SEC’s first window to approve all 12 spot Bitcoin ETFs to begin today
Nov 08. 2023
By Tom Mitchelhill
The United States Securities and Exchange Commission could approve all 12 of the pending spot Bitcoin (BTC $36,662) exchange traded fund (ETF) applications within the next eight days.
Bloomberg ETF analysts James Seyffart and Eric Balchunas wrote that starting from Nov. 9 in the United States, the SEC has a “window” to approve all 12 spot Bitcoin ETF filings — including Grayscale’s conversion of its GBTC trust product — in the days leading up to Nov. 17, but stressed this was only a possibility.
“Delay orders were issued by the SEC for BlackRock, Bitwise, VanEck, WisdomTree, Invesco, Fidelity & Valkyrie at the same time,” Seyffart wrote in a Nov. 8 post on X (formerly Twitter).
“If the agency wants to allow all 12 filers to launch — as we believe — this is the first available window since Grayscale's court victory was affirmed.”
The reason for this brief window is that when the SEC extended the deadline for a number of the pending spot Bitcoin ETF filings, it selected Nov. 8 as the last day of the comment period.
From Nov. 17, the comment period for 3 filings, including Global X Bitcoin Trust, Hashdex Bitcoin ETF and Franklin Bitcoin ETF would recommence, meaning that they wouldn’t be approved or denied until after Nov. 23 at the earliest.
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