From Quiver Quantitative:



The U.S. Securities and Exchange Commission (SEC) has set a year-end deadline for final changes to applications for proposed exchange-traded funds (ETFs) tied to spot bitcoin, potentially giving a green light for these ETFs early in 2024. The deadline for submitting final updates is December 29, ensuring inclusion in the initial approval wave of spot bitcoin ETFs, expected in early January.

The SEC’s new stance signals a significant shift and could trigger a wave of Bitcoin ETF debuts, reshaping the cryptocurrency landscape. The meeting also involved representatives from Nasdaq and Cboe, where the new ETF products might be listed.

The SEC’s openness to approving spot bitcoin ETFs marks a turning point for the cryptocurrency market, which has long sought mainstream financial products linked directly to bitcoin rather than derivatives like futures contracts. The issuers of these ETFs have been making technical adjustments to their filings, including provisions for cash redemptions, details about fees, and initial seeding capital for the ETFs.



Read more: U.S. SEC’s Deadline for Spot Bitcoin ETF Proposals Looms