News - Is the Bitcoin Spot ETF imminent?

By Luc Vesters

Is the Bitcoin Spot ETF imminent?

Bitcoin (BTC)

The number of meetings is rising and the pressure on the SEC is increasing: Approval of the Bitcoin Spot ETF is probably imminent. The Reuters news agency reports that BlackRock, ARK Invest, 21 Shares and other mutual funds are already working on the final details of their plans.

According to Reuters, the U.S. Securities and Exchange Commission (SEC) has been meeting with representatives of the applicants since September. These include high-caliber companies such as BlackRock, Ark Invest and Grayscale. Some meetings even took place in the office of SEC Chairman Gary Gensler. Topics such as custody and the risks to investors were discussed. BlackRock for example, adjusted his application again based on the discussions.

The fact that the SEC and industry representatives are increasingly talking to each other is seen as an indication that a decision is imminent. Market observers are currently looking at Jan. 10, 2024 as a possible decision date for or against a spot ETF. This is the last possible deadline for the ARK Invest Bitcoin Spot ETF.

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