The SEC reportedly has no more feedback for pending Spot Bitcoin ETF applicants, and is requesting for all final paperwork to be submitted this week. This coincides with earlier reports that the commission could vote on approving or denying Bitcoin ETF applications next week.
Securities and Exchange Commission staff told several exchanges and issuers seeking to list the ETFs that they should submit a final version of a key document as soon as Friday, according to four people familiar with the matter. According to a Bloomberg report, the sources say that staff had no additional feedback on the paperwork for several of the firms after the latest amendments.
Potential Bitcoin ETF issuers including Grayscale and Fidelity have all submitted their 19b-4 documents in the past week. In the latest update, the SEC appears to not need much else to begin their vote. Pressure has been on the commission to vote and approve Spot Bitcoin ETFs, with multiple court orders and influences pushing for approval.
Also Read: SEC Will Reportedly Approve Multiple Spot Bitcoin ETFs
For the past several months, the digital asset market has been speculating over the potential arrival of the US’ first Spot Bitcoin ETF. With more than a dozen applicants, the prospective investment offering is approaching a deadline. It’s likely that almost all applications will see approval. However, speculation still stands on how many will be approved at once.
Bloomberg also reports that ETF approvals may delegate to SEC staff without a vote by commissioners. It’s unclear if SEC staff had no additional feedback for all of the firms’ 19b-4 filings. Regardless, this is a major step towards the final SEC decision and potential approval coming for Spot Bitcoin ETFs.