The post SEC Sets Final Deadline for Spot Bitcoin ETFs for Changes appeared on BitcoinEthereumNews.com.

In a current meeting with BlackRock, Greyscale, and other economic institutions, the Securities and Exchange Commission (SEC) set a firm December 10 deadline. Special Session Details Participants: SEC officials spoke with representatives of the foremost economic establishments, together with BlackRock, Grayscale Investments, ARK Investments, and 21 Shares. Attendees included representatives from NASDAQ, CBOE, and probably other buying and selling platforms, as well as legal representatives from issuers. Deadline Impact: Companies aiming to launch spot bitcoin ETFs ought to post the very last amendments by way of December 29. Timetable for approval: SEC officials announced plans in early January to begin approving ETF applications. That leads to a dramatic shift in the regulatory position, indicating a more dynamic approach to cryptocurrency-related financial transactions. First wave of approval SEC officials clarified that companies that missed the December 29 deadline will not be the first wave of approvals expected in January 2024. It means the SEC has promised to streamline the approval process for spot bitcoin ETFs. Companies will need to address a broad range of issues related to the final submissions, including the technical details, payment terms, and initial investment structure of the proposed ETFs. Among the focus companies, ARK and 21 Shares have clearly disclosed the projected fees for the enterprise ETF, which are set at 0.80%. The companies are closely watching the SEC’s decision on the offering of their integrated ETF, which is expected to be due by January 10, 2024. Changes in the legal environment The December 29, 2023, closing date marks a great exchange within the SEC’s approach to the cryptocurrency market. The traditionally careful SEC has denied many applications for spot bitcoin ETFs in the past, bringing up marketplace volatility and investor protection issues. Recent developments, including a federal court ruling against the SEC rejecting Greyscale’s ETF…

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Filed under: News - @ December 25, 2023 10:02 pm