SEC Met 24 Times With BlackRock, Fidelity and Other BTC Spot ETF Filers - Will Gary Gensler Approve on January 10th?

2023-12-20 13:03:18

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The December 20, 2023, meeting marks the 24th discussion between BlackRock, NASDAQ, and the SEC, moving closer to potentially approving the iShares Bitcoin Trust ETF.
Bloomberg analyst James Seyffart projects a 90% chance of ETF approval by January 10, 2024, reflecting growing confidence in Bitcoin’s resilience and impact on the financial market.

In the recently updated memorandum titled “Meeting with BlackRock re: iShares Bitcoin Trust,” the 19th December session was noted as the 24th discussion. This meeting focused on the NASDAQ Stock Market’s proposal to list and trade shares of the iShares Bitcoin Trust, in accordance with NASDAQ Rule 5711(d).

The latest meeting on December 20, 2023, was a significant step in the Bitcoin ETF’s journey. Ten delegates – six from investment giant BlackRock and four from NASDAQ – met with the U.S. Securities and Exchange Commission (SEC). This meeting could be pivotal, potentially paving the way for the approval of spot Bitcoin ETF filings before the critical January 10, 2024 deadline.

To fully grasp these developments, let’s take a closer look through out this article.

James Seyffart, a Bloomberg ETF analyst, has projected a 90% likelihood of the ETF being approved by January 10th. Echoing CNF’s earlier report, Seyffart recently confirmed via Twitter that BlackRock had another discussion with the SEC, marking the 24th such meeting regarding the Bitcoin ETF.

Seyffart emphasized, “The timelines haven’t changed in my view. The key window is between January 8-10. Although some approvals could come earlier, I believe it’s unlikely.” This statement suggests that the Bitcoin ETF is highly likely to be approved by January 10th. Seyffart has also engaged with Thomas George and Scott Willis, key figures in the $DARP ETF, highlighting this in a previous tweet:

The crypto community is eagerly awaiting SEC Chair Gary Gensler’s decision in January. The strong commitment from investment management representatives to the SEC, coupled with the SEC’s deadline until November 17 to approve all 12 pending spot Bitcoin ETF applications, signals a 90% chance of approval by January 10, 2024, as CNF reports.

Despite market uncertainties and challenges like previous CNF reports on the Anti-Bitcoin Bill, , there’s a strong belief in Bitcoin’s resilience. Current market trends, with Bitcoin’s price at $42,855.99 and a weekly growth of 4.30%, affirm this belief. It’s becoming increasingly clear that Bitcoin, and cryptocurrencies in general, are here to stay, continuing to shape the financial world.

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