Business News Report
January 09, 2024

SEC Issues Supplementary Opinions on S-1 Applications, No Change in Plans Intended

SEC Issues Supplementary Opinions on S-1 Applications; No Change in Plans Intended

US Securities and Exchange Commission (SEC) issued supplementary opinions on pending Bitcoin ETF process applicants’ S-1 Forms. Companies in receipt of these documents have acknowledged that there is no indication of a shift in plans regarding the spot Bitcoin ETF process.

As reported by Fox Business journalist Eleanor Terrett, asset managers expressed confidence that the revisions are a routine aspect of the ongoing process, aimed at completing all necessary procedures before the final deadline on January 10th for spot Bitcoin ETF approval.

Earlier, Perianne Boring, founder and chief executive officer of the Chamber of Digital Commerce, shared on X (formerly Twitter) that the SEC has issued additional opinions on the pending applicant S-1. Bloomberg ETF analyst James Seyffart subsequently validated this information, stating that further amendments are expected tomorrow. He expressed confidence that this additional opinion does not signify any delay in the process.

Prominent investment firms, including Valkyrie, Bitwise, Grayscale, Invesco, BlackRock, ARK 21Shares, VanEck and WisdomTree, recently submitted updated Bitcoin spot exchange-traded fund (ETF) S-1 Forms. These filings offer insights into the proposed fee structures by each entity, providing a clearer understanding of their competitive positioning within the evolving cryptocurrency market.

If approved, these proposed fee structures may significantly influence the landscape of Bitcoin spot ETFs, influencing investor decisions and market dynamics in the upcoming months.

The current list of issuers prepared to launch their Spot Bitcoin ETF upon approval includes Grayscale, Ark 21Shares, BlackRock, BitWise, VanEck, WisdomTree, Invesco, Fidelity, Valkyrie and Franklin Templeton.

Investment Firms Fine-Tune Spot Bitcoin ETF Details

Issuers have been working on refining the specifics of potential Spot Bitcoin ETFs in recent weeks.

Recently, Grayscale, Ark Invest, Valkyrie, and VanEck have submitted Form 8-A to the SEC – a registration that enables issuers to trade on an exchange once the product receives approval. This move followed Fidelity’s prior submission of Form 8-A preceding the S-1 application.

The S-1 Form is expected to progress during this week before the final deadline.

Amidst evolving regulatory processes, investment firms eagerly await the final verdict on Bitcoin spot ETFs, with ongoing refinements in fee structures and procedural submissions defining the industry’s trajectory in the coming weeks.

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Alisa is a reporter for the Metaverse Post. She focuses on investments, AI, metaverse, and everything related to Web3. Alisa has a degree in Business of Art and expertise in Art & Tech. She has developed her passion for journalism through writing for VCs, notable crypto projects, and scientific writing. You can contact her at [email protected]

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Alisa Davidson
Alisa Davidson

Alisa is a reporter for the Metaverse Post. She focuses on investments, AI, metaverse, and everything related to Web3. Alisa has a degree in Business of Art and expertise in Art & Tech. She has developed her passion for journalism through writing for VCs, notable crypto projects, and scientific writing. You can contact her at [email protected]

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