Bitcoin ETF Talks with SEC: Progress, Fate, and Potential Classification Addressed

Talks between the US Securities and Exchange Commission (SEC) and industry executives, including BlackRock and ARK Invest, regarding the launch of Bitcoin spot exchange-traded funds (ETFs) are reportedly in the final stages. The SEC has 13 applications awaiting approval in 2024, with discussions focusing on technical details such as custody arrangements and investor disclosures. If approved, these ETFs could potentially boost Bitcoin's value. The first application, by ARK Invest in partnership with 21Shares, is expected to be approved on January 11, 2024, with the possibility of multiple approvals thereafter. However, the SEC has not committed to approving any of the crypto funds yet.