The SEC Holds a Joint Meeting With Bitcoin ETF Applicants Amid What Appears to Be an Imminent Decision

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According to recent information, it has come to light that the U.S. Securities and Exchange Commission (SEC) is engaging in discussions with various applicants for Bitcoin exchange-traded funds (ETFs). These discussions have sparked various speculations regarding the potential approval of BTC ETFs, as the SEC held an unusual joint call with the presenters of these applications.

During the call, the significance of a cash creation model among ETF applicants was emphasized. Additionally, it was also revealed that the SEC advised applicants to remove any references to in-kind redemptions from their submissions. This strategic approach aims to ensure a clear commitment to a cash-centric model, indicating the SEC’s preference for this method.

The financial and cryptocurrency community is closely monitoring these developments, as speculation suggests that the joint call could indicate an imminent decision by the SEC regarding the applicants’ submissions.

Approval Seems Imminent, January 10th Could be a Historic Date For Bitcoin

Specifically, the date of January 10, 2024, has emerged as a crucial date, with internal reports and FOX Business coverage suggesting that the approval of a Bitcoin ETF is highly anticipated by that time.

In parallel to these events, an interesting detail has emerged concerning the legal review affecting Grayscale. The SEC is compelled to conduct a review, though not necessarily an approval, of Grayscale’s ETF application. This news has generated optimism in the market, hinting at the possibility of a shift in the SEC’s stance.

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Despite these positive signals and widespread expectations of approval, it is crucial to note that, to date, the SEC has not given the green light to any Bitcoin ETFs. Therefore, investors and market enthusiasts are cautious, and caution is advised amid heightened expectations. The SEC retains the authority to reject any application, and while the possibility of approval seems promising, January could bring unexpected outcomes.

As the SEC continues to evaluate the applications, the crypto community and market participants eagerly await any official announcements that could impact the regulatory landscape and the price of Bitcoin, which according to CoinMarketCap, it’s being traded at $43,728 at the moment of writing this article.


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