Yesterday, bitcoin spot ETF issuers including Fidelity, Grayscale, Ark Invest/21 Shares, Valkyrie, and VanEck have all submitted the “8-A form” for securities registration. Bitwise was the first to submit the 8-A form last Friday. This marks further progress in the potential approval of a bitcoin spot ETF.
According to documents submitted to the SEC on the 4th, including Fidelity, Grayscale, Ark Invest/21 Shares, Valkyrie, and VanEck, among other bitcoin spot ETF issuers, have all submitted the “8-A form” for securities registration. Bitwise was the first to submit the 8-A form last week.
The 8-A securities registration form, as reported by The Block, is a necessary application for an ETF before listing. Once the ETF is approved for listing by the SEC, the issuer can register the product as a security on the exchange. This represents further progress for a potential bitcoin spot ETF and increases the likelihood of SEC approval.
However, Bloomberg ETF analyst James Seyffart stated that his understanding is that the 8-A form is only for securities registration, and this application needs to be completed before listing. It does not mean that they have been approved.
To officially list a bitcoin spot ETF, in addition to SEC approval for the 19b-4 form for changes in trading rules, approval is also required for the S-1 registration statement application. These two applications are completely separate, and both documents need to be approved by the SEC before trading can begin.
According to another Bloomberg ETF analyst, Eric Balchunas, the SEC is providing final opinions on the bitcoin spot ETF, and the issuers will soon submit the final 19b-4 and S-1.
Yesterday, The Block cited sources who revealed that the remaining issues regarding the bitcoin spot ETF have been resolved in communication with the applicants by the SEC, including the creation/redemption model, designated authorized participants, and bitcoin forks.
The market is eagerly waiting to see if the SEC will approve the bitcoin spot ETF before the January 10th deadline. Fox News reported yesterday that informed sources disclosed that the SEC may approve the ETF as early as Friday, and trading will officially begin next week. In response to this news, James Seyffart commented:
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