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The U.S. Securities and Exchange Commission (SEC) is gearing up for a significant milestone this week as it prepares to make a pivotal decision regarding the listing of spot bitcoin exchange-traded funds (ETFs). Among the six applications under consideration, one of them belongs to BlackRock. The ticking clock intensifies the anticipation surrounding this critical moment.
Bitwise's application for the Bitcoin ETP Trust was submitted to the Federal Register on Tuesday, with the subsequent inclusion of the following information in that compilation on Wednesday:
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Fidelity's Wise Origin Bitcoin Trust
Although the SEC recently released documents for public consultations on bitcoin ETFs, the official review process only commences upon the publication of filings in the register. Initially, a 45-day deadline is established, but this timeframe can be extended up to 240 days.
The register serves as the official daily publication of the U.S. government, encompassing executive orders, federal agency regulations, proposed agency rules, and other legally required documents.
Although the SEC's approval of any of the applications is not assured, the submission from industry leader BlackRock has heightened speculation that permission is increasingly probable.
On May 15, a new bitcoin ETF application, known as the ARK 21Shares Bitcoin ETF, was submitted to the Federal Register. Later in June, the SEC granted an extension to the approval deadline for this application.
Valkyrie's spot-bitcoin ETF, although not yet listed on the Federal Register, received acceptance for their application from the SEC on Monday, as confirmed by a spokesperson from Valkyrie.
