SEC holds urgent meeting with Nasdaq, CBOE, and NYSE to Finalize Bitcoin Spot ETF Approval

According to Fox Business, the US Security Exchange Commission (SEC) is in talks with prominent exchanges like Nasdaq, the Chicago Board Options Exchange (CBOE), and the New York Stock Exchange (NYSE) to finalize the discussion on ETF approval.

Contrary to Matrixport’s report of possible rejection of the ETF application until Q2 2024, Fox Business’s latest update has sent chills down the spine of the crypto community regarding the lingering Bitcoin ETF approval.

🚨SCOOP: The @SECGov is holding meetings today with the exchanges (@Nasdaq, @CBOE, @NYSE) to finalize comments on the 19b-4s submitted by the $BTC Spot ETF issuers.

— Eleanor Terrett (@EleanorTerrett) January 3, 2024

The intricate nature of the crypto market has seen a significant $540 million loss amid these speculations and a $5.57% drop in the bitcoin price, which surged to $45,000 in the last 24 hours.

Bloomberg Analyst Eric Balchunas argued that the report on ETF rejection was not concrete.

People tagging me like crazy on this “rejection” report. We have heard nothing to indicate anything but approval but I want to give the guy benefit of doubt so I’m asking if he has any sources or if he just speculating. He seems to be bitcoin bull and recently tweeted “executives” said approval likely. So unsure why he flipped

Eric Balchunas

Matrixport’s Markus Thielen, who reported the skyrocketing ETF denial, cleared the air in a conversation with Eric on X, sighting that the earlier information was based on consensus from research and had nothing to do with the SEC.

My report is not based on issuer, nor on SEC insider comments. Obviously this is massively out of consensus. I do think the SEC will vote it down. And yes, after being the biggest bull all year (predicted 45k by Xmas on Feb 1), I turned bearish today but the arguments were ready

— 10x Research (@thielen10x) January 3, 2024

As the crypto community eagerly anticipates the approval of the bitcoin ETF, all eyes are on the SEC to fulfill the long-awaited dream against the proposed January 10th deadline.