The SEC wants to minimize the number of intermediaries in spot Bitcoin ETFs to make them a “little more controllable,” Bloomberg ETF analyst Eric Balchunas said.
As the cryptocurrency community awaits the potential approval of a spot Bitcoin (BTC) exchange-traded fund (ETF) in the United States in January, today marks a significant deadline.
The U.S. Securities and Exchange Commission (SEC) said last week that spot Bitcoin ETF applicants must file final S-1 amendments by Dec. 29. The regulator also required them to sign an agreement with an authorized participant (AP) and sort out the cash-create redemption model it favors.
The deadline means that today, the community is likely to find out which spot Bitcoin ETF filers out of 14 applicants could be in the first wave of potential spot BTC ETF approvals, which is largely expected in early January.
