People exit the headquarters of the U.S. Securities and Exchange Commission (SEC) in Washington, D.C.
Reuters

KEY POINTS

  • The SEC has reportedly set the final deadline for the submission of S-1 at 8 a.m. Monday
  • Last week, the financial regulator gave its final feedback on the spot Bitcoin ETF filings
  • Bitcoin was trading in the green zone at $44,047.46 as of 1:42 p.m. ET on Sunday

The U.S. Securities and Exchange Commission (SEC) seems pleased with the latest paperwork submitted by hopeful spot Bitcoin exchange-traded fund (ETF) issuers as it has set a final deadline for asset managers to file their final S-1 form ahead of the rumored Jan. 11 approval announcement, industry experts disclosed.

The SEC has faced significant pressure from hopeful issuers and the broader cryptocurrency industry as the hype surrounding the eagerly awaited spot Bitcoin ETF swells.

While it was reported that the SEC started giving its final comment on spot Bitcoin ETF filings Friday, no feedback was provided on the said paperwork, indicating that officials were satisfied with the issuers' recently filed paperwork.

What happens next?

ETF Store president and ETF Prime co-founder Nate Geraci highlighted in a post on X over the weekend that issuers can now submit their final 19b-4 form, or the document used to inform the SEC of a proposed rule change by a self-regulatory organization (SRO).

The information was confirmed by Bloomberg Intelligence senior ETF analyst Eric Balchunas, who shared that the SEC set the final deadline for the submission of S-1 at 8 a.m. Monday.

Moreover, the ETF analyst also disclosed that the agency is trying to "line up everyone" for a Thursday launch.

"Yeah it's basically done. Latest I'm hearing (from multiple sources) that final S-1s are due 8am on Monday as SEC is trying to line everyone up for Jan 11th launch. That said, I still want to hear it from the SEC to call it official," Balchunas said.

Last week, Balchunas shared an interesting update on X regarding the crypto investment vehicle, further hyping community anticipation.

According to his update, the SEC, at the time, was giving its final feedback on the spot Bitcoin ETF filings.

The sponsors are now expected to submit their final 19-b4 filings, indicating that the cryptocurrency investment product is nearing completion.

As of 1:42 p.m. ET on Sunday, Bitcoin was trading in the green zone at $44,047.46, with a 24-hour trading volume down by 2.14% at $18,427,184,204. This latest price action represents a 0.16% spike in its value for the day and a 3.41% gain in the last seven days.

Data from CoinMarketCap indicates that Bitcoin's current circulating supply stands at 19,592,256 BTC, and its market cap is at $863,007,907,611.

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