The long-awaited debut of U.S. spot Bitcoin exchange-traded funds (ETFs) is edging closer to reality as major exchanges have posted amended filings, indicating their confidence in the forthcoming approval by the U.S. Securities and Exchange Commission (SEC).
The latest 19b-4 filings, recently submitted by prominent entities such as BlackRock, Grayscale, Fidelity, and others, supplement last month's amended S-1 filings. These amended documents address feedback from the SEC, a crucial step toward launching the first-ever spot Bitcoin ETFs in the United States. With over a dozen applicants vying for approval, multiple issuers are anticipated to secure simultaneous approvals.
Representatives from two separate issuers shared with CoinDesk on Thursday their expectations of imminent approvals, hinting at a potential nod from the SEC as early as next week. However, it's important to note that while these filings are promising, they don't guarantee approvals, despite the prevailing optimism among industry insiders.
For one application, submitted by Ark 21 Shares, the SEC faces a final deadline of January 10, signaling the regulator's potential move to approve all eligible applications by that date.
Grayscale, a significant player in the crypto investment sphere, expressed enthusiasm regarding their bitcoin trust, GBTC, poised for transformation into a spot bitcoin ETF. Jenn Rosenthal, a Grayscale spokeswoman, acknowledged this recent filing as a crucial stride toward achieving their goal. She highlighted their ongoing collaboration with the SEC and the readiness to operate GBTC as an ETF once regulatory approvals are secured.
The imminent approval of U.S. spot Bitcoin ETFs marks a pivotal moment for cryptocurrency enthusiasts, investors, and the broader financial market, potentially offering a regulated and mainstream investment vehicle for exposure to the world's most prominent digital asset.