Potential Delay in SEC Committee’s Decision on Spot Bitcoin ETF
Fox Business journalist Eleanor Terrett has reported that the U.S. Securities and Exchange Commission (SEC) may opt to postpone their decision regarding spot Bitcoin exchange-traded funds (ETFs).
According to Terrett, the SEC committee, consisting of five members, still has the option to delay the approval of a spot Bitcoin ETF. While no formal vote has been scheduled, each member of the committee has the authority to request a comprehensive review and vote on the matter based on their own judgment.
Senior ETF Analyst for Bloomberg, Eric Balchunas, commented on Terrett’s post, stating that the current situation accurately reflects the regulatory landscape. However, he expressed no concerns, asserting that the SEC staff works diligently with issuers. Balchunas believes that approving applications for spot Bitcoin ETFs should not be a complicated process.
In the meantime, sources at Bloomberg anticipate that the SEC will make rulings on several applications for spot Bitcoin ETFs on January 10. Bloomberg also reported that the agency plans to vote on the exchanges’ filings (19b-4) in the upcoming days. Subsequently, the regulator could reach a decision on Form S-1 around the same time.
As the SEC’s decision looms, the cryptocurrency community remains divided. Some believe that the regulator will adhere to the specified time frame for deciding on the applications, while others anticipate further delays in the approval of ETFs. However, contrary to market expectations, the price of Bitcoin has increased as it surpassed the $47,000 threshold, reaching its highest point in several months.
