From Nasdaq Inc.:

The U.S. Securities and Exchange Commission has notified exchanges and issuers that want to list spot Bitcoin (BTC) ETFs to submit a final version of a key document by Friday. The 19b-4 filings, a proposal for rule changes on stock exchanges, will be voted on by SEC commissioners next week.

Approval of the 19b-4 and S-1 forms may not happen simultaneously and there may be a gap of some days. Once the S-1 is approved, trading can commence on the next business day. Multiple issuers, including BlackRock, Fidelity, Grayscale, VanEck, Valkyrie, and 21Ark have made various filings with the SEC in anticipation of the ETF approval.

Analyst Eric Balchunas indicated that all 19b-4 filings will not be passed until Jan. 10, while S-1s approval would stretch to Jan. 16 or later, after which the ETFs would be allowed to trade. He also mentioned that multiple sources have indicated that the final S-1s are due 8am on Monday as the SEC is trying to line everyone up for a January 11th launch.

The SEC’s review of ETF proposals is a sign that the floodgates could be about to open for Bitcoin as an investment. If approved, trillions of dollars will be able to flow into Bitcoin.

Investors and advisors are eagerly awaiting the approval of Bitcoin ETFs, with 88% of advisors indicating that they are waiting for such approval to buy Bitcoin. This news comes as various issuers are making filings with the SEC in anticipation of the ETF approval.



Read more: Spot Bitcoin ETF Issuers Given Clearance To Submit Final Documents