In a groundbreaking turn of events, discussions held on Friday among investment management firms, stock exchanges, and the U.S. Securities and Exchange Commission (SEC) indicate that the finalization of wording changes on filings for spot Bitcoin ETFs could potentially lead to their approval in the United States as early as next week. Sources familiar with the matter have disclosed that issuers engaged in discussions with SEC officials regarding the S-1 prospectus documents, a crucial step in the approval process for every Exchange-Traded Fund (ETF).
Executives and representatives from five firms, choosing to remain unidentified due to the confidential nature of the ongoing talks, have revealed that multiple issuers are optimistic about receiving final approval for their S-1 filings by late Tuesday or Wednesday. The SEC, seeking what three issuers described as “minor” changes, may prompt some asset managers to amend their filings, specifically to disclose fees or the identities of market-makers for their ETFs. These updates are expected by 8 a.m. ET (1300 GMT) on Monday, potentially becoming public on the same day, sources familiar with the process have stated.
While anticipation builds for the approval of spot Bitcoin ETFs, rumors surfaced on Monday suggesting that BlackRock, the world’s largest asset manager, had registered to launch an XRP Exchange-Traded Fund (ETF). This followed BlackRock’s recent registration of a spot Ether ETF. The rumored XRP ETF, allegedly named “Ishares XRP Trust,” triggered speculation about BlackRock’s shift in focus to XRP. However, swift clarifications emphasized that the news was false, with BlackRock not transitioning from Bitcoin to XRP.
Despite the misinformation surrounding BlackRock’s involvement with XRP, the cryptocurrency has seen positive developments. The Dubai Financial Services Authority recently recognized XRP as a legitimate crypto token, and in July, District Judge Analisa Torres ruled in the Ripple case that “as a matter of law, XRP is not a security.”
BlackRock, having already filed for a spot Bitcoin ETF called Ishares Bitcoin Trust, further fueled anticipation by filing for a spot Ether ETF named Ishares Ethereum Trust last week. Notably, while the SEC has approved some ETFs based on crypto futures, it has yet to approve any spot crypto ETFs. SEC Chairman Gary Gensler recently stated that the regulator is considering between eight to 10 spot Bitcoin ETF applications, with expectations high for the approval of multiple spot Bitcoin ETFs simultaneously, according to JPMorgan’s analysts.
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In just two days since its launch, the CTF Token has experienced a remarkable increase in wallet holders, boasting nearly 150% growth and an astounding 4000% surge in value. CryptoTradingFund‘s official Twitter page highlights the growing community and emphasizes the token’s potential for passive income generation.
In a strategic move, CryptoTradingFund is collaborating with the XRP crypto community, offering complimentary CTF Tokens as a pathway to passive income. Interested individuals can claim their tokens by contacting the official Twitter page. The surge of over 4800% in the last 48 hours signals the beginning of a unique opportunity in the crypto market. Join the CTF community and seize this chance for financial growth and generational wealth. As discussions progress, the potential approval of spot Bitcoin ETFs and the growing popularity of innovative tokens like CTF contribute to the evolving landscape of the cryptocurrency market.
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