SEC holds important meeting with spot Bitcoin ETF applicants to ensure reconciliation

According to FOX Business’ Eleanor Terrett and Charles Gasparino, the U.S. Securities and Exchange Commission (SEC) convened today with applicants seeking approval for a Bitcoin spot exchange-traded fund (ETF), making an important development.

Terrett said a source present at the meeting said the SEC was “making sure everyone is generating cash” and had “asked issuers to remove any hint of in-kind redemptions from their filings.” This meeting is of utmost importance amid ongoing discussions and evaluations regarding the approval of the ETF.

Terrett’s post hinted at the collaborative nature of the meeting, suggesting an effort to get all stakeholders on the same page regarding the nuances, prerequisites, and potential implications associated with applying for a spot Bitcoin ETF. Although full details have not been released yet, the meeting is likely to have focused on addressing concerns, clarifying regulatory expectations, and streamlining the evaluation process for these ETF applications.

The SEC’s cooperation with the applicant reflects its commitment to comprehensively evaluate the viability and regulatory compliance of the proposed spot Bitcoin ETF. The outcome of this meeting could have a major impact on the trajectory of spot Bitcoin ETF approval, potentially paving the way for a more structured framework for institutional participation in this burgeoning industry.

As market participants await further developments, this meeting marks a significant milestone in the approval of the first spot Bitcoin ETF in the United States. Yesterday, FOX Business reported that BlackRock has made approval for a spot Bitcoin ETF a “key priority for the firm” and that the ETF will receive a decision from the SEC by January 10th.