#BitcoinETF
#SEC
#SpotBitcoin
#CryptoRegulation
#CryptoInvestment
#Blackrock
#ETFLaunch
#BitcoinExchangeTradedFund
The U.S. Securities and Exchange Commission (SEC) has provided a strict ultimatum to spot bitcoin ETF applicants. It has set December 29 as the deadline for these applicants to finalize any amendments to their submissions. The SEC has explicit instructions to issuers that applications that are completed and filed by this date will be evaluated in the initial wave of its spot Bitcoin ETF decision. This information was shared on social media by Fox Business journalist Eleanor Terrett.
The SEC has further emphasized specific parameters to be included in spot Bitcoin ETF filings. The applications should exclude any mention of the in-kind creation method. The regulator is rather insisting on the adoption of the cash creation method. Major global asset manager, Blackrock, and numerous other spot Bitcoin ETF applicants have pleaded for the use of the in-kind model, but were unsuccessful in persuading the SEC. Consequently, Blackrock integrated the cash creation model into its newest amendment. In terms of outlook, industry experts anticipate approval of multiple spot Bitcoin ETFs in the early days of 2024.
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