Bitcoin

James

<p>Within three days of <a href="https://coingape.com/a-new-19b-4-filing-seeks-options-trading-for-spot-bitcoin-etfs-will-the-sec-allow/" target="_blank" rel="noopener">filing the 19b-4</a> for the options trading of the spot Bitcoin ETFs, the U.S. Securities and Exchange Commission (SEC) has acknowledged the request.</p> 
<h3 id="options-for-spot-bitcoin-etfs-coming-next-month">Options for spot Bitcoin ETFs Coming Next Month?</h3> 
<p>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 trade options on spot Bitcoin exchange-traded funds (ETFs). This process is notably faster than the SEC’s usual pace.</p> 
<p>Seyffart speculates that options trading could receive approval as early as the end of February if the SEC opts for an expedited review. However, he notes that the absolute earliest timeframe for a decision is approximately 27 days away. On the other hand, the absolute latest decision could be expected around September 21, 2024.</p> 
<p>Responding to inquiries about the accelerated timeline, Seyffart emphasizes that this process is notably quicker than other 19b-4 submissions. Drawing from his experience, he <a rel="nofollow" href="https://twitter.com/JSeyff/status/1748427715324084359" target="_blank">highlights</a> instances where it took as little as 14 days for similar requests. Notably, the 19b-4 submissions in question were posted on January 16, making the current evaluation period only three days old.</p> 
<h3 id="day-5-of-the-btc-etfs-going-live">Day 5 of the BTC ETFs Going Live</h3> 
<p>In a recent update, Bloomberg’s ETF strategist, Eric Balchunas, reflects on the fifth day of trading, which has seemingly felt more prolonged than its actual duration. The total rolling net 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.</p> 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <p lang="en" dir="ltr">LATEST: Day Five (but its felt like months hasn't it?) is in books TOTAL ROLLING NET FLOWS at +$1.2b, down a bit after <a href="https://twitter.com/search?q=%24GBTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$GBTC</a>'s whopper -$582m edged out the Nine's +$447m. <a href="https://twitter.com/search?q=%24GBTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$GBTC</a> bloodbath up to -$2.2b vs the Nine's +$3.3b w/ $6.6b in volume. <a href="https://twitter.com/search?q=%24FBTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$FBTC</a> joins <a href="https://twitter.com/search?q=%24IBIT&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$IBIT</a> in the Billy Club. <a href="https://t.co/q6pFIrPTFV">pic.twitter.com/q6pFIrPTFV</a></p> 
 <p>— Eric Balchunas (@EricBalchunas) <a href="https://twitter.com/EricBalchunas/status/1748326515312341171?ref_src=twsrc%5Etfw">January 19, 2024</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<p>The $GBTC’s decline has contributed to a significant bloodbath, now totaling -$2.2 billion, compared to the <a href="https://coingape.com/bitcoin-etf-the-nine-etfs-see-volume-spike-at-week-close/" target="_blank" rel="noopener">Nine’s robust +$3.3 billion</a>, accompanied by a notable $6.6 billion in volume. Balchunas notes the inclusion of $FBTC, which has joined $IBIT in the Billy Club, signifying noteworthy developments in the market landscape.</p> 
<p>Balchunas added: “After five days of existence the Newborn Nine have about 40% of the bitcoin holdings of MicroStrategy “. Here’s a look into the total inflows of the spot Bitcoin ETFs within the initial five days of trading.</p> 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <p lang="en" dir="ltr">NEW: <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f1fa-1f1f8.png" alt="🇺🇸" class="wp-smiley" style="height: 1em; max-height: 1em;"> Top 5 spot <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> total inflows as of yesterday: <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f680.png" alt="🚀" class="wp-smiley" style="height: 1em; max-height: 1em;"></p> 
 <p>BlackRock: $1.23 billion<br>Fidelity: $1.06 billion <br>Bitwise: $393 million <br>ARK 21Shares: $319 million <br>Invesco Galaxy: $194 million <a href="https://t.co/hVDwOM4YQS">pic.twitter.com/hVDwOM4YQS</a></p> 
 <p>— Bitcoin Magazine (@BitcoinMagazine) <a href="https://twitter.com/BitcoinMagazine/status/1748459427282169965?ref_src=twsrc%5Etfw">January 19, 2024</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<p>After some selling pressure on Thursday, January 18, the BTC price has bounced back above $42,000 levels as of press time.</p> 
<p>The post <a href="https://coingape.com/us-sec-acknowledged-options-for-spot-bitcoin-etfs-approval-by-feb-end/">US SEC Acknowledged Options for Spot Bitcoin ETFs, Approval By Feb End?</a> appeared first on <a href="https://coingape.com">CoinGape</a>.</p>

US SEC Acknowledged Options for Spot Bitcoin ETFs, Approval By Feb End?

Table of Contents

Coingape News Media

Other articles published on Jan 20, 2024

BREAKING: Coinbase Announces to List Three New Altcoins in Futures

Fidelity Bitcoin Spot ETF Records $1 Billion In Net Inflows – Details

Manta Pacific’s Long-anticipated Airdrop Failed To Meet Expectations

Chainlink Price Prediction: Is the Price Ready to Soar in an Uptrend

UNI Price Prediction: UNI Seems in Dilemma; Will Bulls Cross $7?

Significant Increase in Crypto Trading Volume at South Korea’s Bithumb Exchange

Join our free newsletter for daily crypto updates!