US Bitcoin ETF Approval Edges Closer as Key Players Submit Final Documents

The much-anticipated approval of a Bitcoin Exchange-Traded Fund (ETF) in the United States is nearing fruition, as major players such as BlackRock, Grayscale, and 21Shares have submitted crucial 19b-4 amendments in response to the Securities and Exchange Commission’s (SEC) request. This marks a crucial stage in the approval process, hinting at possible unofficial approval. The next steps involve asset managers completing S-1 documents, potentially paving the way for US exchanges to list shares of investment securities linked to Bitcoin. Analysts expect the SEC to review the documents next week, with ETF trading potentially commencing the following Thursday if approved. Despite this positive development, the cryptocurrency market has shown limited excitement, with Bitcoin struggling to recover from recent declines and trading below $44,000. Other cryptocurrencies, including Solana and Ethereum, also exhibit cautious investor sentiment.(Source: Cryptopolitan)