Update on Bitcoin Spot ETF: SEC Holds Intensive Meetings with BlackRock and Others, Remains Optimistic Towards 1/10 Approval Deadline

Bloomberg ETF analyst James Seyffart shared that BlackRock, Grayscale, Franklin, and Fidelity have all met with the SEC in recent days to discuss the details of a Bitcoin spot ETF. The SEC’s Trading and Markets Division and the Division of Corporation Finance both attended the meetings, and these two divisions will decide whether the 9b-4 and S-1 applications will be approved or rejected, and when. Ark 21Shares Bitcoin ETF, managed by Ark Invest, is currently the closest to the approval deadline for a Bitcoin spot ETF. It is optimistic that several Bitcoin spot ETFs will be approved before January 10th.

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Whether BlackRock can convince the SEC to allow physical creation is key
Ark approval deadline 1/10, 13 companies consolidated for a look
Bloomberg ETF analyst Eric Balchunas jokingly remarked that the SEC is busier than Santa’s elves.
BlackRock’s meeting yesterday was the most notable in my opinion because everyone was waiting to see if they could convince the SEC to allow physical creation in the first round of approvals.
Balchunas mentioned that the participants in this meeting also included Rachel Aquirre, the head of U.S. iShares, and the rest were mostly lawyers. He also wondered why market makers were not invited to participate in these meetings.
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Fidelity Bitcoin Spot ETF Process Chart: A deeper understanding of the physical operation model the SEC is concerned about
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Ark 21Shares Bitcoin ETF is currently the closest to the approval deadline for a Bitcoin spot ETF. Although Ark only had one meeting with SEC officials recently, there is still optimism that several Bitcoin spot ETFs will be approved before January 10th. In fact, Ark applied for a Bitcoin spot ETF as early as 2021.
Below is a list compiled by Chain News of various asset management companies, with approval deadlines based on Bloomberg ETF analyst’s sharing and dates on federal announcements.

SEC
Bitcoin
Bitcoin spot ETF
BlackRock

Further reading
VanEck Bitcoin Spot ETF Fifth Amendment, creation process includes both physical and cash
Fidelity Bitcoin Spot ETF Process Chart: A deeper understanding of the physical operation model the SEC is concerned about