BlackRock and Bitwise file revised S1 forms with the SEC
Asset management giant BlackRock and cryptocurrency investment company Bitwise have both submitted revised S1 forms to the US Securities and Exchange Commission. These updates address additional questions likely posed by the SEC following previous meetings. According to James Seyffart from Bloomberg Intelligence, these filings indicate that both parties are actively working to resolve issues.
BlackRock’s updated application includes several changes, ranging from security and risks to disclosures and the Trust structure. In total, there have been 21 notable modifications in BlackRock’s latest update. These changes include potential regulatory impacts on the ETF and navigating the regulatory landscape of other jurisdictions such as the UK and EU.
Imminent SEC decision
The SEC is about to make a decision regarding the approval of one or more Bitcoin spot ETFs between January 5th and 10th. Analysts predict a 90% chance of approval. This decision is highly anticipated by the cryptocurrency community as it could signal a major shift in the acceptance of digital assets in traditional financial markets.
BlackRock and Bitwise’s actions, along with those of the 11 other applicants including Fidelity, VanEck, Franklin, and WisdomTree, who are expected to follow with their own updates, demonstrate a concerted effort to align their ETF proposals with regulatory requirements. This period is crucial for the future of Bitcoin spot ETFs and could mark a turning point in the integration of cryptocurrencies into traditional financial structures.
