- SEC sets a deadline for spot Bitcoin ETF issuers to submit final revisions by Monday at 8 a.m. in Washington.
- The regulator is expected to make decisions on spot Bitcoin ETF applications no later than January 10.
- Approval of 19b-4 filings by exchanges and S-1 forms by ETF issuers is required for spot Bitcoin ETFs to start trading.
In a pivotal moment for the crypto industry, the launch of spot Bitcoin exchange-traded funds (ETFs) in the United States is teetering on the edge of reality. According to a recent report by Bloomberg, the U.S. Securities and Exchange Commission (SEC) has set a critical deadline for potential issuers, allowing spot Bitcoin ETFs to start trading as soon as January 11.
The looming deadline requires spot Bitcoin ETF issuers to submit final revisions to their pending S-1 applications by 8 a.m. on Monday, January 8, in Washington. The SEC, led by Chair Gary Gensler, is expected to make critical decisions on these applications by January 10.
For spot Bitcoin ETFs to initiate trading, two key requirements must be fulfilled. Firstly, the SEC must greenlight the 19b-4 filings submitted by exchanges looking to list these ETFs. Secondly, the regulator must approve the S-1 forms submitted by ETF issuers.
If the SEC grants approval for both the 19b-4 filings and the S-1 forms, spot Bitcoin ETFs could commence trading by January 11. This development is expected to unlock billions of dollars in potential inflows from both retail and institutional investors.
Nonetheless, the SEC has once again sounded the alarm on the perils of FOMO (Fear of Missing Out) investing in the crypto market. In an X post on January 6, the SEC’s Office of Investor Education reiterated its warning to retail investors about trends like online investing, digital assets, meme stocks, and NFTs.
Historical reluctance from the SEC, under both Gary Gensler and former Chair Jay Clayton, has prevented the launch of such products. Concerns about investor protection and the potential for market manipulation have been cited as reasons for denial.
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