New SEC comments on applications for Bitcoin ETFs will not delay the decision on January 10.
Just a few hours after potential issuers of Bitcoin ETFs submitted documents detailing the proposed commissions, the US Securities and Exchange Commission (SEC) has published additional comments on Forms S-1. This quick response caused surprise among insiders, who considered such a reaction “unheard of.”
On January 8, potential issuers, including industry giants BlackRock, Bitwise and Fidelita, indicated proposed fees for spot Bitcoin ETFs in amended S-1 filings (in the case of Grauscale S -Z). Incredibly, on the same day, representatives of the Securities and Exchange Commission (SEC) provided feedback that concerned minor details in the amended S-1 forms. In this regard, the comments received are unlikely to affect the overall approval schedule, and the decision will not be postponed on January 10. For example, Bloomberg analyst James Seyffart believes that such a quick response from the SEC should be considered a sign of possible approval of a new product without unnecessary delays:
It is unheard of for a document to be sent to the SEC in the morning, and comments are given the same day (I believe). If they wanted to delay, the issuers would not have received comments this evening.
With the application deadline for the Ark 21Shares spot Bitcoin ETF being January 10, the SEC is facing intense pressure to make a final decision. And most experts are unanimous that it will be positive. It is no coincidence that on January 8, the price of Bitcoin immediately added $3000 and rose above $47,000; now, after a minor correction, BTC is trading at $46,500.
