Franklin

Bitcoin ETF

Gary

Spot

<p>The moment of truth is approaching. Will the SEC soon approve Spot Bitcoin ETF applications? Or will it go as far as to postpone its decision? Recently, issuers of similar requests have been increasing meetings with officials from this U.S. financial regulatory body. Gary Gensler and his team must be under pressure.</p>
<h2 id="h-bitcoin-etf-blackrock-and-others-in-talks-with-the-sec">Bitcoin ETF: BlackRock and others in talks with the SEC</h2>
<p>Of all the asset managers interested in Spot Bitcoin ETFs, <strong>BlackRock seems to be the most active</strong>. Of course, Grayscale, which has <a href="https://www.cointribune.com/en/etf-bitcoin-se-rapproche-la-sec-perd-une-bataille-face-a-grayscale-2/" target="_blank" rel="noopener noreferrer nofollow">already won a lawsuit against the SEC</a>, has opted for physical meetings with Gensler’s team, but BlackRock is not letting up.</p>
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     <p lang="en" dir="ltr">Bloomberg analyst James Seyffart said that all four ETF issuers have met with the SEC in the past few days regarding spot Bitcoin ETF applications, with BlackRock meeting with the SEC for the third time in as many weeks. And Grayscale, Franklin and Fidelity all met with the SEC…</p>— Wu Blockchain (@WuBlockchain) <a href="https://twitter.com/WuBlockchain/status/1734745415688524098?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">December 13, 2023</a>
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  Grayscale met with SEC commissioners for the third time
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<p>In James Seyffart’s tweet, we learned that BlackRock had visited the SEC’s offices yesterday. All in all, <strong>three highly significant meetings with their American market regulators</strong> since filing.</p>
<p>For James Seyffart, there is “<em>nothing revolutionary to report</em>”. Thus, we cannot expect an express green light from the SEC after <a href="https://watcher.guru/news/sec-meets-with-blackrock-to-discuss-spot-bitcoin-etf" target="_blank" rel="noopener noreferrer nofollow">yesterday’s meeting</a>.</p>
<p>Regarding the players, the finance expert at Bloomberg provided some equally interesting details.</p>
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     <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&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> ETF filings in last few days. <a href="https://twitter.com/BlackRock?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@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" rel="noopener noreferrer nofollow">@Grayscale</a>, Franklin, and <a href="https://twitter.com/Fidelity?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@Fidelity</a> each had meetings last week <a href="https://t.co/5gwBk83m0o" rel="noopener noreferrer nofollow">pic.twitter.com/5gwBk83m0o</a></p>— James Seyffart (@JSeyff) <a href="https://twitter.com/JSeyff/status/1734679896746758219?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">December 12, 2023</a>
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  Spot Bitcoin ETF: the decision comes down to these bodies
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<p><em>“As you can see from the screenshots — both the Division of Trading &amp; Markets AND the Division of Corporate Finance were present at each of these meetings. Those are the two divisions that will ultimately decide if &amp; when the 19b-4’s &amp; S-1’s would be approved or denied.”</em></p>
<p>As for the deadline for these spot BTC ETFs, Seyffart clarified that BlackRock’s is set for March 15, 2024. Whereas on social media, the date of January 10th is repeatedly mentioned.</p>
<h2 id="a-highly-anticipated-yes">A highly anticipated “YES”</h2>
<p><strong>Opinions are divided</strong> regarding the SEC’s final decision on these bitcoin spot trackers. On one hand, there are skeptics like Mike Belshe, CEO of BitGo (a cryptocurrency custody firm), who argue that the SEC will reject these applications.</p>
<p>On the other hand, there are optimists who are betting on <strong>a YES for all the pending applications</strong>, cites <a href="https://coingape.com/spot-bitcoin-etf-approval-blackrock-fidelity-2-others-met-us-sec-this-week/" target="_blank" rel="noopener noreferrer nofollow">CoinGape</a>. Thus, the applicants will not be victims of partiality on the part of the SEC.</p>
<p>It should also be noted that an approval before January 10th would give Grayscale, BlackRock, Fidelity, and Franklin Templeton some room to maneuver, as they will surely list and trade their spot ETFs.</p>
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<p>And to conclude, many expect the price of BTC to rise if these Exchange Traded Funds are approved. An analysis by Glassnode was able to quantify the influx of money into the market on this occasion: 70 billion dollars.</p>

Spot Bitcoin ETF: Financial Behemoths Continue to Shake the SEC

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