SEC lists eight updated 19b-4 filings as spot Bitcoin ETF process nears deadline

The U.S. Securities and Exchange Commission (SEC) began to people notices of filing updates related to spot Bitcoin ETFs connected Jan. 8.

As of 10:45 p.m. UTC, the SEC’s national securities exchange leafage listed amendments to 8 19b-4 filings detailing projected regularisation changes.

Six of those updated filings interest projected regularisation changes done which the Cboe BZX speech intends to database and commercialized ETFs from WisdomTree, VanEck, Ark Invest, Franklin Templeton, Fidelity, and Invesco Galaxy. Another amendment concerns a projected regularisation alteration done which NASDAQ intends to database and commercialized Valkyrie’s Bitcoin ETF. One different concerns a projected regularisation alteration done which NYSE Arca intends to database and commercialized Hashdex’s ETF.

Currently, determination are astir 1 twelve applicants seeking a spot Bitcoin ETF, meaning that different amendments whitethorn get later.

The latest amendments mostly code erstwhile issues including concerns astir whether applicable markets are of a important size, the inclusion of surveillance-sharing agreements, and prevention of marketplace manipulation.

Each announcement indicates that exchanges submitted the applicable amendment to the SEC connected Friday, Jan. 5. Earlier reports from Bloomberg suggested a akin timeline successful beforehand of expected approvals astir Wednesday, Jan. 10.

S-1 amendments besides arrived Monday

Several spot Bitcoin ETF applicants additionally submitted amended registration statements including S-1/A and 8-A12B forms connected Jan. 8.

BlackRock’s latest S-1 update notably emphasizes a deficiency of contiguous in-kind creations and redemptions, which would person allowed definite ETF transactions to beryllium carried retired with Bitcoin alternatively of cash. It wrote:

“The timing of the In-Kind Regulatory Approval is unknown, and determination is nary warrant that NASDAQ volition person … Approval astatine immoderate constituent successful the future. If NASDAQ receives the In-Kind Regulatory Approval and if the Sponsor chooses to let in-kind creations and redemptions, the Trust volition notify the owners of the beneficial interests of Shares …”

S-1 registration statements from BlackRock and different firms besides incorporate caller accusation including fee and seed funding details.

Most firms submitted astir finalized S-1 amendments connected oregon earlier a Dec. 29, 2023 deadline. As such, the latest amendments bash not importantly alteration the operation of each exertion and alternatively chiefly adhd details.

The station SEC lists 8 updated 19b-4 filings arsenic spot Bitcoin ETF process nears deadline appeared archetypal connected CryptoSlate.