SEC and Grayscale Discuss Spot Bitcoin ETF in Recent Meeting

• SEC and Grayscale Engage in Yet Another Meeting about Bitcoin ETF
• Grayscale Among Potential Issuers for First-Spot Bitcoin ETF
• Grayscale and SEC Meeting Follows BlackRock's Discussion
• Expectations High for Early January Approval
• SEC's Concerns over Money Laundering

SEC and Grayscale Engage in Yet Another Meeting about Bitcoin ETF

As expectation builds up and the potential approval seems imminent, the US Securities and Exchange Commission (SEC) and Grayscale have convened yet again to deliberate on a spot Bitcoin$42,260 -0.64% ETF. According to a report by Bloomberg's James Seyffart, this meeting was held earlier this week as the deadline for a decision, set for January 10th, draws near.

Grayscale Among Potential Issuers for First-Spot Bitcoin ETF

Grayscale is one of over a dozen potential issuers striving to lead the first-spot Bitcoin ETF in the United States. It's noteworthy that the SEC has engaged in several meetings with potential issuers over the past few weeks to discuss required amendments to the applications.

Grayscale and SEC Meeting Follows BlackRock's Discussion

It's important to note that this SEC and Grayscale meeting succeeded another conversation between BlackRock and the SEC, which was held just a day earlier. Bloomberg's Eric Balchunas recorded that both corporations have had sessions with the agency five and four times, respectively.

Expectations High for Early January Approval

Many predict that approval will be granted in the early days of January, with figures such as Mike Novogratz from Galaxy Digital among this expectant group. Novogratz made his sentiments known during a CNBC interview, where he projected an approval to be released before the January 10th deadline. In comparison, some insiders pegged the January 5th-10th period as the likely timeframe for a decision.

SEC's Concerns over Money Laundering

Charles Gasparino of Fox Business Network suggested that the decision is more likely to come after January 8th. He, and many others, have highlighted the SEC's apprehension about money laundering as a potential obstacle to approval. As a result, cash-only purchases of shares have come under discussion between potential issuers and the SEC.

Edited by Jonathan Stoker