BREAKING: A Significant Hurdle Has Been Overcome on the Way to Bitcoin Spot ETF, According to Bloomberg

According to Bloomberg, companies applying for Bitcoin Spot ETFs have overcome a major hurdle in receiving approval from the US Securities and Exchange Commission (SEC).

The SEC is expected to vote on exchange rule applications next week.

The SEC’s decision could potentially open the doors for a new wave of investment in Bitcoin.

ETFs, which allow investors to invest in a fund that tracks the price of Bitcoin rather than the cryptocurrency itself, are seen as an important step towards mainstream adoption of cryptocurrencies.

While the SEC has previously rejected several applications for Bitcoin ETFs, citing concerns about potential price manipulation and lack of liquidity, removing this key hurdle would mark a change in regulatory attitude.

In the news we recently shared as Bitcoinsistemi.com, we reported that BlackRock kept $2 billion aside to support its own spot ETF.

U.S. Securities and Exchange Commission (SEC) staff told several exchanges and issuers seeking to list ETFs that they must submit the final version of an important document by Friday, according to four sources familiar with the matter who asked not to be named because the discussions are private.

SEC staff did not provide additional feedback on many firms’ filings after the latest changes, two of these sources said.

ETF approvals can generally be delegated to SEC staff without requiring a vote from commissioners. It is unclear whether SEC staff has additional feedback for all firms’ 19b-4 filings.

The SEC also needs to approve the final versions of applicants’ S-1 filings, the prospectus documents for their ETFs. SEC approval of forms 19b-4 and S-1 may or may not occur simultaneously, but typically S-1s are approved after 19b-4s.

*This is not investment advice.