Bloomberg Analyst: Bitcoin Spot ETF Review Completed! SEC targets 1/11 listing

Bloomberg reported today (6th) that according to four people familiar with the matter, SEC staff have notified several exchanges and issuers applying to list spot ETFs to do so within weeks of local time. Five prior to submitting the final revised version of 19B-4. Form 19b-4 is one of the key documents for application for change of stock exchange rules and is crucial for the official listing of ETFs.

All applicants including BlackRock have submitted the revised version of 19b-4

Bloomberg ETF analyst James Seyffart pointed out on the X platform this morning that all 11 spot ETF issuers, including BlackRock, Ryder, Fidelity, Ark, Valkyrie, Grayscale, Bitwise, Hashdex, Invesco, WisdomTree, Franklin Templeton and VanEck have all submitted revised 19b-4 documents by Friday.

In this regard, Seyffart said: "Although we have not crossed the finish line, we are very close."

SEC members will discuss spot ETFs next week Filing Vote

SEC staff provided no additional feedback on these newly revised 19b-4 filings, two people familiar with the matter said. Another person familiar with the matter said that the SEC committee is expected to vote on all 19b-4 trading rule filings next week. Typically, ETF approval does not require a committee vote and can be delegated directly to SEC staff.

It should be noted that in order for the Bitcoin spot ETF to be officially listed, in addition to the SEC's approval of the 19b-4 document, it also needs to obtain the approval of the final version of the S-1 prospectus document. The approval of both documents is a critical step in ensuring that the ETF is compliant and meets regulatory requirements.

According to a person familiar with the matter, the U.S. Securities and Exchange Commission (SEC) requires issuers to submit a revised S-1 form by 8 a.m. U.S. time on Monday. Typically, Form S-1 is approved after Form 19b-4. However, it is possible that the SEC approves Form 19b-4 and Form S-1 at the same time. If both documents are approved, the spot ETF could potentially begin trading as early as the next business day.

Bloomberg Analyst: SEC wants to allow spot ETFs to be listed on January 11

Bloomberg analyst Eric Balchunas also tweeted earlier that the SEC is seeking to allow all applicants to be listed on January 11 No. 1 Bitcoin spot ETF is ready for listing.

“[Bitcoin spot ETF approval progress] is basically complete. I recently heard from multiple sources that the final S-1 filing will be due at 8am on Monday as the SEC is working on it Let all applicants prepare for the launch on January 11.”

BlackRock spot ETF may have an influx of more than US$2 billion in the first week

According to existing news , the SEC has a high probability of approving the first Bitcoin spot ETF before January 10, but it is unclear whether the SEC will release all of them or select some to allow some issuers to gain a first-mover advantage.

Tim Copeland, editor-in-chief of The Block, tweeted earlier that VanEck’s head of digital asset research, Matthew Sigel, revealed in today’s Twitter Space that one of his sources learned that BlackRock has obtained the $2 billion has been raised from coin holders, which will flow into the BlackRock Spot ETF during its first week on the market. "I can't guarantee that," Sigel said. But if the $2 billion flows in in the first week, it will exceed our estimates. Our original estimate of $2.5 billion in spot ETF trading volume in the first quarter was derived by looking at past inflows into the first gold ETF and adjusting for U.S. money supply. Based on similar analysis, we will have a $40 billion market opportunity within two years.

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