It is expected that SEC commissioners will vote on the 19b-4 documents submitted by ETF issuers next week. Typically, the approval of ETFs can be delegated to SEC staff without the need for commissioner voting. It is currently unclear whether SEC staff has provided additional feedback on all companies' 19b-4 applications.

In addition, issuers also need SEC to sign the final version of their S-1 document, which is the prospectus for the ETF. The approval of the 19b-4 and S-1 forms by the SEC may or may not be simultaneous, but typically the S-1 form is approved after the 19b-4 form. If both approvals are obtained, the ETF can start trading as early as the next working day after approval.

As previously reported by BlockBeats, 11 Bitcoin spot ETF applicants, including BlackRock, Valkyrie, Ark Invest, Fidelity, Bitwise, Grayscale, Hashdex, Invesco, WisdomTree, Franklin Templeton, and VanEck, have all submitted revised 19b-4 documents.