BlackRock & VanEck File Updated S-1 for Bitcoin ETF Approval

Black Rock

BlackRock and VanEck submitted revised S-1 forms to the US SEC for spot Bitcoin ETF approval ahead of the impending deadline. This move underscores their commitment to meeting regulatory requirements and signals anticipation in the crypto community for potential ETF approval.

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The SEC’s decision holds significant implications for the broader adoption of Bitcoin and other cryptocurrencies.

BlackRock and VanEck took a significant step on Tuesday by submitting revised S-1 forms to the U.S. Securities and Exchange Commission (SEC) for the approval of their spot Bitcoin ETFs. The crypto community is closely watching as the SEC is expected to make a decision on the effectiveness of these S-1 forms by Wednesday. If approved, it could mark a crucial development in the long-awaited introduction of spot Bitcoin ETFs in the U.S.

Spot Bitcoin ETF Issuers Align with SEC Comments for Approval

In the latest filings submitted by BlackRock and VanEck, issuers of spot Bitcoin ETFs are aligning with the recent comments provided by the U.S. Securities and Exchange Commission (SEC) for the approval of spot Bitcoin ETFs. The issuers are committed to addressing SEC concerns, and as part of this effort, they will submit multiple S-1 filings until the SEC declares the registration statements effective.

Notable modifications in the filings include updates on potential shareholder harm in the event of insolvency and measures to prevent conflicts of interest among authorized participants in the ETFs.

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Eric Balchunas, a senior ETF analyst at Bloomberg, highlighted the swift turnaround time in the filing process, indicating a collective effort to expedite the approval process. He noted, “Hard to tell what has changed at first glance, but imp thing is that the unheard of 24hr turnaround time bt filing, comments and re-filing tells us all parties aiming to get this show on road pronto.”

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Imminent Approval for Spot Bitcoin ETFs as SEC Responds Swiftly

The path for most spot Bitcoin ETFs to commence trading as early as Thursday morning seems to be clearing rapidly, with expectations that some S-1 filings by issuers will receive immediate approval from the U.S. Securities and Exchange Commission (SEC).

The SEC demonstrated prompt responsiveness to the recent S-1 submissions from spot Bitcoin ETF issuers on Monday. Despite minor delays, experts emphasize the significance of the 19b-4 filings, considering them a crucial signal pointing toward imminent approval for spot Bitcoin ETFs.

Insiders familiar with the situation suggest positive and constructive discussions between the SEC and issuers, hinting at a probable approval announcement for spot Bitcoin ETFs on Wednesday, January 10.


Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

 

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