SEC Accepts Spot Bitcoin ETFs Applications

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The SEC has accepted applications for spot Bitcoin ETFs from BlackRock, VanEck, Invesco, Fidelity Investments and WisdomTree, however this does not necessarily mean that the applications will be approved or denied.

This follows the submission of documents from Bitwise previously. On June 15, BlackRock filed an application for a spot Bitcoin ETF with the SEC to which similar requests from Valkyrie, Fidelity Investments, WisdomTree and Invesco followed.

ARK Invest and 21Shares have priority based on when their documents were submitted.

Sources later revealed to the WSJ that the Commission had returned the applications as they did not contain sufficient information regarding the proposed joint monitoring agreement.

All of the aforementioned companies submitted updated proposals to the department shortly after.

Bernstein analysts believe that the regulator will not be able to maintain its negative stance on spot ETFs based on Bitcoin for much longer.

Circle CEO Jeremy Allaire has predicted that the recent submissions of these ETF files will culminate in an approval by the SEC.

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