With the anticipation of potential approval growing, both the US Securities and Exchange Commission (SEC) and Grayscale have held yet another meeting to discuss a spot Bitcoin ETF. Bloomberg’s James Seyffart reported that the two met this week as the January 10th deadline for a decision approaches.
Grayscale is one of more than a dozen potential issuers seeking to head the first-spot Bitcoin ETF in the United States. Moreover, the SEC held several meetings with potential issuers over the last several weeks to discuss necessary amendments to the applications.
Grayscale Meets With SEC As Possible Spot Bitcoin ETF Approval Nears
For the last several months, the digital asset market has anxiously awaited the potential arrival of a spot Bitcoin ETF. Indeed, a host of asset management firms have submitted applications, with more than a dozen fast approaching the January deadline. Subsequently, two primary issuers have been engaged in ongoing talks with the SEC.
Specifically, both the SEC and Grayscale have held yet another meeting regarding the spot Bitcoin ETF. Moreover, that meeting followed yet another BlackRock meeting that took place yesterday. Bloomberg’s Eric Balchunas noted that both firms have been with the agency five and four times, respectively.
Many expect approval to arrive in the early days of January. Galaxy Digital’s Mike Novogratz is certainly among them. Speaking to CNBC, he expected an approval to be issued before the January 10th deadline. Alternatively, many insiders have stated that January 5th–10th is the window for a decision.
Charles Gasparino of Fox Business Network reported that the decision is likely to come after January 8th. Ultimately, many have noted the SEC’s concern over money laundering as a holdup regarding potential approval. Subsequently, discussions of cash-only purchases of shares have been discussed between issuers and the agency.