{"id":88179,"date":"2023-12-13T10:17:13","date_gmt":"2023-12-13T08:17:13","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=88179"},"modified":"2025-09-13T16:23:54","modified_gmt":"2025-09-13T13:23:54","slug":"sec-weighs-spot-bitcoin-etf-launches-with-several-issuers","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/sec-weighs-spot-bitcoin-etf-launches-with-several-issuers\/","title":{"rendered":"SEC weighs spot Bitcoin-ETF launches with several issuers"},"content":{"rendered":"<p>Over the past week, representatives from BlackRock, Grayscale, Franklin Templeton, and Fidelity discussed with officials from the <span data-descr=\\\"U.S. Securities and Exchange Commission\\\" class=\\\"old_tooltip\\\">SEC<\/span> proposals for launching a spot Bitcoin-<a href=\"https:\/\/u1f987.com\/en\/news\/what-is-a-cryptocurrency-etf\">ETF<\/a>. This was noted by Bloomberg analyst James Seyffart.<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">Nothing groundbreaking to report but 4 different issuers have met with the SEC regarding their <a href=\\\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\\\">#Bitcoin<\/a> ETF filings in last few days. <a href=\\\"https:\/\/twitter.com\/BlackRock?ref_src=twsrc%5Etfw\\\">@BlackRock<\/a> met with them yesterday for the third time in as many weeks. While <a href=\\\"https:\/\/twitter.com\/Grayscale?ref_src=twsrc%5Etfw\\\">@Grayscale<\/a>, Franklin, and <a href=\\\"https:\/\/twitter.com\/Fidelity?ref_src=twsrc%5Etfw\\\">@Fidelity<\/a> each had meetings last week <a href=\\\"https:\/\/t.co\/5gwBk83m0o\\\">pic.twitter.com\/5gwBk83m0o<\/a><\/p>\n<p>\u2014 James Seyffart (@JSeyff) <a href=\\\"https:\/\/twitter.com\/JSeyff\/status\/1734679896746758219?ref_src=twsrc%5Etfw\\\">December 12, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>Attendees included staff from the Division of Trading and Markets, as well as the regulator&#8217;s Division of Corporation Finance.<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p><em>\u201cThese are two divisions that will ultimately decide whether 19b-4 and the S-1 will be approved or rejected, and when that will happen,\u201d<\/em> Seyffart explained.<\/p>\n<\/blockquote>\n<p>His optimism was shared by colleague Eric Balchunas.<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">Damn, the SEC is busier than Santa&#8217;s elves. BlackRock&#8217;s third meeting with them yesterday is the most notable IMO as everyone is waiting to see if they can convince SEC to allow in-kind creations in the first run of approvals. <a href=\\\"https:\/\/t.co\/r2jqgpg87m\\\">https:\/\/t.co\/r2jqgpg87m<\/a><\/p>\n<p>\u2014 Eric Balchunas (@EricBalchunas) <a href=\\\"https:\/\/twitter.com\/EricBalchunas\/status\/1734688272293789759?ref_src=twsrc%5Etfw\\\">December 12, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p><em>\u201c\u0427\u0435\u0440\u0442 \u0432\u043e\u0437\u044c\u043c\u0438, SEC \u0437\u0430\u043d\u044f\u0442\u0430 \u0431\u043e\u043b\u044c\u0448\u0435, \u0447\u0435\u043c \u044d\u043b\u044c\u0444\u044b \u0421\u0430\u043d\u0442\u044b. \u0422\u0440\u0435\u0442\u044c\u044f \u0432\u0441\u0442\u0440\u0435\u0447\u0430 BlackRock \u0441 \u043d\u0438\u043c\u0438 \u0432\u0447\u0435\u0440\u0430 \u2014 \u0441\u0430\u043c\u0430\u044f \u0437\u0430\u043c\u0435\u0442\u043d\u0430\u044f, \u043f\u043e\u0441\u043a\u043e\u043b\u044c\u043a\u0443 \u0432\u0441\u0435 \u0436\u0434\u0443\u0442, \u0441\u043c\u043e\u0433\u0443\u0442 \u043b\u0438 \u043e\u043d\u0438 \u0443\u0431\u0435\u0434\u0438\u0442\u044c \u041a\u043e\u043c\u0438\u0441\u0441\u0438\u044e \u0440\u0430\u0437\u0440\u0435\u0448\u0438\u0442\u044c \u0438\u043d\u0441\u0442\u0440\u0443\u043c\u0435\u043d\u0442 \u043f\u0440\u0438 \u043f\u0435\u0440\u0432\u043e\u043c \u043f\u043e\u0442\u043e\u043a\u0435 \u043e\u0434\u043e\u0431\u0440\u0435\u043d\u0438\u0439,\u201d<\/em> \u2014 \u043f\u043e\u0434\u0447\u0435\u0440\u043a\u043d\u0443\u043b \u043e\u043d.