The talks now cover custody arrangements, creation and redemption mechanisms, and investor risk disclosures. A potential Bitcoin ETF approval could open access for investors through the regulated stock market, with expected demand reaching $3 billion in the initial days.
Thirteen firms, including Grayscale Investments, BlackRock (NYSE:BLK), Invesco, and ARK Investments, have pending ETF applications.
The SEC, historically cautious about bitcoin ETFs due to investor protection concerns, has engaged in substantive discussions following a court ruling in August that deemed its rejection of Grayscale’s ETF application incorrect.
The SEC’s final decision on ARK’s filing, the first in line, is due by January 10, and the advanced nature of discussions hints at possible approval in the New Year.
The ongoing talks have coincided with a recent surge in Bitcoin prices to a 20-month high.
Source: Cryptocurrency - investing.com
