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.

Breaking re BTC ETF: People at @BlackRock say it’s radio silence from @SECGov; @EleanorTerrett’s sources say the amount of paper work the SEC still needs to go through make the announcement likely toward week’s end
— Charles Gasparino (@CGasparino) January 1, 2024

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.

While the @SECGov is surely unpredictable, it would surprise me if approvals were to happen tomorrow.

From what I understand through conversations I’ve had with issuers, the SEC still has to review all the changes made to the S-1s filed on Thursday/Friday AND make comments on… https://t.co/CnkYdXsbD4
— Eleanor Terrett (@EleanorTerrett) January 1, 2024

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