The SEC has not decided on multiple pending spot Bitcoin ETF applications, with many in the space split on how the commission will handle the investment vehicle.
Many are speculating on the ramifications of the United States Securities and Exchange Commission (SEC) potentially deciding on exchanges listing a spot Bitcoin (BTC) exchange-traded fund ahead of a Jan. 10 deadline.
At the time of publication, the SEC had not announced whether it planned to approve or disapprove of multiple spot BTC exchange-traded product applications in its pipeline. The commission has until Jan. 10 to decide whether to reject or approve listing shares of a Bitcoin ETF from ARK Invest and 21Shares. Analysts speculated that should the SEC approve one spot crypto investment vehicle, it could approve multiple ones.
A Jan. 3 report from 10x Research’s Markus Thielen suggested that despite bullish trends in the price of Bitcoin, ETF applicants hadn’t met the requirements necessary for SEC approval. The research paper was released amid reports the SEC planned to hold meetings with major exchanges to finalize comments on applications submitted by spot crypto ETF issuers.
