All Spot Bitcoin ETF Applicants Submit Final Form S-1 Amendments to SEC
All applicants for a spot Bitcoin exchange-traded fund (ETF) have submitted their final Form S-1 amendments to the United States Securities and Exchange Commission (SEC). The deadline for submission was set for January 8. Leading the pack, Valkyrie submitted its final S-1 amendment well ahead of the speculated January 10 date, which many industry insiders believe could see the first approvals of spot Bitcoin ETFs in the US. Other major players such as WisdomTree, BlackRock, VanEck, Invesco, Galaxy, Grayscale, ARK Invest, 21Shares, Bitwise, Franklin Templeton, and Hashdex have also completed their submissions. The last step before approval is the SEC voting on the 19b-4s filings in the coming days.
Spot Bitcoin ETF Fee War Begins
The S-1 amendments are crucial as they disclose information about fees for potential ETFs. Several filers have significantly lowered fees for trading their potential spot Bitcoin ETF products. Initially, BlackRock had the lowest fees but was undercut by Cathie Wood’s Ark Invest, which announced lower fees shortly after. Bitwise then submitted an even lower fee. VanEck also disclosed a fee of only 0.25%. Fee differences might play a more significant role this time due to the uniformity of services offered by these ETFs.
Hot Take: Bitcoin Price Reacts to Spot Bitcoin ETF News
Following the news of all spot Bitcoin ETF applicants submitting their final amendments and the fee reductions, the price of Bitcoin reacted with a 2% jump, rising as high as $45,300.
By
By
By
By