The SEC Has Engaged With Exchanges Over Spot ETFs’: Reports
In recent developments, Eric Balchunas, Bloomberg's senior ETF analyst, took to social media and opened up about the ongoing discussions between the U.S....
- Eric Balchunas, Bloomberg's senior ETF analyst, revealed that the SEC's Trading & Markets division has been engaged in discussions with exchanges regarding spot Bitcoin ETF applications.
- The SEC is advising exchanges to opt for cash creates instead of in-kind transactions and encouraging them to submit amendments in the coming weeks.
- This development is seen as a positive sign for the industry and resulted in an $800 spike in the price of Bitcoin.
- Initially, only a few filers planned to use cash creates, while the majority preferred in-kind transactions, which may require adjustments to adhere to the SEC's guidance.
The overall sentiment of the article is positive, as the engagement between the SEC and exchanges regarding spot Bitcoin ETF applications is seen as a sign of progress in the regulatory process.