SEC met with representatives of stock exchanges over Bitcoin ETF

On January 3, 2024, the U.S. Securities and Exchange Commission (SEC) met with representatives of the New York Stock Exchange (NYSE), Nasdaq and the Chicago Board Options Exchange (CBOE). This is reported by Fox Business with reference to your own source.

During the meeting, the parties discussed details of the potential launch of a spot Bitcoin ETF on stock exchanges. The SEC has asked the exchanges to review and finalize 19b-4 filings on behalf of issuers.

🚨SCOOP: The @SECGov is holding meetings today with the exchanges (@Nasdaq, @CBOE, @NYSE) to finalize comments on the 19b-4s submitted by the $BTC Spot ETF issuers.

— Eleanor Terrett (@EleanorTerrett) January 3, 2024

Although a final decision has not yet been made, the Commission could begin notifying issuers of the approval of a spot Bitcoin ETF on January 5, 2024, with trading beginning as early as next week, the source claims. Some experts believe that the SEC's negotiations with ETF issuers are close to completion, and a final decision on applications will be made before January 10.

Meanwhile, Fidelity has updated its bid for a spot Bitcoin ETF. The company has filed a form with the SEC to register the asset as a security in the United States, according to analyst James Seyffarth.

My understanding here is that this is just a securities registration. In order to list the ETF still needs a 19b-4 approval and they need an effective/approved/completed S-1 document. No 19b-4 yet. And S-1 is still preliminary (seen below). I'm still looking towards next week https://t.co/VsgbpJHMVp pic.twitter.com/Iu31AkUswP

— James Seyffart (@JSeyff) January 3, 2024

Previously, Matrixport analysts said that the SEC could approve spot Bitcoin ETFs on January 2-3. They then submitted a report indicating that the regulator would not be registering spot ETFs any time soon.

The market reacted with a sudden decline to Matrixport's announcement. The Bitcoin price immediately fell below $41,500, and the volume of liquidations over the past 24 hours exceeded $500 million. At the time of publication, the asset was trading above $43,000, according to Trading View.

Later, Matrixport co-founder Jihan Wu commented on the situation surrounding the possible postponement of the launch of a spot Bitcoin ETF. According to him, the company has reconsidered its point of view in a dynamically changing market.

Specialists from the analytical platform CryptoQuant warned of a possible correction in Bitcoin to $32,000 after registration of this product.