U.S. SEC officials met on Thursday with representatives of at least seven companies hoping to launch exchange-traded funds (ETFs) tied to spot bitcoin early in 2024, and told at least two to submit final changes by the end of next week, Reuters reported. Among those holding discussions with the Securities and Exchange Commission were representatives from BlackRock and Grayscale Investments, as well as ARK Investments and 21 Shares. The SEC is due to decide whether to approve or reject the joint proposal from ARK and 21 Shares by Jan. 10. Most issuers expect the SEC will likely give the green light to several applications at the same time in the days leading up to that deadline. Executives from two of the firms that met with regulators — speaking on background because of the confidential nature of the discussions — said the SEC set a deadline for final updates to their filings of Dec. 29. Regulators told attendees at the meetings that any issuer that doesn't meet that deadline will not be part of a first wave of potential spot bitcoin ETF approvals in early January, both executives said.
