Representatives from BlackRock, Grayscale, Franklin Templeton and Fidelity met last week with US Securities and Exchange Commission (SEC) officials to discuss their proposals for launching spot Bitcoin ETFs.
As Bloomberg analyst James Seyffart has said, these meetings were attended by employees from the regulator's trading and markets department as well as its corporate finance department.
He has explained:
"Those are the two divisions that will ultimately decide if & when the 19b-4's & S-1's would be approved or denied."
Fellow analyst Eric Balchunas has shared the analyst's enthusiasm:
"Damn, the SEC is busier than Santa's elves. BlackRock's third meeting with them yesterday is the most notable IMO as everyone is waiting to see if they can convince SEC to allow in-kind creations in the first run of approvals."
The first meetings took place in November.