Within three days of filing the 19b-4 for the choices buying and selling of the spot Bitcoin ETFs, the U.S. Securities and Exchange Commission (SEC) has acknowledged the request.
Options for spot Bitcoin ETFs Coming Next Month?
Bloomberg’s senior ETF strategist, James Seyffart, reveals that the U.S. Securities and Exchange Commission (SEC) has acknowledged the 19b-4s requesting permission to commerce choices on spot Bitcoin exchange-traded funds (ETFs). This course of is notably sooner than the SEC’s typical tempo.
Seyffart speculates that choices buying and selling might obtain approval as early as the top of February if the SEC opts for an expedited evaluation. However, he notes that absolutely the earliest timeframe for a call is roughly 27 days away. On the opposite hand, absolutely the newest determination could possibly be anticipated round September 21, 2024.
Responding to inquiries in regards to the accelerated timeline, Seyffart emphasizes that this course of is notably faster than different 19b-4 submissions. Drawing from his expertise, he highlights situations the place it took as little as 14 days for related requests. Notably, the 19b-4 submissions in query had been posted on January 16, making the present analysis interval solely three days outdated.
Day 5 of the BTC ETFs Going Live
In a current replace, Bloomberg’s ETF strategist, Eric Balchunas, displays on the fifth day of buying and selling, which has seemingly felt extra extended than its precise length. The whole rolling web flows for the week stand at +$1.2 billion, experiencing a slight downturn following $GBTC’s substantial -$582 million, surpassing the Nine’s +$447 million.
LATEST: Day Five (however its felt like months hasn’t it?) is in books TOTAL ROLLING NET FLOWS at +$1.2b, down a bit after $GBTC‘s whopper -$582m edged out the Nine’s +$447m. $GBTC massacre as much as -$2.2b vs the Nine’s +$3.3b w/ $6.6b in quantity. $FBTC joins $IBIT within the Billy Club. pic.twitter.com/q6pFIrPTFV
— Eric Balchunas (@EricBalchunas) January 19, 2024
The $GBTC’s decline has contributed to a major massacre, now totaling -$2.2 billion, in comparison with the Nine’s robust +$3.3 billion, accompanied by a notable $6.6 billion in quantity. Balchunas notes the inclusion of $FBTC, which has joined $IBIT within the Billy Club, signifying noteworthy developments available in the market panorama.
Balchunas added: “After 5 days of existence the Newborn Nine have about 40% of the bitcoin holdings of MicroStrategy “. Here’s a glance into the full inflows of the spot Bitcoin ETFs inside the preliminary 5 days of buying and selling.
NEW: 🇺🇸 Top 5 spot #Bitcoin whole inflows as of yesterday: 🚀
BlackRock: $1.23 billion
Fidelity: $1.06 billion
Bitwise: $393 million
ARK 21Shares: $319 million
Invesco Galaxy: $194 million pic.twitter.com/hVDwOM4YQS— Bitcoin Magazine (@BitcoinMagazine) January 19, 2024
After some promoting strain on Thursday, January 18, the BTC value has bounced again above $42,000 ranges as of press time.
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