CORRECTION (July 18, 2023, 16:56 UTC): Fixes the number of ETF applications whose regulatory review deadlines were set this week.
The clock starts ticking this week for the U.S. Securities and Exchange Commission's (SEC) decision on whether to approve or reject six applications – including BlackRock's – to list a spot bitcoin exchange-traded funds (ETFs).
Bitwise's Bitcoin ETP Trust's application hit the Federal Register on Tuesday, while the following will appear in that compendium on Wednesday:
While the SEC published documents seeking public consultations last week on bitcoin ETFs, the clock on the review process formally starts only when filings are published in the register. Initially, this sets a deadline of 45 days, but that can be extended to as long as 240 days.
The register is the daily gazette of the U.S. government and contains executive orders, federal agency regulations, proposed agency rules and other documents that, by law, have to published.
While there is no guarantee the SEC will approve any of the applications, the filing by industry giant BlackRock has fueled speculation that permission is more likely.
Another bitcoin ETF application, the ARK 21Shares Bitcoin ETF, hit the Federal Register on May 15, and the SEC extended the approval deadline in June.
Valkyrie’s spot-bitcoin ETF is not yet listed on the Federal Register but their application was accepted on Monday by the SEC, a spokesperson from Valkyrie said.
UPDATE (July 18, 2023, 17:07 UTC): Adds the ARK 21Shares application.
UPDATE (July 18, 2023, 17:57 UTC): Adds statement from Valkyrie.
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