Several investment firms that filed applications in the US for a spot crypto ETF have filed amendment forms according to SEC requirements.
Global investment firms, including BlackRock, VanEck, and Fidelity, have submitted new forms for the spot crypto ETF to the SEC, the US regulator. The amendment forms are likely in tune with the SEC’s new requirements. The firms submitted the forms on December 29, the last date for the changes. Meanwhile, a report from a leading daily has claimed the regulator’s approvals may be announced as early as January’s first week.
“The SEC may notify issuers as soon as Tuesday or Wednesday that they have been cleared to launch the following week, said those sources, who spoke on background given the confidential nature of the discussions,” said the report. Meanwhile, the applicants who filed the amendments by the deadline could launch a spot Bitcoin ETF by January 10.
The investment firms have named various financial services firms as participants in their spot Bitcoin application firms. For instance, BlackRock has named JP Morgan Securities and Jane Street. BlackRock and other firms had also been under discussions with the SEC in December 2023.
The spot Bitcoin ETF filings could have been a major driver of the crypto market in the latter part of 2023. They could continue to dominate market sentiments in 2024 as well. Experts have termed various benefits from the ETFs, including increasing market liquidity from higher inflows. The ETFs may also boost crypto adoption by helping more investors gain exposure to the market.
Analysts from prominent institutions have also been public proponents of the ETFs. They expect early approvals in 2024, leading to better market prospects. However, the SEC hasn’t made any public comments on the approvals yet.
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