TechCrunch reporter Jacquelyn Melinek posted a statement at January 5th updating its expected timeline for spot approvals of Bitcoin ETFs.
Melinek previously said she had spoken to sources and was “expecting something” on Friday, without explicitly saying there would be an approval.
Today she postponed the expected date in a post on X and wrote:
“I’m hearing similar/new updates on spot bitcoin ETF… Approvals could now be next week, but ‘no definitive timing.’ Because a lot of work is done behind the scenes, the [government] moves at their own pace, so things move more slowly.”
Melinek wrote specifically about the postponed date:
“I said I was ‘expecting something’ based on the information from close sources and I followed up again to verify when I could today. Things change unfortunately. I have no control over that.”
Melinek added that issuers will likely complete their 19b-4 filings on Friday or Monday and that these filings will be made public soon.
These 19-b4 filings cover the rule changes required for exchanges such as Nasdaq, NYSE Arca and Cboe BZX to list any spot Bitcoin ETF. As of 8:00 PM UTC on January 5, the US Securities and Exchange Commission (SEC) had not published the relevant updates on its national securities exchange page.
January 10 remains the deadline for decision-making
Two other high-profile commentators also updated their predictions today, suggesting the approval process is in its final stages.
Fox Business reporter Eleanor Terrett, who previously suggested a possible approval on Friday, said applicants will likely file 19-b4 applications today and added that she now expects an ETF to be approved next week. Bloomberg ETF analyst James Seyffart, who originally predicted approval on Jan. 10, wrote that he “still expects potential approval orders next week.”
The SEC must decide on a joint filing by Ark Invest and 21Shares by Wednesday, January 10. Although the SEC could potentially reject this ETF, many commentators believe the SEC will approve this and other applications.
The optimism surrounding approval is due to extensive meetings between the SEC and ETF applicants, frequent changes of applicants, and applications from major asset managers such as BlackRock and Fidelity.