The USA Securities and Alternate Fee (SEC) might approve all 12 pending spot exchange-traded fund (ETF) purposes by Nov. 17. Starting on Nov. 9, the SEC reportedly has a “window” to approve all 12 spot Bitcoin ETF filings, together with Grayscale Investments conversion of its Grayscale Bitcoin Belief product.
Nevertheless, even when the SEC approves spot Bitcoin (BTC) ETFs by Nov. 17, it might be greater than a month earlier than the merchandise launch. The anticipated delay in launch following SEC approval could be as a result of two-step technique of launching an ETF. For an issuer to begin a Bitcoin ETF, it should get approval from the SEC’s Buying and selling and Markets division on its 19b-4 submitting and its Company Finance division on the S-1 submitting or prospectus. Of the 12 Bitcoin ETF purposes, 9 issuers have submitted revised prospectuses exhibiting they’ve communicated with the Company Finance division.
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