Spot Bitcoin ETF issuer files new AP disclosure with SEC
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At least 17 updated documents related to spot Bitcoin ETFs have been submitted to the SEC in the past 24 hours, with experts reiterating the high odds of approval.
A handful of spot Bitcoin ETF issuers have submitted applications amended The parties filed Forms S-1 and S-3 with the U.S. Securities and Exchange Commission (SEC) after receiving a series of feedback as the company ramps up preparations in anticipation of approval.
BlackRock, VanEck, Valkyrie, ARK 21Shares, Grayscale and Invesco Galaxy had submitted updated documents as of press time. The outstanding revisions are expected to be completed by January 9 before the January 10 deadline for a decision.
The changes filed on Jan. 9 are minor and include new wording on authorized participant risks, counterparty insolvencies, possible conflicts of interest and potential temporary liquidity shortages. According to editorial, four companies – Bitwise, Inscesco Galaxy, Wisdomtree and Valkyrie – have also lowered their fees.
The Bitcoin (BTC) ETF issuer filed these final results after receiving a final round of feedback from the SEC. ETF Expert Eric Balciunas It was also noted that the rapid transition between the SEC’s comments and the company’s filings underscored the company’s urgency.
In addition to these S-1 and S-3 filings, several ETF providers, including Franklin Templeton, Hashdex, Wisdomtree and Bitwise, have also filed updated Form 19b-4s with the SEC. The form, titled “Proposed Rule Change,” if approved, would allow major U.S. exchanges such as Nasdaq to list spot Bitcoin ETFs.
The SEC reportedly received these amendments hours after the issuer disclosed its spot BTC ETF fees, with Bitwise offering the cheapest offer of 0.2%, down from the 0.24% originally stipulated. Additionally, as Wall Street heavyweights and cryptocurrency natives begin competing in the first U.S. spot Bitcoin ETF market, some companies plan to offer fee waivers for the first six to 12 months.
Public posts from SEC Chairman Gary Gensler X Optimism for approval was also fueled. Gensler issued cryptocurrency-related investor advice for the second day in a row.
