013 by Digital Currency Group, Grayscale Investments is a trusted authority on digital currency investing and cryptocurrency asset management.
Disclaimer: By using this website, you agree to our Terms and Conditions and Privacy Policy. CryptoSlate has no affiliation or relationship with any coin, business, project or event unless explicitly stated otherwise. CryptoSlate is only an informational website that provides news about coins, blockchain companies, blockchain products and blockchain events. None of the information you read on CryptoSlate should be taken as investment advice. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own diligence before making any investment decisions. CryptoSlate is not accountable, directly or indirectly, for any damage or loss incurred, alleged or otherwise, in connection to the use or reliance of any content you read on the site.
© 2024 CryptoSlate. All rights reserved. Disclaimers | Terms | Privacy
Please add “[email protected]“ to your email whitelist.
Stay connected via