SEC acknowledges Fidelity, VanEck, WisdomTree, and Invesco Spot Bitcoin ETF applications
On July 14, the Securities and Exchange Commission (SEC) acknowledged the spot Bitcoin ETF applications submitted by Fidelity, VanEck, WisdomTree, and Invesco.
This acknowledgment, published on the SEC's website, represents a significant milestone in the cryptocurrency industry's pursuit of spot Bitcoin Exchange Traded Fund (ETF) approval.
Furthermore, similar acknowledgments were reported today for BlackRock, while companies like ARK Investment and BitWise had received acknowledgments from the regulator before that.
It's important to understand that this acknowledgment only guarantees the immediate approval or rejection of the applications.
However, it does signify progress in the application process and a positive step forward. The SEC will now enter a period of deliberation, which is estimated to last around 240 days.
During this time, the regulatory body holds the authority to make decisions on the funds, including approving, denying, or postponing a decision, as suggested by analysts.
