The broad crypto community earnestly awaits a potential spot Bitcoin ETF approval from the United States Securities and Exchange Commission (SEC), especially as the stipulated date for a decision draws closer.<\/span><\/p>\n Two senior ETF analysts at Bloomberg Eric Balchunas and James Seyffart have remained in the forefront of discussions relating to the SEC\u2019s decision on the numerous spot Bitcoin ETF applications. They both predicted <\/a><\/span>that the odds of receiving approval for the new product are at 90%.\u00a0<\/span><\/p>\n <\/p>\n Recently, Seyffart announced that the SEC has a narrow window<\/a><\/span> in which it will either approve or reject multiple Bitcoin spot ETFs in the United States. He said that this window now lies between January 5 and 10, 2024 meaning that the approval come before that time or within the week.\u00a0<\/span><\/p>\n In response to Seyffart\u2019s post, Balchunas urged members of the public to look out for more S-1 filing amendments this week. On the other hand, the analyst confirmed that there would be no updated 19b-4s as the regulator has asked all potential Bitcoin ETF issuers to send them offline. Crypto asset management firm Hashdex was one of the most recent firms to amend its 19b-4 filing<\/a><\/span>\u00a0with the SEC.<\/span><\/p>\n LATEST: Look for updated S-1 filings this week (which answer round two comments from SEC which I heard were exhaustive and poss final). But.. we won\u2019t see updated 19b-4s bc SEC asked issuers to send back offline for now. Those prob be re-filed just bf approval date (see below) https:\/\/t.co\/ZhtN86f0Q3<\/a><\/p>\n <\/p>\n \u2014 Eric Balchunas (@EricBalchunas) December 4, 2023<\/a><\/p>\n<\/blockquote>\n <\/p>\n There is also the subject of the potential ETF redemption model. Notably, the agency\u2019s Trading and Markets division had a meeting with some of the applicants for the spot Bitcoin ETF offering. In BlackRock\u2019s meeting with the SEC, the regulator talked about <\/a><\/span>the choice of \u201ccash create\u201d model summary or \u201cin-kind\u201d redemption model for the impending ETF offering.\u00a0<\/span><\/p>\n Applicants like BlackRock seem to prefer the in-kind model to cash create, as it presents the cleanest structure for the asset manager and its end investors. Balchunas pointed out a rumor that only cash creates will be allowed in first grouping. If the rumors turn out to be true and BlackRock sticks to its choice of \u2018in-kind\u2019 redemption model, the asset manager is likely to miss out on the first grouping.<\/span><\/p>\n Also, it is not yet certain if Grayscale will be allowed to convert its GBTC to an ETF with the first grouping even after updating its application<\/a><\/span>. Expectations are still building in anticipation of whatever the SEC\u2019s decision will be.<\/span><\/p>\n <\/p>\n \u2713 Share:<\/p>\n <\/a><\/p>\n <\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n <\/p>\n Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on Twitter<\/a>, Linkedin<\/a> <\/p><\/div>\n<\/p><\/div>\n The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n <\/p><\/div>\nBitcoin ETF Trends to Watch<\/strong><\/h2>\n
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BTC ETF Redemption Models<\/strong><\/h2>\n
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