The final phase of a multi-year endeavour to introduce Bitcoin-backed exchange-traded funds (ETFs) in the United States is set to climax this week, faced with a series of crucial deadlines. Bloomberg News reports that all aspiring Bitcoin ETF issuers have until today, January 8, in Washington to present any late amendments to their pending applications.
Moreover, the US Securities and Exchange Commission (SEC) has to act on at least one of these applications by January 10, an occasion that industry insiders suspect might be used by the regulator to announce a set of decisions simultaneously.
A Bitcoin ETF can only commence trading after fulfilling two technical prerequisites. Initially, the SEC needs to give the green light to the 19b-4 filings by the exchanges wishing to list the ETFs. Secondly, the regulator has to approve the corresponding S-1 forms, which are the registration…
