Among the companies participating in the meeting with the SEC included BlackRock, Grayscale Investments, ARK Investments and 21 Shares. Directors of two of those companies said the SEC had set December 29 as the deadline for final changes of their filings.
The SEC informed that any company that fails to meet that deadline will not be approved by early January. Most companies now expect that the SEC may approve their spot Bitcoin ETF within that period.
In recent years, the SEC has rejected multiple Bitcoin ETF Spot applications, arguing that the cryptocurrency market is easy to manipulate. The crypto ETFs that the SEC has approved only involve Bitcoin and Ethereum futures contracts.
However, in recent months, there have been signs that regulators are ready to approve at least one of the 13 spot Bitcoin ETF applications. Some people believe that the reason is because the SEC lost its lawsuit against Grayscale last month.
Some companies have also been proactive in updating their ETF offerings to meet the SEC’s requirements. Both BlackRock and ARK updated their filings earlier this week to allow cash withdrawals, a change required by the SEC.