Bitcoin Spot ETF Timeline | Crypto Daily Digest July. 4

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BlackRock and Fidelity both have refiled the Bitcoin ETF application incorporating SEC's latest requirements. The final deadline for SEC to decide is February 2024.

Last Friday, the SEC told both Nasdaq and Cboe that their applications were "inadequate" because they didn't name the market that the fund sponsors are working with on their surveillance-sharing agreements. All applicants have now refiled their applications with SEC.

Cboe Refiles Fidelity Bitcoin ETF Application After SEC Deemed Prior Application Inadequate

Nasdaq Refiled for BlackRock's Spot Bitcoin ETF with Coinbase as Surveillance Partner

The regulator still has to formally acknowledge it is reviewing the applications. The SEC will kick off an initial 45-day review period when it publishes the filings in the Federal Register – the national logbook – but can extend this to a total of 240 days.

Assuming the application will be published in the Federal Register in recent days and starting the reviewing period, the final deadline for SEC will be until February 2024.

This is interesting timing, as Bitcoin's next halving is expected to happen in April 2024.

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