A number of companies have submitted their final applications for a spot Bitcoin exchange-traded fund (ETF) to the United States Securities and Exchange Commission (SEC) on December 29. Invesco Galaxy, Bitwise, WisdomTree, and Fidelity were among the companies that submitted their applications, following BlackRock, Van Eck, and Valkyrie. Fidelity, WisdomTree, and Invesco Galaxy have announced their authorized participants, with Invesco Galaxy selecting Virtu and JPMorgan, while WisdomTree and Fidelity have chosen Jane Street Capital.
Despite the SEC’s urging to switch to cash, WisdomTree has decided to maintain in-kind share creation and redemption. In addition, there seems to be a price war among the competitors, with Invesco Galaxy waiving its fee for the first six months and the first $5 billion in assets, while Fidelity has set its fee at 0.39%. Bitwise has yet to name its authorized participants, but it has mentioned that an unnamed party is interested in purchasing up to $200 million in shares of the ETF.
Various companies, including BlackRock, Van Eck, Grayscale, Bitwise, WisdomTree, Invesco Galaxy, Fidelity, ARK Invest, Valkyrie, Franklin, Hashdex, Global X ETFs, and Pando Asset, have submitted S-1 applications for spot Bitcoin ETFs. The SEC had set December 29 as the deadline for spot BTC ETF S-1 amendments. Grayscale made its last submission on December 27, converting its Grayscale Bitcoin Trust into a cash-only spot ETF, following similar moves by Van Eck and BlackRock.
It is worth noting that Barry Silbert, the founder and CEO of the Digital Currency Group, which is under SEC investigation, recently resigned from the board of directors.
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | North America |
| Countries | 🇺🇸 |
| Sentiment | neutral |
| Relevance Score | 1 |
| People | Barry Silbert |
| Companies | Van Eck, Invesco Galaxy, Bitwise, ARK Invest, BlackRock, Global X ETFs, Jane Street Capital, Grayscale, Franklin, Hashdex, Fidelity, Valkyrie, WisdomTree, Pando Asset |
| Currencies | Bitcoin, US Dollar |
| Securities | None |
