SEC may approve spot Bitcoin ETF without public vote
According to Blockworks, the US Securities and Exchange Commission (SEC) may approve spot Bitcoin ETE without a public vote. The Securities and Exchange Commission's (SEC) next meeting is scheduled for Jan. 11, a day after the deadline to approve or reject the proposal
Ark and 21 Shares. Although Securities and Exchange Commission (SEC) meetings are published, Chairman Gary Gensler may choose to vote on Bitcoin ETF applications in a sequential manner, allowing votes to be collected without publicly calling a meeting.
Consecutive votes are passed one at a time to each committee member, with the question being passed to the next committee member after the previous one has voted. This process can be difficult because one
a member of the commission may withhold
consistent decision, effectively creating a “veto on the desk drawer.”
The commission sometimes decided not to
conduct voting on cryptocurrency ETFs, choosing instead to delegate authority
personnel to conserve resources.
