Analysts at Bloomberg have highlighted that the SEC has two main technical events to consider before launching spot Bitcoin ETF trading. Firstly, it needs to approve applications from exchanges that will list these ETFs. Secondly, it must also give the green light to potential issuers, including major players like BlackRock and Fidelity, who have applied for investment asset registration. Sources close to the matter suggest that the SEC plans to complete these approval procedures in the coming days.
“Recent discussions between the SEC administration and firms seeking regulatory approval have significantly reduced the probability of Bitcoin ETF applications being rejected, bringing it down to just 5%. If the SEC grants all the necessary permissions, interested companies could start trading Bitcoin ETFs on the very next business day,” commented Bloomberg.
Based on various forecasts, the SEC is expected to reach a final decision on at least one of the applications received for launching spot Bitcoin ETFs between January 8 and January 10. Insiders in the crypto industry believe that the regulator may even approve all the applications simultaneously.