The Securities and Exchange Commission is currently in negotiations with asset managers who have applied to launch a spot Bitcoin ETF, with a focus on technical details.
These discussions are taking place at the final stage before the product is approved, according to sources cited by the news agency.
One of the main points of discussion is the mechanism for storing, creating, and redeeming positions, as well as the disclosure of risks to investors.
The SEC is expected to approve multiple ETFs, giving investors more options to compare. In July, the Commission received requests from BlackRock, VanEck, Invesco, Fidelity Investments, WisdomTree, and later Franklin Templeton to launch digital gold spot funds.
However, on August 31, the SEC announced a delay in making a decision on these applications until at least mid-October.
This was followed by another postponement in September, pushing the decision on Bitcoin ETFs to January 2024.
Previous meetings were primarily with staff in the SEC’s trading, markets, and corporate finance divisions, as well as with staff in the office of Chairman Gary Gensler.