<\/p>\n<\/blockquote>\n<p>First such meetings <a href=\"https:\/\/u1f987.com\/en\/news\/blackrock-and-sec-discuss-redemption-mechanics-for-a-bitcoin-etf\"> took place<\/a> in November. According to Reuters, this signals a move toward <a href=\"https:\/\/u1f987.com\/en\/news\/reuters-reports-active-sec-talks-with-bitcoin-etf-issuers\"> the final stage<\/a> before the product&#8217;s registration. <a href=\"https:\/\/u1f987.com\/en\/news\/sec-opens-comment-period-on-spot-bitcoin-etf\"> A similar view<\/a> is shared by Seyffart.<\/p>\n<p>Lawyer Scott Johnson predicted that the regulator would grant all applications for the instrument in one go by January 10, 2024.<\/p>\n<p>Seyffart urged not to hinge expectations on inflows of $100 billion into the spot Bitcoin-ETF. He noted that the current <span data-descr=\\\"assets under management\\\" class=\\\"old_tooltip\\\">AUM<\/span> of gold ETFs stands at $95 billion, and the rise to that level has been under way since 2004.<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">This is likely an overestimation of demand in my opinion. Gold ETFs have been around since 2004 in the U.S. &#038; currently have ~$95 billion in assets here. Spot <a href=\\\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\\\">#Bitcoin<\/a> ETFs getting that much in inflows would be an EXTREME outlier success case even if measured over multiple years <a href=\\\"https:\/\/t.co\/K2opcc2E9S\\\">https:\/\/t.co\/K2opcc2E9S<\/a><\/p>\n<p>\u2014 James Seyffart (@JSeyff) <a href=\\\"https:\/\/twitter.com\/JSeyff\/status\/1734689134516813839?ref_src=twsrc%5Etfw\\\">December 12, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p><em>\u201cProducts receiving such a substantial inflow of funds would be an extremely rare success story, even when measured over several years,\u201d<\/em> he explained.<\/p>\n<\/blockquote>\n<p>Hashdex analysts <a href=\"https:\/\/u1f987.com\/en\/news\/hashdex-spot-bitcoin-etfs-to-begin-trading-in-q2-2024\"> forecasted<\/a> the start of trading for spot Bitcoin-ETF in the second quarter of 2024.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Over the past week, representatives from BlackRock, Grayscale, Franklin Templeton, and Fidelity discussed with SEC officials proposals for launching a spot Bitcoin-ETF. This was noted by Bloomberg analyst James Seyffart.<\/p>\n","protected":false},"author":1,"featured_media":88180,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,865,569,128],"class_list":["post-88179","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-blackrock","tag-etf","tag-sec"],"aioseo_notices":[],"amp_enabled":true,"views":"17","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/88179","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=88179"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/88179\/revisions"}],"predecessor-version":[{"id":88181,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/88179\/revisions\/88181"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/88180"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=88179"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=88179"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=88179"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}