The wait for the approval of a spot bitcoin (BTC) exchange-traded fund (ETF) in the United States could be coming to an end. This was stated by Steven McClurg, chief investment officer of Valkyrie, one of the applicant companies.

The executive specified that the U.S. Securities and Exchange Commission (SEC) could give the go-ahead for certain ETFs later this month.

The acceptance of the ETFs would be the result of discussions the companies have had with the regulator and hope to continue in the coming weeks, McClurg said.

The dialogue between the parties was confirmed by Gary Gensler himself, chairman of the SEC, two weeks ago, when he said that the Division of Corporate Finance was doing the work of giving feedback, while the Division of Trading and Markets was in charge of analyzing the filings

Valkyrie's senior executive commented that ETF applications with rule 19b-4 changes would be approved first. Form 19b-4 is used to inform the SEC of a rule change proposed by a self-regulatory organization (SRO) pursuant to the Securities Exchange Act of 1934. An SRO is a non-governmental body that exercises some degree of regulatory authority over an industry, in this case the New York Stock Exchange (NYSE).

Valkyrie was one of the companies that made those changes in its application to the U.S. regulator. The company made the modifications on October 31.

"Before anything else happens, we get a second round of feedback, and I think we'll probably get it in the next one to three weeks," McClurg said.

Regarding a possible date for the start of ETF trading, McClurg commented that: "an approval at the end of November will likely mean a launch in February."