On December 4, two companies, BlackRock and Bitwise, made adjustments to their S-1 filing requests for spot Bitcoin ETFs. Experts interpret this event as a positive signal indicating ongoing interaction between market participants and the regulator.
On December 4, 2023, two companies immediately amended their applications for registration of spot Bitcoin ETFs - BlackRock and Bitwise . Bloomberg Intelligence analyst James Seyffarth sees this as a positive sign.
“[...] the “wheel” continues to turn. Both the regulator and these issuers are working hard to resolve all controversial issues. These documents are the result of painstaking work and many man-hours spent on both sides,” the expert noted.
BlackRock made several significant changes to the application. In particular, the company added a report on the audit of the trust by the international company PricewaterhouseCoopers.
The document also included language on compliance with requirements for combating money laundering and the financing of terrorism. Additionally, BlackRock said an unidentified investor purchased $100,000 worth of "seed shares" priced at $25.
Bitwise, in turn, made mostly minor adjustments.
We previously reported that at the end of November 2023, a meeting took place between representatives of the US Securities and Exchange Commission (SEC) and BlackRock employees. The topic of discussion was probably a company trust.
Many experts believe the SEC will approve these exchange-traded funds in early 2024. At the same time, according to analysts, several issuers will receive permission at once.
