In what may be a massive development for the industry, the US Securities and Exchange Commission (SEC) talks with Spot Bitcoin ETF issuers have advanced to key technical details. Indeed, Reuters reported the progressions in discussions, and why it may signal a shift toward a potential approval.
The report notes that 13 firms have pending Bitcoin ETF applications currently with the agency. Moreover, those entities include asset management firms like BlackRock, Fidelity, Grayscale Invesmtns, and ARK Investments. Earlier this week, several of those firms made important amendments to their applications.
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SEC And Spot Bitcoin ETF Issuers Talks Make Notable Advancement
For much of the last several months, the digital asset market has pondered the impact of a potential Spot Bitcoin ETF approval. With more than a dozen firms seeking to create the investment product, the SEC could be poised to issue a landmark approval. Therefore, marking the very first Spot Bitcoin ETF in the United States.
Now, that prospect may be another step closer to becoming reality. Indeed, Reuters reports that the SEC and Spot Bitcoin ETF issuer’s discussions have advanced to key technical details. Moreover, the report notes that this could be indicative of an impending approval, according to industry executives.
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Throughout the market, there remains the belief that such a Bitcoin ETF would provide an optimal way for investments in digital assets to take place. However, the SEC has long stood against this ideal. Subsequently stating that the product presents a danger to these investors.
Yet, since a court loss in August regarding Grayscale’s ETF application, the SEC appears to be more open to issuer discussions. Now, the reports have indicated that these discussions have presided regarding “substantive details.” Ultimately, these kinds of talks regarding things like customer arrangments and investor risk disclosures typically signal the application process is nearing its conclusion.