Despite Bitcoin‘s price indifference, significant steps are being taken as the decision on the approval of the Spot Bitcoin ETF is only hours away. These moves by the exchanges are necessary for ETFs to be traded on exchanges after official approval. So, what is happening?
Spot Bitcoin ETF Approval Process
At the time of writing, exchanges have started to issue certificates for ETFs. This step supports the widespread sentiment that the SEC will approve all ETFs in the coming hours. We can say that the final step before the official approval has been passed. In about 5 hours, the SEC will make its official announcement.
James and Eric from Bloomberg wrote the following about the recent filings;
“This is actually a request to list tomorrow. I was expecting this after today’s close. So it’s early but still expected. There are a lot of bad comments that this is an official approval. It’s not an approval. It’s a request for acceleration. If this were an approval order, my tweet would have a lot more capital letters and a much more aggressive tone. Haha”
Eric wrote the following;
“It seems to be the first ‘acceleration request’ (the SEC told issuers to present today, ready to trade on the same day, in this case, Thursday. We were expecting them at 16:00 (UTC), but earlier is not a problem (ARK is always first in this regard), this is the last step of this S-1 event. Buckle up.”
