SEC, stock exchange officials meet ahead of potential spot bitcoin ETF approval

FOX Business has learned that SEC staff attorneys from the Division of Trading and Markets are meeting Wednesday with officials from the major exchanges — the New York Stock Exchange, Nasdaq and Chicago Board Options Exchange — where the ETFs would trade.

The meetings are seen as a positive sign that the SEC is nearing approval of some or all of the dozen applications by major money managers and crypto firms for the product, according to people at the firms who asked not to be quoted by name. Specifically, the SEC is asking the exchanges to revise and finalize their so-called 19b-4 filings, submitted by the exchanges on behalf of issuers, which must receive SEC clearance before the ETF can be sold to the public.

While the final decision has not been made, sources close to the proceedings say the SEC could begin notifying issuers of approval on Friday with trading beginning as early as next week. ETF analysts and issuers alike remain confident that a favorable decision from the SEC will be made on or before Jan. 10, as the SEC continues to meet with key players on the matter.

Source: SEC, stock exchange officials meet ahead of potential spot bitcoin ETF approval