coinspress.com
By December 29, the U.S. SEC demands companies intending to launch ETFs linked to Bitcoin prices to finalize their submissions, marking a significant shift in cryptocurrency regulation.
Following a meeting on December 21 involving SEC officials and representatives from financial giants like BlackRock, Grayscale Investments, ARK Investments, and 21 Shares, a clear message emerged.
Early January will see the SEC starting approvals for these ETFs. Missing the December deadline means exclusion from the initial round of approvals, pushing applications to early 2024.
The submissions require detailed plans on technicalities, fees, and initial funding strategies for the ETFs.
This move suggests a notable shift from the SEC’s historical caution towards spot Bitcoin ETFs, hinting at a potential regulatory breakthrough.
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This development opens doors for mainstream investor access to cryptocurrency markets through regulated channels.
The industry awaits the SEC’s decisions in January, poised to potentially revolutionize cryptocurrency investments and integrate digital currencies further into the global financial system.