The U.S. Securities and Exchange Commission (SEC) has filed critical documents related to pending spot Bitcoin exchange-traded funds (ETFs). The filings initiate proceedings to determine whether proposed rule changes for these ETFs should be approved or rejected. The SEC is seeking public comments on various aspects of these ETFs, such as their susceptibility to fraud and market manipulation, the characteristics of Bitcoin, the effectiveness of surveillance-sharing agreements, and the size and correlation of Bitcoin spot markets with regulated markets like the Chicago Mercantile Exchange (CME) Bitcoin futures market. Multiple ETF proposals from BlackRock, Valkyrie, Invesco Galaxy, and Bitwise are included in the filings. The extensive information sought by the SEC may extend the proceedings, potentially leading to delays or rejections of the proposals. It’s important to note that these filings do not explicitly delay the SEC’s decision on the applications. Readers are advised to exercise caution and seek expert advice due to the risks associated with crypto investments.
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