Asset managers BlackRock, Valkyrie, and Van Eck have submitted amended S-1 forms to the United States Securities and Exchange Commission (SEC) for the creation of Bitcoin exchange-traded funds (ETFs). The forms were revised on the final day for the SEC to consider them in January 2024.
In its revised application, Van Eck stated that authorized participants will only deliver and receive cash when creating or redeeming shares, aligning with the SEC’s preference. BlackRock, on the other hand, named Jane Street and JPMorgan Securities as authorized participants in its proposed spot Bitcoin ETF application, emphasizing its cash-only model.
BlackRock initially filed for a spot BTC ETF in June, followed by Valkyrie a week later. Representatives from both asset managers held meetings with the SEC in December. Bloomberg ETF analyst Eric Balchunas commented on BlackRock’s amendment, suggesting that it may have a good chance of being granted SEC approval.
According to Balchunas, the SEC is expected to make a decision on the outstanding spot Bitcoin ETF filings by January 10, 2024. If approved, trading would likely begin shortly thereafter. Valkyrie also appointed authorized participants in its updated S-1, including Jane Street Capital, Cantor Fitzgerald, and StoneX Financial as its lead market maker.
Several other asset managers, including Grayscale, Bitwise, WisdomTree, Invesco, Galaxy, Fidelity, ARK Invest, Franklin, Hashdex, Global X ETFs, and Pando Asset, have also submitted S-1 applications for spot Bitcoin ETFs.
Overall, the submission of amended S-1 forms by these asset managers indicates their continued efforts to gain SEC approval for Bitcoin ETFs, with the expectation of potential records being broken if approved.
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | North America |
| Countries | 🇺🇸 |
| Sentiment | very positive |
| Relevance Score | 1 |
| People | Brett Harrison, JPMorgan Securities, X Hall, Eric Balchunas, Jane Street |
| Companies | StoneX Financial, Hashdex, Cantor Fitzgerald, Bitwise, Global X ETFs, ARK Invest, BlackRock, Eric Balchunas, Jane Street, Invesco, Pando Asset, United States Securities and Exchange Commission, Franklin, Valkyrie, WisdomTree, Galaxy, Bloomberg, Van Eck, JPMorgan Securities, Grayscale, Fidelity |
| Currencies | Bitcoin |
| Securities | None |
