Key Points:
Read more: Grayscale Spot ETF: Basic Knowledge and Positive Future Outlook
SEC updated 19b-4 filings on Friday, address previous concerns raised by the regulator, including the size and surveillance of underlying Bitcoin markets, and safeguards against market manipulation. Six amendments pertain to Cboe BZX listing and trading ETFs from WisdomTree, VanEck, Ark Invest, Franklin Templeton, Fidelity, and Invesco Galaxy.
In addition to rule changes, several applicants, including BlackRock, submitted amended registration statements (S-1 and 8-A12B forms) today. Notably, BlackRock’s update clarifies that in-kind creations and redemptions – transactions involving Bitcoin rather than cash – won’t be immediately available.
While today’s updates don’t fundamentally alter the initial applications, they provide crucial details on fees, seed funding, and other operational aspects. With most firms finalizing their submissions by the Dec. 29 deadline, the focus now shifts to the SEC’s imminent decision.
The potential launch of spot Bitcoin ETFs marks a landmark moment for the cryptocurrency industry. These products would offer investors exposure to Bitcoin through traditional brokerage accounts, potentially attracting significant inflows and boosting Bitcoin’s overall market capitalization.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
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