Companies seeking approval for spot Bitcoin ETFs, including BlackRock, continue to negotiate with the U.S. Securities and Exchange Commission (SEC).
The financial giant seeking approval for the first U.S. spot Bitcoin ETF continues to deliberate with the Securities and Exchange Commission (SEC), a possible sign of optimism as the agency plans for a potential decision before its next deadline. January 10, 2024.
BlackRock, Fidelity, Franklin Templeton, Grayscale meet with SEC
As many as four aspiring companies have reportedly met with SEC officials regarding the approval of their respective spot Bitcoin ETF applications, all in just a few days. It remains to be seen whether commission officials will invite other ETF participants in the coming days, before the January 10 deadline. Previously, CoinGape reported that the U.S. SEC had a narrow window of opportunity between January 6 and 10 during which a decision in favor of approval could be made.
A memo from the agency states that while BlackRock representatives have held two talks in the past few weeks, the third such meeting took place on Tuesday, December 12, 2024, noting that the discussion of the proposed rule change justifies the listing of the iShares Bitcoin Trust. Interestingly, the agency held a meeting with Grayscale on December 8, 2023, regarding allowing Grayscale Bitcoin Trust (GBTC) to trade, after the U.S. Court of Appeals for the D.C. Circuit directed the commission to review its decision approving a spot Bitcoin ETF.
Multiple spot Bitcoin ETFs approved
Analysts have been predicting that the SEC may approve multiple spot ETF applications at the same time to avoid handing over the first-mover advantage to a single applicant. However, an approval before January 10 could also mean that the SEC gives a timeline for allowing companies to list and trade spot ETFs. If the SEC shows any signs of support for approval before the deadline, the Bitcoin price (BTC) could climb further.
