SEC could inform spot Bitcoin ETF approval by January 3

Key Points:

• Anticipation hangs heavy as the SEC prepares to rule on a dozen spot Bitcoin ETF approval, potentially opening the door for mainstream adoption via major exchanges like Nasdaq and Cboe BZX.
• Last-minute amendments from giants like BlackRock and Grayscale reveal the intense pressure, while the cash-based model appears to be the immediate path for approval, still driving BTC demand through underlying reserves.
• Surveillance concerns quelled, spot Bitcoin ETF approvals could be imminent, ushering in a game-changing few days for Bitcoin and the entire crypto space.

According to a late December report from Reuters, the U.S. Securities and Exchange Commission (SEC) could reveal its decision relate to spot Bitcoin ETF approval as early as Tuesday, January 2nd, sending hopeful applicants scrambling to launch by January 10th.

Spot Bitcoin ETF Approval: Green Light Coming in Days?

This decision looms large not just for Ark/21Shares, whose application reaches a critical deadline then, but for the entire crypto space. A dozen asset managers stand poised to unleash a wave of spot Bitcoin ETFs across major exchanges like Nasdaq and Cboe BZX, potentially ushering in a new era of mainstream access to the digital gold.

While mum’s the word on which applications will get the nod, the flurry of last-minute amendments on December 29th hints at the pressure cooker environment. Heavyweights like BlackRock, VanEck, and Valkyrie joined the late scramble, alongside familiar faces like Ark Invest and Grayscale, all eager to secure that coveted first-mover advantage.

Cash vs. Bitcoin: Can Spot Bitcoin ETF Approval by Jan. 3 Spark BTC Demand

Engagement between the SEC and asset managers has been constant, with recent discussions focusing on the thorny issue of cash creations and redemptions. Though the in-kind model, allowing direct Bitcoin transactions within the ETF, seems temporarily off the table, the sheer existence of these funds will still drive demand for BTC as they hold underlying reserves.

Surveillance and manipulation concerns, once major roadblocks, appear largely addressed. Now, with all eyes on the SEC’s January pronouncement, the air crackles with anticipation. Could this be the year Bitcoin truly enters the mainstream, carried on the tide of ETFs? Buckle up, crypto crew – the next few days could be game-changing.

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