News - Is the Bitcoin Spot ETF coming this week?

By Ted Maas

Is the Bitcoin Spot ETF coming this week?

Bitcoin (BTC)
Price update

Jan. 10 is the final deadline for the first Bitcoin Spot ETF application. But will the SEC approve the ETF before then?

Asset manager BlackRock has not yet received notice from the U.S. Securities and Exchange Commission about the Bitcoin Spot ETF. This reports FOX Business Network reporter Charles Gasparino.

"People at BlackRock say radio silence from SEC", the journalist tells X. This is notable because the U.S. authority has been actively engaging with applicants for the Bitcoin spot ETF in recent weeks.

Gasparino's colleague Eleanor Terrett explained that approval will likely occur by the end of the week. "From what I understand from conversations with issuers [BlackRock, Fidelity and others], the SEC has yet to review and comment on changes," she added.

If the SEC follows an approval timeline similar to that for ETH futures ETFs in 2022, applicants will receive a date by which completed applications are due. According to Terrett, the SEC will approve applications 24 to 48 hours later. Many market observers expect approval on Jan. 10. But according to Reuters, the ETF could be approved as early as today or tomorrow.

Speculating around the ETF's adoption, the Bitcoin price has risen an impressive seven percent over the past 24 hours. At the time of writing, BTC is trading at USD 45,745/€41.458

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