New updates reveal BlackRock has submitted a revised Bitcoin Spot ETF filing to the SEC. Bloomberg analysts indicated ongoing negotiations between the SEC and BlackRock, along with other Bitcoin Spot ETF applicants.
Bitwise also adjusted its SEC application recently, suggesting intense discussions among early applicants. While the SEC favors the cash method for spot ETF applications, applicants are adamant about an in-kind approach directly holding Bitcoin.
Bloomberg analysts estimate a 90% chance of Bitcoin Spot ETF approval by January 10. Recent delays imply that SEC decisions regarding BTC spot ETFs will involve all applicants collectively.
BTC’s price surged above $42,000 amid expectations for the spot ETF, reflecting market anticipation.