For a spot Bitcoin ETF to launch in the U.S., SEC approval is required for both the S-1 (or S-3) and 19b-4 forms submitted by the issuers. With these approvals, the industry eagerly awaits the commencement of trading for these ETFs.

In a related development, Senators J.D. Vance and Thom Tillis have sought SEC Chair Gary Gensler's report on a cybersecurity breach involving the SEC's X account. The incident raised "serious concerns" about the commission's internal cybersecurity procedures. The senators set a deadline for Gensler's report by January 23, emphasizing the mandate for businesses to disclose the impacts of a cybersecurity incident within four days.

The cybersecurity incident occurred on January 9 when the SEC's X account shared a false tweet suggesting the approval of spot Bitcoin ETFs in the U.S. Gensler later disclosed that the SEC's X account was compromised, leading to the unauthorized tweet. An internal investigation revealed that the SEC account did not have two-factor authentication enabled at the time of the breach.