Spot Bitcoin exchange-traded fund (ETF) applications from several firms have been published in the Federal Register, moving them one step along in the United States Securities and Exchange Commission’s (SEC) process.

According to records updated July 19, the Federal Register received notices of proposed rule changes allowing Bitcoin

Publication in the Federal Register was an expected step following the initial filing of the applications in June. Exchanges representing the firms filed amended applications naming crypto firm Coinbase as a surveillance-sharing partner following reports the SEC considered the previous filings insufficient.

The five applications followed one from Bitwise published in the register on July 18, with a spot BTC ETF application from Valkyrie expected on July 21. These dates give the SEC an initial window of 45 days to reach a decision, but the commission has the option of extending the process for up to 240 days — until March 2024 — for final approval or denial.

Related: Grayscale lawyers refer to SEC allowing Volatility Shares’ investment vehicle in push for ETF

To date, the SEC has not approved a spot investment vehicle with direct exposure to cryptocurrencies like BTC but began allowing ETFs linked to BTC futures starting in 2021. In June, the Volatility Shares Trust launched a leveraged Bitcoin futures ETF , one of the first of its kind in the United States.

The SEC has been under scrutiny from fellow regulators, lawmakers and members of the public amid a federal court ruling suggesting the XRP

Magazine: SEC calls ETF filings inadequate, Binance loses euro partner and other news: Hodler’s Digest, June 25 – July 1