The U.S. Securities and Exchange Commission (SEC) has started to publish notices of filing updates related to spot Bitcoin ETFs. As of 10:45 p.m. UTC, the SEC’s national securities exchange page listed amendments to eight 19b-4 filings detailing proposed rule changes. Six of these updated filings concern proposed rule changes through which the Cboe BZX exchange plans to list and trade ETFs from WisdomTree, VanEck, Ark Invest, Franklin Templeton, Fidelity, and Invesco Galaxy.
Another amendment pertains to a proposed rule change through which NASDAQ plans to list and trade Valkyrie’s Bitcoin ETF. One other amendment is related to a proposed rule change through which NYSE Arca plans to list and trade Hashdex’s ETF. Currently, there are approximately a dozen applicants seeking a spot Bitcoin ETF, indicating that more amendments may be forthcoming.
The latest amendments primarily address previous issues, including concerns about whether relevant markets are of a significant size, the inclusion of surveillance-sharing agreements, and the prevention of market manipulation. Each notice indicates that exchanges submitted the relevant amendment to the SEC on Friday, Jan. 5. Earlier reports suggested a similar timeline in anticipation of expected approvals around Wednesday, Jan. 10.
Several spot Bitcoin ETF applicants also submitted amended registration statements, including S-1/A and 8-A12B forms on Jan. 8. BlackRock’s latest S-1 update notably emphasizes a lack of immediate in-kind creations and redemptions, which would have allowed certain ETF transactions to be carried out with Bitcoin instead of cash. It stated that the timing of the In-Kind Regulatory Approval is unknown, and there is no guarantee that NASDAQ will receive approval at any point in the future.
If NASDAQ receives the In-Kind Regulatory Approval and if the Sponsor chooses to allow in-kind creations and redemptions, the Trust will notify the owners of the beneficial interests of Shares. S-1 registration statements from BlackRock and other firms also contain new information, including fee and seed funding details. Most firms submitted nearly finalized S-1 amendments on or before a Dec. 29, 2023 deadline. As such, the latest amendments do not significantly change the structure of each application and instead mainly add details.
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | North America |
| Countries | 🇺🇸 |
| Sentiment | neutral |
| Relevance Score | 1 |
| People | None |
| Companies | Valkyrie, Ark Invest, NASDAQ, VanEck, Franklin Templeton, U.S. Securities and Exchange Commission, Cboe BZX exchange, Hashdex, WisdomTree, Invesco Galaxy, Fidelity, BlackRock, NYSE Arca |
| Currencies | Bitcoin |
| Securities | Ark Invest, Franklin Templeton, VanEck, WisdomTree, Fidelity |
