The SEC is possibly nearing the approval of spot Bitcoin ETF applications based on the latest development this week.
Amid the buzz surrounding the spot Bitcoin ETF applications, the SEC continues to maintain silence on the matter.
The submission of Form 8-A suggests that the SEC's decision is imminent, but it does not necessarily imply approval.
Key U.S. financial institutions, such as JP Morgan, Jane Street Capital, Virtu Americas and Cantor Fitzgerald, are among the authorized participants for spot Bitcoin ETF issuers.
The agency, which has rejected spot Bitcoin ETF applications in the past, is expected to approve the new set of issuers in a move that will unlock opportunities and provide access for traditional investment in the world's largest cryptocurrency asset by market capitalization, Bitcoin.
Matrixport's research created a market shakeup, causing Bitcoin to erase its gains from the previous day and trade in the red zone.
Titled "Why the SEC will REJECT Bitcoin Spot ETFs again," Matrixport's latest research, while acknowledging its prior forecast of Bitcoin rallying toward $50,000 by the end of January 2024, indicates that the SEC will "reject all proposals in January."
Ongoing speculation links Bitcoin's price plunge to reports hinting at the SEC's potential rejection of spot Bitcoin ETF applications.
Last week, BlackRock once again amended its S-1 form, this time naming JP Morgan and Jane Street Capital as the authorized participants.
Saylor had commenced the sale of his stock option awards, consisting of 315,000 shares, which were originally granted to him in April 2014. These stock options will expire on April 30.
More information about the SEC and the timeline of its possible announcement of spot Bitcoin ETF approvals surfaced online this week.
Interestingly, the latest SEC filing did not mention Jane Street or Virtu Financial, the market-making heavyweights that the firm had said it would work with if its Grayscale Bitcoin Trust (GBTC) received SEC approval to be converted into an ETF.
One of the possible explanations behind the sudden surge in the value of Bitcoin may be linked to the swelling hype surrounding the imminent approval of some spot Bitcoin ETF proposals of several Wall Street giants, which is anticipated to be announced by the SEC this week.
It was reported last week that the SEC may inform hopeful issuers this Tuesday or Wednesday whether they are cleared to launch their spot Bitcoin ETF.
Tether's strategic move to withdraw millions of dollars in Bitcoin has resulted in a staggering profit of $1.148 billion, recording a 68% profit margin.
The naming of the AP could be tricky, according to an ETF analyst because the SEC not only wants them identified in the documents but requires issuers to make the AP the underwriter of the spot Bitcoin ETF.
Dimon made headlines last month when he vocally criticized Bitcoin, the world's largest crypto asset by market capitalization, saying he would "close down" BTC if he was the one running the U.S. government as the crypto asset, along with other cryptocurrencies, is used by criminals.
Last week, it was reported that the SEC met with hopeful spot Bitcoin ETF issuers to iron out details of their filings and inform them of a deadline for submitting amended proposals on Dec. 29.
The latest purchase places MicroStrategy's total Bitcoin holdings at 189,150 BTC, acquired at an aggregate price of $5.895 billion, at an average price of around $31,168 per BTC.
Wood's ARK Invest is collaborating with 21Shares on Bitcoin and Ethereum Futures ETF products and its ARK 21 Shares Bitcoin ETF is among the first proposal subject to SEC's final decision on Jan. 10.
In a Reddit thread, several users claimed to have received payments from the now-defunct Bitcoin exchange distributed via Japanese Yen-denominated refund on PayPal.
Over the past few weeks, several companies, including Blackrock and ARK, amended their S-1 registration with the SEC, to make it to the supposed first batch of approved spot Bitcoin ETF issuers.
