It has been just revealed the fact that the SEC has just met with the spot BTC ETF applicants in order to made sure that everyone is doing cash creates, according to the latest reports coming from Fox Business.
SEC meets with spot BTC ETF applicants
Today, the Securities and Exchange Commission (SEC) met with applicants seeking approval for spot Bitcoin Exchange-Traded Funds (ETFs).
This meeting is significant as it is part of the ongoing discussions and evaluations regarding the approval of such ETFs.
According to sources who attended the meeting, the SEC was ensuring that all issuers were complying with cash creates, and asking them to remove all hints of in-kind redemptions from their filings.
JUST IN: 🇺🇸 SEC met with spot #Bitcoin ETF applicants today to make "sure everyone is doing cash creates." — FOX Business
Lining up everyone for approval? 👀 pic.twitter.com/aj9r53oGpG
— Bitcoin Magazine (@BitcoinMagazine) December 21, 2023
Terrett’s post hinted at the collaborative nature of the meeting. It suggests that all stakeholders came together to discuss the nuances, prerequisites, and potential implications associated with their spot Bitcoin ETF applications.
Although details are undisclosed, the meeting likely aimed to address concerns, clarify regulatory expectations, and streamline the evaluation process for these ETF applications.
The SEC’s engagement with applicants shows a commitment to comprehensively assess the viability and regulatory compliance of the proposed spot Bitcoin ETFs.
The outcome of this meeting could significantly influence the trajectory of spot Bitcoin ETF approvals, potentially paving the way for a more structured framework for institutional participation in this burgeoning industry.
As investors eagerly await further updates, this meeting marks a significant step towards the possible approval of the first-ever Bitcoin ETFs in the United States.
According to a recent report by FOX Business, BlackRock has made obtaining approval for their Bitcoin ETFs a “key corporate priority,” with the SEC expected to make a decision by January 10.
The excitement is rising in the crypto space as we speak because 2024 will definitely be a mind-blowing year. Don’t forget we will also see the halving for BTC as well.
