Invesco Galaxy Bitcoin ETF Now Updated To Form S-1 To Respond To The SEC

Key Points:

• Invesco updates the Invesco Galaxy Bitcoin ETF prospectus following the SEC’s inquiries, aligning with Ark Invest’s recent revisions.
• The SEC’s outreach to ETF issuers spurs comprehensive updates in the ETF landscape.
• Invesco’s move to address the SEC’s concerns reflects an ongoing dialogue between regulators and ETF issuers.

Invesco Galaxy has joined the ranks of firms updating the Invesco Galaxy Bitcoin ETF prospectus in response to recent inquiries from the US Securities and Exchange Commission (SEC). This development comes shortly after Cathie Wood’s Ark Invest also made revisions to its ETF documents.

Invesco Galaxy Bitcoin ETF Prospectus Updated in Response to SEC Inquiry

The SEC recently reached out to potential issuers with questions regarding their S-1 forms, sparking a wave of updates in the ETF landscape. Invesco Galaxy has taken the initiative to address the SEC’s concerns with comprehensive adjustments to the Invesco Galaxy Bitcoin ETF S-1.

While the market anticipates similar moves from other applicants, the SEC’s final verdict on these filings remains pending. Nevertheless, this interaction between regulatory authorities and issuers is an encouraging sign of progress.

Ongoing Dialogue Between Regulators and Issuers Amid Pending SEC Verdict

Notably, Ark Invest’s adjustments to the Spot BTC ETF S-1 were characterized as broad rather than substantial, encompassing language refinements, additional context, and enhanced risk disclosures.

In June, Invesco, boasting $1.4 trillion in assets under management, re-submitted its application for a spot Bitcoin ETF in collaboration with Galaxy Digital. The company initially filed for the Invesco Galaxy Bitcoin ETF in 2021, concurrently with Galaxy, and also pursued a Bitcoin futures ETF. However, the latter effort was abandoned in October 2021 after ProShares received approval and began trading.

The SEC’s decision not to appeal a recent court ruling in favor of Grayscale Investments has raised the possibility of dialogue commencing as early as the week starting October 16. This development was suggested by analysts and ETF specialists, signaling a potential breakthrough in the regulatory landscape.

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