EddieJayonCrypto
22 Dec 23
The US Securities and Exchange Commission (SEC) held a joint conference call with spot Bitcoin ETF filers, with a decision on the spot ETF potentially coming by January 10. The SEC focused on ensuring that issuers convert all "in-kind redemptions" from their ETF filings and mandated cash conversions...
The US Securities and Exchange Commission (SEC) held a joint conference call with spot Bitcoin ETF filers, with a decision on the spot ETF potentially coming by January 10. The SEC focused on ensuring that issuers convert all "in-kind redemptions" from their ETF filings and mandated cash conversions to mitigate risks before potential approval. This development is significant for the cryptocurrency market, as it signals a shift from the SEC's past cautious rejection to dialogue and potential approval. Additionally, separate calls were made to exchanges and issuers on Cash Creates, with a particular focus on the SEC's take on the Prime Execution Agent model.
The US Securities and Exchange Commission (SEC) reportedly held a joint conference call with spot Bitcoin ETF filers. Fox Business’ senior correspondent, Charles Gasparino, shared an update on the development. Calling it a “rare joint conference call,” Gasparino noted that it is a developing story. He previously underlined that the decision on the spot ETF could come by January 10 and would decide retail investors’ access to crypto. SEC ENSURES BROKER’S TRADING RESTRICTION In a follow-up report, Fox’s Eleanor Terrett also shared a significant update based on sources. According to her, the call was to make sure “everyone is doing cash creates.” Terrett revealed that the SEC’s focus during the meeting was on ensuring that issuers convert all “in-kind redemptions” from their ETF filings.
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