Bitcoin ETF: The SEC unable to respond today?

Like so many other civil servants, SEC employees observed a few days off during the holiday season. How can we believe that they will decide on the Bitcoin Spot ETFs this Tuesday or tomorrow Wednesday? Fox Business’ Eleanor Terrett urges the crypto community to listen to the voice of reason.

An announcement on ETFs by the end of the week

The eyes of asset managers and the community are currently on the United States Securities and Exchange Commission. Because many believe that this American crypto regulator will a historic announcement this week.

For Reuters, Gary Gensler’s team will bring the long-awaited answer on spot Bitcoin ETFs this Tuesday, January 2 or tomorrow, January 3, 2024. At Fox Business, this forecast seems irrational.

SEC: no rush with Bitcoin Spot ETFs?

Eleanor Terrett, a reporter at Fox Business, said it was unlikely that the approval of a spot Bitcoin ETF comes at the start of the week, given that the SEC still has to review filed S-1 formsand that an announcement could be made by the end of the week. The SEC will likely notify issuers of a final date for filing Form S-1 following this review cycle and make it effective within the next 24 to 48 hours, similar to the approval timeline Ethereum futures last October. »

Based on Eleanor Terrett’s tweet posted very early this morning, Coin Edition confirmed the need for review of recently filed S-1 forms by spot Bitcoin ETF applicants. Note that the latter elected their respective “authorized participants” (or brokers) and added their names to the initial documents last Friday.

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However, with the end of year festivities, the SEC did not have the necessary time to verify these newly filed files.

While the SEC is certainly unpredictable, I would be surprised if the approvals happened tomorrow. From what I understand from conversations with issuers, the SEC still needs to review all changes to the S-1s filed Thursday/Friday AND comment on them “, she clarified.

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