Even if the Bitcoin price doesn’t matter, an important step has been taken towards the approval of the Spot Bitcoin ETF, and there are only hours left to decide. These moves made by the stock exchanges are what is required for ETFs to be traded on the stock exchanges after official approval. So what’s going on?
Spot Bitcoin ETF Approval Process
As of the moment this article was written, exchanges started to issue certificates for ETFs. This is a move that confirms the general belief that the SEC will approve all ETFs in the future. It can be said that this is the last step before official approval. The SEC is expected to make an official statement in about five hours.
Bloomberg’s James and Eric wrote about the recent filings:
“This is actually a request to list tomorrow. I was expecting this after the close today. So this is early but still expected. There are a lot of bad comments about this being official confirmation. This is not an endorsement. This is an acceleration request. If this were a consent order, my tweet would have a lot more capital letters and a lot more aggressive language. Haha”
Eric wrote:
“Apparently the first “acceleration request” (which the SEC tells issuers to submit today, they are ready to trade on the same day as everyone else, in this case Thursday. We were expecting them at 16:00 UTC, but it’s okay for it to be earlier (ARK this “This is the final step of the S-1 event. Fasten your seatbelts.”
