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Bitcoin ETF Trading To Begin A Day After US SEC Approval – Crypto News

Published

2 years ago

January 8, 2024

Dripp

The United States Securities and Exchange Commission (SEC) looks set to take a decision in favor of approval of the spot Bitcoin ETF in the next few days, subject to clearance of the 19b-4 and S-1 forms, according to reports.

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Bitcoin ETF Approval & Launch

According to a Bloomberg report, the US SEC is set to have a vote on 19b-4 forms in the next few days. The ETF applicants are expected to file form S-1 until 8 am on Monday, January 8, 2024. Earlier, Bloomberg analysts reported that the chance of rejection of the ETF is down to 5%, in the context of the recently held meetings between SEC officials and the representatives of firms seeking approval. The report said,

“If the SEC grants both sets of required approvals, the ETFs could start trading as soon as the next business day.”

Accordingly, an important vote on this matter is pending early this week, in what could be a precursor to the much anticipated approval of the ETFs. The Bitcoin ETF approval could mark an important step in the direction of standardized flow of institutional money into the crypto market. Players like MicroStrategy ($MSTR) are already betting big on the Bitcoin (BTC) Price volatility by continuously investing to accumulate the top cryptocurrency.

ETF Launch Date

Going by the speculation, the spot Bitcoin ETF products from the likes of Blackrock, Fidelity, Van Eck, Valkyrie, Bitwise and Grayscale could be up for trade on the stock market starting January 11, 2024. This is based on the January 10 deadline the US SEC officials face in the Ark 21Shares spot Bitcoin ETF filing.

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