Bitcoin Spot ETF Update: SEC Holds Meetings with BlackRock and Others, Still Optimistic about Approval Deadline on January 10th

Bloomberg ETF analyst James Seyffart shared that BlackRock, Grayscale, Franklin Templeton, and Fidelity have all met with the SEC in recent days to discuss the details of a Bitcoin spot ETF. Representatives from the SEC's trading and markets division as well as the division of corporation finance attended the meetings, and these two divisions will decide whether and when the 9b-4 and S-1 applications will be approved or rejected. Ark 21Shares Bitcoin ETF by Ark Invest is currently the Bitcoin spot ETF closest to the approval deadline, and there is optimism that several Bitcoin spot ETFs will be approved before 10/1.

Nothing groundbreaking to report but 4 different issuers have met with the SEC regarding their #Bitcoin ETF filings in last few days. @BlackRock met with them yesterday for the third time in as many weeks. While @Grayscale, Franklin, and @Fidelity each had meetings last week pic.twitter.com/5gwBk83m0o

— James Seyffart (@JSeyff) December 12, 2023

BlackRock Can BlackRock Convince the SEC to Allow In-Kind Creation is Key

Bloomberg ETF analyst Eric Balchunas jokingly remarked that the SEC is busier than Santa Claus's elves.

BlackRock's third meeting with the SEC yesterday seemed to be the most anticipated, as everyone was waiting to see if they could convince the SEC to allow in-kind creation in the initial approval.

Balchunas mentioned that participants in this meeting included Rachel Aquirre, head of U.S. iShares, and mostly lawyers. He also wondered why market makers were not invited to participate in these meetings.

Fidelity's Bitcoin Spot ETF Process: Understanding the Physical Operation Model that the SEC is Focused On

Damn, the SEC is busier than Santa's elves. BlackRock's third meeting with them yesterday is the most notable IMO as everyone is waiting to see if they can convince SEC to allow in-kind creations in the first run of approvals. https://t.co/r2jqgpg87m

— Eric Balchunas (@EricBalchunas) December 12, 2023

Ark Approval Deadline 1/10, 13 Companies Consolidated for Viewing

Ark's Ark 21Shares Bitcoin ETF is currently the closest Bitcoin Spot ETF to the approval deadline. Although Ark has only met with SEC officials once recently, everyone is optimistic that several Bitcoin Spot ETFs will be approved by 1/10. In fact, Ark applied for a Bitcoin Spot ETF as early as 2021.

Below is a list of various asset management companies, with approval deadlines based on information shared by Bloomberg ETF analyst and the dates on federal announcements.