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International Business Times
International Business Times
Business
Nica Osorio

Bitcoin ETF Applicants May Have To Face One More SEC Hurdle Before Approval, Says Analyst

SEC Bitcoin ETF BlackRock ARK Eric Balchunas
Bitcoin standing on edge amongst other scattered bitcoins. (Credit: QuoteInspector.com/flickr)

KEY POINTS

  • Spot Bitcoin ETF issuers must state authorized participant in their S-1 registration
  • An authorized participant could be a financial institution that manages the creation and redemption of ETF shares in the primary market
  • Bitcoin was trading in the red zone at $43,168.51 as of 5:42 a.m. ET on Monday

As reports claim that the U.S. Securities and Exchange Commission (SEC) is poised to announce the first wave of spot Bitcoin exchange-traded fund (ETF) issuers in the early part of January 2024, it appears that applicants will have to overcome another hurdle in their applications before being approved.

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