BlackRock and Bitwise File Updated Bitcoin ETF Filings with SEC
BlackRock and Bitwise have recently submitted updated filings for spot Bitcoin exchange-traded funds (ETFs) to the U.S. Securities and Exchange Commission (SEC). These amendments indicate significant progress towards the launch of Bitcoin ETFs.
BlackRock, the asset management giant, has filed an amended S-1 filing with the SEC for its proposed spot Bitcoin ETF. This demonstrates BlackRock’s ongoing commitment to introducing this highly anticipated product to the market.
Similarly, Bitwise, a major player in digital asset management, has also filed an amended application for its Bitcoin ETF. This aligns with Bitwise’s strategic efforts to meet the increasing demand from investors for listed crypto investment options.
“They’re Just Pouring In”
Bloomberg Intelligence ETF analyst James Seyffart commented on the influx of Bitcoin ETF filings, stating that “they’re just pouring in.” This indicates that progress is being made in the industry, although the exact details of these filings are yet to be examined.
Leading financial institutions like BlackRock and Grayscale have been engaging with the SEC regarding their Bitcoin ETF filings. A memorandum revealed that BlackRock and Nasdaq met with SEC officials on November 28 to address concerns and unanswered questions about their proposed In-Kind model design.
Bitcoin Price Surges Past $42,000
Bitcoin is currently trading at around $41,870, which represents a 13% increase from a week ago. On December 4, the price broke the $42,000 mark and rose by 6.6% within 24 hours. This surge brings Bitcoin back to levels last seen before the May 2022 Terra crash. Statista data shows that Bitcoin reached an all-time high price of $67,566.83 in November 2021.
Blockstream CEO Adam Back predicts that Bitcoin could reach an astonishing $700,000 within the next two years. He believes that Bitcoin will eventually surpass physical gold and become the preferred store of value.
Hot Take: BlackRock and Bitwise Push Forward with Bitcoin ETF Filings
BlackRock and Bitwise’s updated filings for spot Bitcoin ETFs with the SEC demonstrate their commitment to meeting the demand for regulated crypto investment products. These filings indicate progress in the industry, as financial institutions work closely with the SEC to address concerns and refine their proposals.
The surge in Bitcoin price, surpassing $42,000, further highlights the growing interest in cryptocurrencies and their potential as a store of value. With industry experts predicting even higher prices for Bitcoin in the future, it’s clear that digital assets are gaining momentum and becoming a significant part of the financial landscape.
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