U.S. spot Bitcoin exchange-traded funds (ETFs) appear to be close to launching after the exchanges where they will be listed filed amended documents, suggesting they will be ready for approval in the coming days by the US Securities and Exchange Commission.
The amended 19b-4 filings, filed on behalf of BlackRock, Grayscale, Fidelity and other issuers, follow last month's amended S-1 filings and incorporate feedback from the U.S. Securities and Exchange Commission (SEC). ). More than a dozen applicants hope to launch the first spot Bitcoin ETFs in the US; It is likely that multiple issuers will be approved at the same time.
Individuals from two different issuers told CoinDesk on Thursday that their companies expect approvals sometime next week.
One of the people told CoinDesk that the filing of the changes does not mean approvals are guaranteed, but said they are optimistic.
A final deadline for SEC action on at least one Ark 21 share application is January 10, suggesting the regulator may approve any final applications it agrees with by that date.
This filing “is another important step in elevating GBTC as a spot Bitcoin ETF,” Grayscale spokeswoman Jenn Rosenthal said in a statement, referring to the company's Bitcoin trust, which it plans to convert into an ETF. “At Grayscale, we continue to work with the SEC and remain prepared to operate GBTC as an ETF upon receipt of regulatory approvals.”
Earlier Friday, Bloomberg reported that SEC commissioners “are expected to vote on the exchange rules filing next week.”
The regulator must approve both 19b-4 filings and S-1 filings before the ETFs can enter the market.
Jesse Hamilton contributed reporting.