A potentially historic week for Bitcoin is about to commence, with the possible approval of spot Bitcoin exchange-traded funds (ETF). Issuers are expected to finalize their S-1 amendments on Monday. Asset managers are anticipated to amend their spot Bitcoin ETF filings by 8:00 am ET, or 01:00 pm UTC, on Jan. 8. This follows the filing of 19b-4 amendments to their applications by 11 asset managers on Jan. 5.
The expected S-1 amendments will likely include information about fees or identities of the market-makers for the potential spot Bitcoin ETFs. These details align with information obtained by Bloomberg ETF analyst Eric Balchunas, who predicted that the final S-1s will be filed on Jan. 8. Balchunas noted that the United States Securities and Exchange Commission (SEC) has been preparing for a Jan. 11 launch, although this timeline has not been officially confirmed by the SEC.
These anticipated S-1 amendments will join numerous S-1 updates filed by multiple spot Bitcoin ETF applicants over the past few months. The community had previously expected the potential issuers to finalize their S-1 amendments by late December 2023. After the amended S-1 filings have been made, multiple issuers expect to receive final approvals of their applications by Jan. 9 or Jan. 10.
However, approval of S-1 filings alone does not mean the immediate launch of a specific spot Bitcoin ETF, as the SEC must approve both the S-1 filings and 19b-4 filings. Eleven of the asset managers who have applied for permission to launch a spot Bitcoin ETF filed 19b-4 amendments on Jan. 5. These filers included BlackRock, Valkyrie, Grayscale, Bitwise, Hashdex, ARK & 21Shares, Invesco & Galaxy, Fidelity, Franklin Templeton, VanEck and WisdomTree.
The SEC Form 19b-4 is used to inform the SEC of a proposed rule change by a self-regulatory organization under Rule 19b-4 under the Securities Exchange Act of 1934. The S-1 contains basic business and financial information on an issuer with respect to a specific securities offering, while the 19b-4 is intended to elicit information necessary for the public to provide comment on the proposed rule change. According to U.S. securities laws, the SEC review and approval or denial can take up to 90 days from when the 19b-4 form is officially filed.
The crypto community is eagerly awaiting the U.S. SEC’s decision on a spot Bitcoin ETF by Jan. 10. Cathie Wood’s investment firm ARK and its European partner 21Shares are first in line for the SEC’s decision on Jan. 10, with some analysts expecting multiple ETF approvals to happen in one day.
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | North America |
| Countries | 🇺🇸 |
| Sentiment | neutral |
| Relevance Score | 1 |
| People | Cathie Wood, Eric Balchunas |
| Companies | Franklin Templeton, VanEck, Reuters, BlackRock, Bloomberg, Fidelity, Bitwise, WisdomTree, ARK, 21Shares, Valkyrie, Grayscale, ARK & 21Shares, Invesco & Galaxy, United States Securities and Exchange Commission (SEC), Hashdex |
| Currencies | Bitcoin |
| Securities | None |
