Several applicants have recently amended their SEC filings.
On January 10, the SEC must decide whether to accept or reject the Ark 21Shares ETF.
It was reported by Reuters based on sources that the SEC may contact the spot Bitcoin ETF applicants next week. It suggests that a decision about their launch approval may be made as soon as Tuesday.
The acceptance of spot Bitcoin ETF is a major step forward for the cryptocurrency industry, and it includes some of the top asset management organizations in the world.
Several applicants have recently amended their SEC filings in an effort to establish spot Bitcoin ETFs. The prospect of a ruling from the SEC being soon was further heightened by these last-minute developments.
Major Decision Underway
Those in the know inside the industry have speculated that companies that fulfill the filing revision deadline may be ready to launch the ETFs the week after that. This is a pivotal moment because on January 10, the SEC must decide whether to accept or reject the Ark 21Shares ETF.
Although there are naysayers, the fact that these companies are prepared to release their products shows a big stride towards crypto. Wall Street might manipulate the “13 Bitcoin cash-in, cash-out ETFs,” according to crypto expert and social media influencer Max Keiser’s post on X.
According to him, Bitcoin’s price would be controlled by personalities like Jamie Dimon until direct investors like Michael Saylor intervened. But the crypto community reacted skeptically to his remarks, and several users wasted no time writing off his knowledge of ETFs.
However, there are those who think that if Bitcoin spot ETFs are approved, it will legitimize and make cryptocurrencies more accessible. Many in the cryptocurrency industry see these large financial institutions and trading companies as regulators with the power to promote innovation and market stability.