The SEC Begins Decision Process on Bitcoin ETF Applications
SEC kickstarts review of six Bitcoin ETFs, including an application from investment giant BlackRock.
This week, the U.S. Securities and Exchange Commission (SEC) starts deciding on six applications for Bitcoin exchange-traded funds (ETFs). This includes an application from BlackRock, a well-known investment company.
One application from Bitwise's Bitcoin ETP Trust was officially published on Tuesday. The other applications from BlackRock's iShares Bitcoin Trust, Fidelity's Wise Origin Bitcoin Trust, WisdomTree Bitcoin Trust, VanEck Bitcoin Strategy ETF, and Invesco Galaxy Bitcoin ETF will be published on Wednesday.
The official countdown for the SEC's review starts when the applications are published. The SEC has 45 days to make a decision, but this can be extended up to 240 days.
The SEC has asked for public opinion on Bitcoin ETFs. However, there is no guarantee that they will approve any of the applications. Still, the application from BlackRock has led some people to think that the chances of approval are higher.
Another Bitcoin ETF application, the ARK 21Shares Bitcoin ETF, had its approval deadline extended in June. The Valkyrie’s spot-bitcoin ETF application has been accepted by the SEC but has not yet been officially published.
