Bitcoin spot ETF approval could come as soon as Tuesday, new filings hint

Bitcoin spot ETF approval edges closer to reality as the 11 applicants submitted updated 19b-4 filings on January 5.
For a successful ETF approval, the US SEC needs to approve amended 19b-4 filings and finish the S-1 filings’ review process.
The changes on amended 19b-4 and S-1 filings are likely to be made public on January 8 and could receive approval by the US SEC soon thereafter.

Akash Girimath FXStreet

The latest Bitcoin spot ETF news includes the amended 19b-4 filings submitted by the 11 applicants on January 5. Hence, the next week is extremely crucial for the crypto ecosystem as the Bitcoin spot ETF approval is closer to approval than ever.

Bitcoin spot ETF update

On January 5, 11 Bitcoin spot ETF applicants submitted amended 19b-4 filings, which will be made public on Monday. Following this, the US Securities and Exchange Commission (SEC) will either approve, reject or ask the applicants to make necessary changes, if any.

Okay, done for the night. All 11 of these #Bitcoin ETF filers are still in the Cointucky Derby pic.twitter.com/6i8wFaWZVe
— James Seyffart (@JSeyff) January 5, 2024

An educated guess would show that if the changes are accepted on Monday, then the Bitcoin spot ETF approval could come as soon as Tuesday or Wednesday. According to Reuters’ the SEC commissioner vote will take place on Wednesday, which means that a potential ETF launch could take place on Thursday or Friday.

One thing to note here is that there have been speculations that the Commission could approve all ETFs in a single go.

Also read: Bitcoin price hovers around $43,800 as US Nonfarm Payrolls defies expectations, rising by 216,000

BTC price implication on spot ETF approval

It is clear that the crypto markets and its participants are waiting with bated breath for a Bitcoin spot ETF approval. This is abundantly clear due to the fact that Bitcoin price slid 11% on January 3 which triggered millions in liquidation.

Bitcoin price currently trades around $43,800 and could spike as high as $50,000. Since many investors are looking to trade the news the volatility will be heightened so traders are advised to exercise caution.

Also read: Following spot Bitcoin ETF applicants, SEC holds meetings with NYSE, NASDAQ and other exchanges

Author

Akash Girimath

FXStreet

Akash Girimath is a Mechanical Engineer interested in the chaos of the financial markets. Trying to make sense of this convoluted yet fascinating space, he switched his engineering job to become a crypto reporter and analyst.