Firms Rush to Meet SEC Rules for Bitcoin Spot ETF Approval
• Firms need to have a cash-redemption model, not an in-kind transaction model, to get SEC approval for a spot bitcoin ETF
• Firms are rushing to get agreements signed with authorized participants to meet SEC requirements
• Not all firms seeking to launch spot bitcoin ETFs may be ready in time for the January approvals
• The bitcoin spot market now has sufficient depth and liquidity to prevent manipulation, strengthening the case for ETF approval
• Bigger financial institutions entering the bitcoin space can offer investor protections and reputation that the SEC wants to see