With market predictions that the U.S. Securities and Exchange Commission (SEC) will approve the first Bitcoin spot ETF between January 8 and January 10, spot ETFs seem to be approaching the final step . Increasing signs and news of this development have made investors more optimistic about the prospects of the Bitcoin market.
According to the latest documents submitted to the SEC, some well-known Bitcoin spot ETF issuers, such as Fidelity, Grayscale, Ark, Valkyrie and VanEck, have submitted "8-A" for securities registration. sheet". Bitwise was the first to submit Form 8-A last Friday. These moves indicate that these companies are planning to issue Bitcoin ETFs to meet the market's investment demand for cryptocurrencies. This also means that investors will have more opportunities to participate in the Bitcoin market through ETFs, thereby increasing market liquidity and transparency. The interest from these issuers also reflects Bitcoin’s growing popularity and recognition as an investment asset.
Bitwise first submitted Form 8-A
According to a report by "The Block" , 8-A Securities Registration Form is an application that an ETF needs to submit before listing. Once an ETF receives SEC approval for listing, the issuer can register the product as a security and trade it on the exchange. This development is significant for the spot Bitcoin ETF, meaning it has made key progress and the chances of the SEC approving the spot ETF have increased.
Bloomberg ETF analyst James Seyffart believes that the purpose of Form 8-A is for securities registration and the application needs to be completed before listing. However, this does not mean that the application has been approved.
"In order to be listed, the ETF still requires approval of Form 19b-4 and complete S-1 filings. Currently, Form 19b-4 has not been approved and Form S-1 is still in the preliminary stages. I look forward to it The SEC may approve them next week."
According to our understanding, the official listing of Bitcoin spot ETFs requires two steps to obtain SEC approval. First, the transaction rule change application needs to fill out Form 19b-4 and obtain approval. Secondly, an S-1 registration statement application needs to be submitted and approved. The two applications are independent, and the Bitcoin Spot ETF can only begin trading after both documents are approved by the SEC.
Another Bloomberg ETF analyst Eric Balchunas revealed that the SEC is giving final opinion on Bitcoin spot ETF, and then the issuer will Submit final 19b-4 and S-1 soon.
“So I mean, this is definitely the closest thing we’ve ever been to being ‘done,’ but as far as I know, it hasn’t been officially approved yet. ”
Yesterday, The Block quoted sources as saying that the SEC’s remaining issues regarding Bitcoin spot ETFs have been resolved in communication with applicants, including which model to use for creation/redemption and designated authorized participation. Investors, Bitcoin forks and other issues.
The market is holding its breath to see whether the SEC will meet the deadline of January 10 Through the Bitcoin spot ETF, Fox News reported yesterday that people familiar with the matter revealed that the SEC may approve the ETF as soon as Friday and officially start trading next week. In response to the news, James Seyffart commented: I don’t expect it to happen tomorrow at 5 U.S. time. I received the approval order on January 8th. I am still looking forward to January 8th to 10th.
The above is the detailed content of Sony, Fidelity, Ark and other companies submitted securities registration applications for Bitcoin spot ETFs to the U.S. Securities and Exchange Commission. For more information, please follow other related articles on the PHP Chinese website!
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