{"id":232837,"date":"2024-01-20T09:51:04","date_gmt":"2024-01-20T04:21:04","guid":{"rendered":"https:\/\/dripp.zone\/news\/us-sec-acknowledged-options-for-spot-bitcoin-etfs-approval-by-feb-end-crypto-news\/"},"modified":"2024-01-20T09:51:06","modified_gmt":"2024-01-20T04:21:06","slug":"us-sec-acknowledged-options-for-spot-bitcoin-etfs-approval-by-feb-end-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/us-sec-acknowledged-options-for-spot-bitcoin-etfs-approval-by-feb-end-crypto-news\/","title":{"rendered":"US SEC Acknowledged Options for Spot Bitcoin ETFs, Approval By Feb End? – Crypto News"},"content":{"rendered":"

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Within three days of filing the 19b-4<\/a> for the options trading of the spot Bitcoin ETFs, the U.S. Securities and Exchange Commission (SEC) has acknowledged the request.<\/p>\n

Options for spot Bitcoin ETFs Coming Next Month?<\/h3>\n

Bloomberg\u2019s senior ETF strategist, James Seyffart, reveals that the U.S. Securities and Exchange Commission (SEC) has acknowledged the 19b-4s requesting permission to trade options on spot Bitcoin exchange-traded funds (ETFs). This process is notably faster than the SEC\u2019s usual pace.<\/p>\n

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Seyffart speculates that options trading could receive approval as early as the end of February if the SEC opts for an expedited review. However, he notes that the absolute earliest timeframe for a decision is approximately 27 days away. On the other hand, the absolute latest decision could be expected around September 21, 2024.<\/p>\n

Responding to inquiries about the accelerated timeline, Seyffart emphasizes that this process is notably quicker than other 19b-4 submissions. Drawing from his experience, he highlights<\/a> instances where it took as little as 14 days for similar requests. Notably, the 19b-4 submissions in question were posted on January 16, making the current evaluation period only three days old.<\/p>\n

Day 5 of the BTC ETFs Going Live<\/h3>\n

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In a recent update, Bloomberg\u2019s ETF strategist, Eric Balchunas, reflects on the fifth day of trading, which has seemingly felt more prolonged than its actual duration. The total rolling net flows for the week stand at +$1.2 billion, experiencing a slight downturn following $GBTC\u2019s substantial -$582 million, surpassing the Nine\u2019s +$447 million.<\/p>\n

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LATEST: Day Five (but its felt like months hasn’t it?) is in books TOTAL ROLLING NET FLOWS at +$1.2b, down a bit after $GBTC<\/a>‘s whopper -$582m edged out the Nine’s +$447m. $GBTC<\/a> bloodbath up to -$2.2b vs the Nine’s +$3.3b w\/ $6.6b in volume. $FBTC<\/a> joins $IBIT<\/a> in the Billy Club. pic.twitter.com\/q6pFIrPTFV<\/a><\/p>\n

\u2014 Eric Balchunas (@EricBalchunas) January 19, 2024<\/a><\/p>\n<\/blockquote>\n

The $GBTC\u2019s decline has contributed to a significant bloodbath, now totaling -$2.2 billion, compared to the Nine\u2019s robust +$3.3 billion<\/a>, accompanied by a notable $6.6 billion in volume. Balchunas notes the inclusion of $FBTC, which has joined $IBIT in the Billy Club, signifying noteworthy developments in the market landscape.<\/p>\n

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Balchunas added: \u201cAfter five days of existence the Newborn Nine have about 40% of the bitcoin holdings of MicroStrategy \u201c. Here\u2019s a look into the total inflows of the spot Bitcoin ETFs within the initial five days of trading.<\/p>\n

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NEW: \ud83c\uddfa\ud83c\uddf8 Top 5 spot #Bitcoin<\/a> total inflows as of yesterday: \ud83d\ude80<\/p>\n

BlackRock: $1.23 billion
Fidelity: $1.06 billion
Bitwise: $393 million
ARK 21Shares: $319 million
Invesco Galaxy: $194 million pic.twitter.com\/hVDwOM4YQS<\/a><\/p>\n

\u2014 Bitcoin Magazine (@BitcoinMagazine) January 19, 2024<\/a><\/p>\n<\/blockquote>\n

After some selling pressure on Thursday, January 18, the BTC price has bounced back above $42,000 levels as of press time.<\/p>\n

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