The United States Securities and Exchange Commission (SEC) looks set to take a decision in favor of approval of the spot Bitcoin ETF in the next few days, subject to clearance of the 19b-4 and S-1 forms, according to reports.

Also Read: Polygon Flips Solana as Third Largest NFT Trading Network

Bitcoin ETF Approval & Launch

According to a Bloomberg report, the US SEC is set to have a vote on 19b-4 forms in the next few days. The ETF applicants are expected to file form S-1 until 8 am on Monday, January 8, 2024. Earlier, Bloomberg analysts reported that the chance of rejection of the ETF is down to 5%, in the context of the recently held meetings between SEC officials and the representatives of firms seeking approval. The report said,

“If the SEC grants both sets of required approvals, the ETFs could start trading as soon as the next business day.”

Accordingly, an important vote on this matter is pending early this week, in what could be a precursor to the much anticipated approval of the ETFs. The Bitcoin ETF approval could mark an important step in the direction of standardized flow of institutional money into the crypto market. Players like MicroStrategy ($MSTR) are already betting big on the Bitcoin (BTC) Price volatility by continuously investing to accumulate the top cryptocurrency.

The Microstrategy (MSTR) Stock Price and Coinbase (COIN) Stock Price saw significant gains in the recent months over the expectation of a Bitcoin ETF approval, in correspondence with the rise in Bitcoin (BTC) Price.

ETF Launch Date

Going by the speculation, the spot Bitcoin ETF products from the likes of Blackrock, Fidelity, Van Eck, Valkyrie, Bitwise and Grayscale could be up for trade on the stock market starting January 11, 2024. This is based on the January 10 deadline the US SEC officials face in the Ark 21Shares spot Bitcoin ETF filing.

Also Read: XRP ETF Filing To Come Within Weeks After Bitcoin ETF Approval?

✓ Share:

Anvesh reports major crypto updates around U.S. regulation and market moving trends. Published over 1,200 articles so far on crypto and blockchain. A proud dropout of University of Massachusetts, Lowell. Can be reached at [email protected] or twitter.com/BitcoinReddy or linkedin.com/in/anveshreddybtc/

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.