Final Discussions: SEC and Exchanges on Spot Bitcoin ETFs

• SEC and Exchanges Gather to Discuss Spot Bitcoin ETFs
• Market Reaction to the Meetings
• Spot Bitcoin ETFs: A Source of Industry Excitement
• Today's Vital Meeting
• The Report's Highlights
• Bloomberg's Voice on the Speculation

SEC and Exchanges Gather to Discuss Spot Bitcoin ETFs

As reported by Eleanor Terrett of Fox Business, the US Securities and Exchange Commission (SEC) is in meetings with key exchanges including the New York Stock Exchange (NYSE), Nasdaq, and the Chicago Board Options Exchange (Cboe) to finalize discussions on Spot Bitcoin$42,260 -0.64% ETFs.

Market Reaction to the Meetings

Earlier this week, there were rumors of a potential rejection which led to a significant downturn in the market. Within a four-hour interval, more than $540 million was liquidated from the crypto market. However, the current meetings seem to be in line with the wider market expectation of a possible approval early next week.

Spot Bitcoin ETFs: A Source of Industry Excitement

In recent months, the possibility of a Spot Bitcoin ETF in the US has caused considerable anticipation within the digital asset industry. This anticipation contributed to Bitcoin (BTC) exceeding the $45,000 mark for the first time since 2022. Despite the speculation, the approval seems to be back on track.

Today's Vital Meeting

Eleanor Terrett reported that the SEC and multiple exchanges are convening today for final remarks on the Spot Bitcoin ETF issuers. Terrett specifically stated that the meeting brings together the SEC, NYSE, Nasdaq, and Cboe in a significant discussion this week.

The Report's Highlights

The report emphasizes that the meeting will finalize remarks on the 19b-4s tendered by the Bitcoin Spot ETF issuers. Expectations are high for approval to be granted early next week, with January 10th proposed as the deadline for over a dozen potential issuers.

Bloomberg's Voice on the Speculation

Despite the speculation of a rejection, Bloomberg's Erich Balchunas confirmed that there was nothing to indicate anything but approval, for the investment product. Additionally, Balchunas pointed to Terret's report as a sign that approval [is] imminent for the Spot Bitcoin ETF issuers.

Edited by Jonathan Stoker