Recently submitted Bitcoin ETF applications under review by SEC.

The U.S. Securities and Exchange Commission (SEC) has officially begun the review process for the latest batch of bitcoin exchange-traded fund (ETF) applications. While the regulator has invited public comments on the applications, the formal review period will commence once the filings are published in the federal register.

The SEC has specifically requested feedback on the five Bitcoin ETF applications filed by Cboe, which include Wise Origin, WisdomTree, VanEck, Invesco Galaxy, and ARK 21Shares. This signals the SEC’s intention to gather insights and opinions from stakeholders regarding these applications.

The review of these bitcoin ETF applications demonstrates the SEC’s ongoing examination of the regulatory landscape surrounding cryptocurrency investment products. The outcome of this review process will have a significant impact on the availability and accessibility of Bitcoin ETFs to investors in the future.

In other news, the shares of cryptocurrency exchange Coinbase saw a significant surge, rising by as much as 16%. This surge followed Coinbase’s agreement with Cboe’s BZX Exchange to maintain a surveillance-sharing arrangement related to the five ETF applications mentioned earlier.

Moving forward, BlackRock’s application for a spot Bitcoin ETF has been officially added to the SEC’s docket as part of the proposed rule change process. This represents a major advancement for one of the most closely-watched Bitcoin-related proposals submitted to the SEC.

In response to the SEC’s feedback on BlackRock’s initial application, the company submitted a revised application that included a “surveillance sharing” provision. This provision would involve the Coinbase crypto exchange monitoring and reporting potential illegal activities, addressing the SEC’s concerns.

It is important to note that the review and decision-making process for ETF applications can be complex and time-consuming. However, the developments in the SEC’s review of these Bitcoin ETF applications highlight the increasing interest and demand for regulated investment products in the cryptocurrency market.

Overall, the SEC’s review process for the latest batch of Bitcoin ETF applications, as well as the surge in Coinbase’s shares and progress on BlackRock’s application, all contribute to the evolving landscape of cryptocurrency regulation and mainstream adoption. Investors and industry stakeholders will be closely watching the outcome of these developments as they have the potential to shape the future of cryptocurrency investment products.