The Latest Breaking News from Eric Balchunas

SEC officials reportedly informed issuers that those who were not able to meet the deadline set by the commission would not be included in the "first wave" of approvals scheduled in the early part of January.

This detail was first caught by Bloomberg Intelligence ETF analysts, and for Eric Balchunas, it highlights the big bump from the $100,000 BlackRock seeded to the fund in October, as well as the timeline for when the firm plans to seed it again.

In its recent filing, the spot Bitcoin ETF registration underlined that it will only use cash creations in response to the SEC's instruction to use the cash redemption model.

BlackRock once again sat with some SEC officials — something it appears to have been doing regularly over the past weeks as anticipation for the possible SEC decision on spot Bitcoin ETF applications heightens.

The recent development suggests that the SEC could be ironing out details before finally approving some spot Bitcoin ETF applications.

After BlackRock submitted another amended prospectus last week, VanEck followed suit with its fifth amendment, showing a unique Bitcoin ETF ticker, HODL.

While BlackRock's Bitcoin ETF listing pushed the value of Bitcoin to a new high, Fidelity's listing did not have the same impact on the price of the "king of crypto."

The ongoing discussions include "substantive details, some of which are usually discussed near the end of an ETF application process," a report has claimed.

Industry experts and ETF analysts scrutinized the amended prospectus and discovered that BlackRock had seeded its ETF on Oct. 27. It was the same month when the crypto community found the Bitcoin ETF ticker of the firm listed on the website of the Depository Trust and Clearing Corporation.