The prospect of a spot Bitcoin ETF (exchange-traded fund) trading in the United States has been the major topic of discussion in the cryptocurrency space over the past few weeks. In the latest development, a Bloomberg analyst reported that the US Securities and Exchange Commission has been engaging with exchanges concerning the spot Bitcoin ETF applications.
Here’s Why SEC Interacted With Exchanges This Week
On Friday, November 17, Bloomberg analyst Eric Balchunas provided an update on the potential approval of spot Bitcoin exchange-traded funds by the SEC. In a post on X, Balchunas claimed that the financial regulator is instructing the Bitcoin ETF applicants to handle funds in a certain way.
Eric Balchunas wrote on X:
Hearing chatter SEC’s Trading & Markets engaged with exchanges this week on spot bitcoin ETF 19b-4s, is advising them they’d like the ETFs to do cash creates (vs in-kind), and has asked them to get in amendments in the next couple weeks.
For context, “cash c
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