As the U.S. Securities and Exchange Commission (SEC) inches closer to the spot Bitcoin ETF deadline, they recently published updated notices regarding 19b-4 filings, signaling significant advancements in the process.
Amendments and Filings:
The SEC's national securities exchange page revealed updates to eight 19b-4 filings, primarily focused on proposed rule changes for listing and trading ETFs.
Six filings pertain to proposed rule changes by Cboe BZX, aiming to list and trade ETFs from notable entities like WisdomTree, VanEck, Ark Invest, Franklin Templeton, Fidelity, and Invesco Galaxy.
Additional filings include proposals from NASDAQ for Valkyrie’s Bitcoin ETF and NYSE Arca for Hashdex’s ETF.
Ongoing Application Process:
Approximately a dozen applicants are vying for a spot Bitcoin ETF, indicating the possibility of further amendments in the future.
The latest amendments address previous concerns, focusing on market size, surveillance-sharing agreements, and strategies to prevent market manipulation.
Timelines and Submission Dates:
Exchanges submitted these amendments to the SEC on Friday, Jan. 5, aligning with earlier reports indicating potential approvals around Wednesday, Jan. 10.
S-1 Amendments and Updated Information:
In addition to 19b-4 filings, several applicants submitted amended registration statements (S-1/A and 8-A12B forms) on Jan. 8.
Notably, BlackRock's updated S-1 highlights the uncertainty surrounding immediate in-kind creations and redemptions, pivotal for specific ETF transactions involving Bitcoin.
These latest registration statements from various firms also disclose fee structures and seed funding details, offering a more comprehensive view of their proposed ETFs.
Overall, the ongoing submissions underscore the significance and anticipation surrounding the potential approval of a spot Bitcoin ETF by the SEC.