Anvesh Reddy
In an unexpected turn of events, the United States Securities and Exchange Commission (SEC) issued additional comments on pending applicants’ form S-1s as part of the spot Bitcoin ETF applications. This came amid high hopes of an approval announcement anytime before the January 10, 2024 deadline.
Also Read: Thailand Approves ‘Digital Wallet’ Plan of $14Bn Amid Fiscal Debate: Report
Delay Or Swift Action?
According to Perianne Boring, the President and founder of the Chamber of Digital Commerce, the latest development is a delay signal from the agency. However, Bloomberg analyst James Seyffart believes the issuance of additional comments is not necessarily a move to delay the ETF approval.
The analyst said it was unusual that the form S-1s were sent to the SEC and the agency returned with additional comments the same day, in an indication of how quick the SEC is acting when it comes to the Bitcoin ETF applications.
“Really this just shows how quickly the SEC is turning these things around. If they wanted to delay — the issuers wouldn’t have gotten comments back tonight”
The SEC officials face a deadline of January 10, 2024, before which they would have to take a decision on the approval or rejection of the Ark 21Shares spot Bitcoin ETF filing. The Ark 21Shares filing was among the first few applications, after which the likes of Blackrock, Fidelity, Bitwise, Van Eck and Valkyrie followed.
Also Read: XRP ETF Filing To Come Within Weeks After Bitcoin ETF Approval?
✓ Share:
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.
