Sources: SEC may begin notifying issuers of approvals on Friday and trading could begin as early as next week

Citing sources from FOX Business, SEC lawyers from the trading and market departments will meet with officials from major exchanges - the New York Stock Exchange, Nasdaq, and the Chicago Options Exchange on Wednesday. These exchanges will be the venues for ETF trading.

It is understood that the meeting is seen as a positive signal, indicating that the SEC is approaching approval of some or all of the dozens of product applications submitted by major currency managers and cryptocurrency companies, according to anonymous company sources. Specifically, the SEC is requesting that the exchanges modify and ultimately determine the so-called 19b-4 documents, which are submitted by the exchanges on behalf of the issuer and must be approved by the SEC before the ETF is sold to the public.

Although the final decision has not yet been made, sources say that the SEC may begin notifying issuers of approval as early as Friday, with trading potentially starting as early as next week. ETF analysts and issuers are unanimous in believing that the SEC will make a favorable decision by January 10th or earlier, as the SEC continues to meet with key participants on this matter.