The post 12 Bitcoin ETFs Have ‘Brief Window’ for SEC Approval Starting Tomorrow appeared on BitcoinEthereumNews.com.

Starting tomorrow, there’ll be a small window during which the Securities and Exchange Commission could approve 12 pending Bitcoin ETF applications. That approval could include the BlackRock iShares Spot Bitcoin ETF and the conversion of the Grayscale Bitcoin Trust, according to Bloomberg analysts James Seyffart and Eric Balchunas. Their rationale: When the SEC gave itself a deadline extension for pending ETF applications, it chose Wednesday, Nov. 8 as the last day for rebuttal comments. It’s also possible that the SEC could approve several between now and Nov. 17, but require all the funds to begin trading on the same day. “Delay orders were issued by the SEC for BlackRock, Bitwise, VanEck, WisdomTree, Invesco, Fidelity & Valkyrie at the same time,” Seyffart wrote on Twitter. “If the agency wants to allow all 12 filers to launch—as we believe—this is the first available window since Grayscale’s court victory was affirmed.” Delay orders were issued by the SEC for BlackRock, Bitwise, VanEck, WisdomTree, Invesco, Fidelity & Valkyrie at the same time. If the agency wants to allow all 12 filers to launch — as we believe — this is the first available window since Grayscale’s court victory was affirmed pic.twitter.com/v5GkbP5IUj — James Seyffart (@JSeyff) November 8, 2023 A Bitcoin exchange-traded fund, or ETF, would allow investors to gain exposure to the world’s largest cryptocurrency without having to hold the asset themselves. Instead, they could buy shares that would be backed by Bitcoin that’s been bought by the issuer. Seyffart pointed out another caveat: Even if the SEC approves a rule change that would allow an ETF to trade, that’s totally separate from approving a fund’s registration statement. Both filings would need to be approved before any of the pending Bitcoin ETFs could begin trading. What Scott said: There are TWO paths that need…

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Filed under: News - @ November 9, 2023 8:56 am