on bitcoin ETFs, the clock on the review process formally starts only when filings are published in the register. Initially, this sets a deadline of 45 days, but that can be extended to as long as 240 days.
The register is the daily gazette of the U.S. government and contains executive orders, federal agency regulations, proposed agency rules and other documents that, by law, have to published. While there is no guarantee the SEC will approve any of the applications, the filing by industry giant BlackRock has fueled speculation that permission is more likely.
Another bitcoin ETF application, the ARK 21Shares Bitcoin ETF, hit the Federal Register on May 15, and the SEC extended the approval deadline in June. Valkyrie’s spot-bitcoin ETF is not yet listed on the Federal Register but their application was accepted on Monday by the SEC, a spokesperson from Valkyrie said.Sheldon Reback and Nick Baker.