Today Is The First Day That The SEC Will Accept All 12 Spot Bitcoin ETFs

The SEC may approve all 12 spot Bitcoin ETF registrations within an eight-day timeframe from November 9 to November 17, based on Bloomberg ETF experts James Seyffart and Eric Balchunas.

Source: kriptokoin.com

Over the following eight days, all twelve of the present applications for spot Bitcoin exchange-traded funds (ETFs) might be approved by the US Securities and Exchange Commission or SEC. James Seyffart and Eric Balchunas, Bloomberg ETF experts, noted that the SEC has a "doorway" beginning on November 9 to sign off on all 12 spot Bitcoin ETF registrations, notably Grayscale's conversions of its GBTC trust goods, in the days preceding November 17. However, they emphasized that this is just the beginning potential.

This short gap was created since the SEC chose November 8 as the final day of the input period when it delayed the due date for many of the outstanding spot Bitcoin ETF registrations. The three filings—the Global X Bitcoin Trust, the Hashdex Bitcoin ETF, and the Franklin Bitcoin ETF—will have a fresh comment period starting on November 17. This means that decisions about their approval or denial won't be made until at least November 23. Although the deadline for receiving all twelve submissions is November 17, Seyffart clarified that, in theory, the SEC might decide on nine of the twelve proposals at any point before January 10.

Grayscale and SEC Are Negotiating The Conversion Of GBTC

Following a CoinDesk story from November 9, Grayscale, a cryptocurrency asset management, has allegedly started talking to the SEC about its request to turn its trust product, GBTC, into a spot Bitcoin exchange-traded fund (ETF), as market analysts anxiously await the agency's verdict.

As per well-informed sources, Grayscale has maintained communication with the SEC's Division of Trading and Commodities and the Division of Corporation Finance ever since triumphing against the government agency in court on August 29. Despite the price of Bitcoin rising by more than 30% over the past three months, there is confidence in the cryptocurrency market and an apparent rise in the likelihood that a Bitcoin ETF would be authorized. Recently, the massive surge in the price of Bitcoin has also boosted the movement of other significant assets.

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