Posted 1/4/2024, 11:30:00 AM
Bitcoin ETF Approval Eyed as SEC Engages Industry Ahead of January Deadline
- Excitement growing over potential approval of a spot bitcoin ETF in the US, with a key deadline of January 10th
- SEC has been meeting with exchanges and issuers to address aspects of ETF filings, like requiring cash creation instead of in-kind
- Cash creation means authorized participants purchase ETF shares with cash rather than the underlying asset directly
- Fidelity filed a form to allow exchanges to list shares, a procedural step needed for approval and trading
- Other filings and actions hint at likely ETF approval, though no definitive smoking gun yet