Nasdaq is scheduled to meet with the SEC today to discuss spot Bitcoin ETFs: Source

Nasdaq team members plan to meet with the Securities and Exchange Commission on Wednesday to discuss a long-awaited physical Bitcoin exchange-traded fund.

NASDAQ is contaminated 19b-4 Format for BlackRock’s iShares Bitcoin BTC

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“The trust will meet agency staff over the summer,” a person familiar with the matter said. This is fairly standard when applying for a new product.

The meeting does not indicate any changes on whether a spot Bitcoin ETF will receive SEC approval, they said. The official also could not comment on when a spot Bitcoin ETF would receive SEC approval or disapproval.

Eleanor Terrett, Fox Business reported On Wednesday morning, Nasdaq, Cboe and the New York Stock Exchange met with the SEC to “finalize their comments” on the 19b-4 filing. Nasdaq, Cboe and NYSE did not respond to requests for comment.

Eric Balchunas, senior ETF analyst at Bloomberg Intelligence, echoed Terrett’s report on X. He said the agency probably wouldn’t hold this type of meeting if it planned to reject or delay the proposal.

Recent Spot Bitcoin ​​ETF Submission

ETF issuers including BlackRock and Fidelity filed updated forms with the SEC in late December, which was seen as a final push for spot Bitcoin ETFs. BlackRock designated Jane Street Capital and JP Morgan Securities LLC as authorized participants.

Expectations have grown for America’s first spot Bitcoin ETF once the SEC decides to approve or disapprove the product by January 10. The January deadline is when the agency must make a decision on one of the applications, the ARK 21Shares Bitcoin ETF, which could mean the SEC may decide to rule on the other applications.

difficult problem Over the past few weeks, decisions have been made as to whether ETFs will have a cash-based or in-kind creation and redemption model. Papers presented at the recent meeting appeared to support the so-called cash repayment model. analyst He said the SEC appears to have the advantage.

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