✅SEC sets deadline to update applications to open Bitcoin ETF Spot <span>

-Officials of the United States Securities Commission (SEC) met with representatives of at least seven companies that have applied to open a Bitcoin ETF Spot. Among them, the SEC has asked at least two of those companies to submit final changes by December 29.

-Among the participants in the meeting with the SEC were BlackRock, Grayscale Investments, as well as ARK Investments and 21 Shares. In particular, directors of two of those companies said the SEC had set December 29 as the deadline for closing the final update of the filings.

-The SEC informed meeting attendees that any company that fails to meet that deadline will not be approved in early January. Most companies now expect that the SEC may approve a series of applications within that period.

-In recent years, the SEC has rejected multiple Bitcoin ETF Spot applications arguing that the cryptocurrency market is susceptible to manipulation. The crypto ETFs that the SEC has approved only involve Bitcoin and Ethereum futures contracts.

-However, in recent months, there have been signs that regulators are ready to approve at least one of the 13 Bitcoin ETF Spot applications. Some people believe that the reason is because the SEC lost its lawsuit against Grayscale last month

-Several companies have also been proactive in updating their ETF offerings to meet SEC requirements. Both BlackRock and ARK updated their filings earlier this week to allow cash withdrawals, a change required by the SEC