Several potential issuers met with the SEC to discuss their spot Bitcoin ETFs, adding to hopes that harmonized approvals may be on the horizon. 

The United States Securities and Exchange (SEC) held calls with spot Bitcoin ETF filers, including BlackRock, Valkyrie, ARK 21Shares, Franklin Templeton, Fidelity, VanEck, and Grayscale on Dec. 21 regarding their respective bids for investment vehicles that would hold crypto’s largest token.

According to documents on the Commission’s website, issuers reportedly spoke with staff from the SEC’s divisions of corporation finance, trading, and market. Fox Business initially reported the news and noted multiple conversations between companies and the SEC.

Filings at press time had confirmed SEC meetings with seven of 13 potential Bitcoin ETF issuers. Bloomberg’s Eric Balchunas surmised that these talks were likely centered on redemption models, with the SEC set on cash creations rather than an in-kind structure. 

The SEC’s likelihood of leaning toward cash-create redemptions had previously been reported by crypto.news, although Wall Street titan BlackRock seemingly pushed for in-kind inclusions. Some firms like Hashdex and Valkyrie have since filed updated S-1 documents with cash-only amendments for their spot Bitcoin ETFs.

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Author: Naga Avan-Nomayo

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