Major U.S. Exchanges Post Final Bitcoin ETF Application Filings

• U.S. Bitcoin ETFs Anticipate Approval in Imminent Future
• Anticipated Approval
• Another Step in Uplisting GBTC
• SEC's Expected Vote

U.S. Bitcoin ETFs Anticipate Approval in Imminent Future

Following the adjusted submission of 19b-4 filings by the exchanges set to list them, U.S. spot Bitcoin$42,260 -0.64% Exchange-Traded Funds (ETFs) are seemingly close to launch. These filings have been submitted on behalf of BlackRock, Grayscale, Fidelity, and various other issuers, supplementing last month's revised S-1 filings that addressed feedback from the U.S. Securities and Exchange Commission (SEC). Over a dozen hopefuls are looking to introduce the pioneer spot Bitcoin ETFs in the U.S., with approval likely for multiple issuers at once.

Anticipated Approval

Two different issuers revealed to a source on Thursday that their companies expect to receive approvals sometime next week. It was also indicated by one of them that making the amendments did not necessarily mean approvals were a given, but there was a sense of optimism. The SEC's final date for action on at least one application by Ark 21 Shares is January 10, insinuating that the regulator may approve all of the final petitions it is comfortable with by then.

Another Step in Uplisting GBTC

This filing is another significant stride towards uplisting GBTC as a spot Bitcoin ETF, said Grayscale spokeswoman Jenn Rosenthal in a statement. She was referring to the company's Bitcoin trust that it intends to convert into an ETF. We continue to collaborate with the SEC here at Grayscale, and we stand prepared to operate GBTC as an ETF upon approval receipt from the regulator.

SEC's Expected Vote

Bloomberg reported earlier on Friday that the SEC's commissioners are expected to vote on the exchange-rule filings next week. For the ETFs to launch, the regulatory agency must approve both the 19b-4 filings and the S-1 filings.

Edited by Jonathan Stoker