The deadline is quickly approaching for Bitcoin exchange-traded fund (ETF) applicants to submit final updates to the United States Securities and Exchange Commission (SEC).
“Any issuer that doesn’t meet that deadline will not be part of a first wave of potential spot bitcoin ETF approvals in early January,” a recent report stated.
SEC Sets Tight Deadline for Changes to Filings
A recent report reveals that the SEC has set a stringent deadline for Bitcoin ETF applicants, lasting until January 29.
This has sparked heightened discussions on social media. In particular, influential figures are speculating on the potential implications of approval for Bitcoin and the broader crypto community.
In a post on X (formerly Twitter), Fred Krueger outlined that the turnaround between potential approval and trading on the market could just be a matter of days.
“On jan 8-10, the ETF should get approval. It should start trading as early as Jan 15.”
Krueger further declared that it will “change everything.” He explains that for the first time, “anybody with a brokerage account will be able to buy Bitcoin.”
Furthermore, he believes approving the Bitcoin ETF will move the conversation from social media to mainstream television.
“the real discussion will move from crypto twitter to CNBC.”
At the time of publication, Bitcoin’s price is $43,195.
Read more: How To Prepare for a Bitcoin ETF: A Step-by-Step Approach
Potential for Other Regulators to Jump on Bitcoin ETF
Meanwhile, crypto trader Lark Davis, with 1.1 million followers on X provided his thoughts. He declared that the approval of the Bitcoin ETF might entice other countries to also adopt the product.
“Hong Kong security regulator has said they are open to consider Bitcoin and crypto etf applications!!! China not going to let Blackrock get all the BTC!”
Thirteen applicants, including major players like Ark Invest, Grayscale, BlackRock, and VanEck, are currently seeking potential approval for a Bitcoin ETF.
Read more: Top 7 Platforms To Earn Bitcoin Sign-Up Bonuses in 2024
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Source: https://beincrypto.com/spot-bitcoin-etf-us-sec/