BlackRock and Bitwise File Revised Spot Bitcoin ETF Applications

• BlackRock has entered the fray with the submission of an S-1 amendment.
• In addition, Bitwise’s spot Bitcoin ETF has also undergone a second S-1 revision.

Spot Bitcoin ETF applicants are still on high alert as of Monday night, when BlackRock and Bitwise filed a new ETF S1 prospectus. This change occurred during the week’s strong start, when the price of Bitcoin surged beyond $42,000.

Bloomberg ETF Strategist James Seyffart recently updated his readers on the progress being made toward a spot Bitcoin ETF. Financial sector heavyweight BlackRock has entered the fray with the submission of an S-1 amendment. It seems that the U.S SEC is working together on this, as they have been sending out identical directives to a number of issuers.

In addition, Bitwise’s spot Bitcoin ETF has undergone a second S-1 revision. The complexity of negotiating regulatory routes is reflected in the continuous interactions between issuers and the SEC. The ongoing changes and contributions show that everyone is working together and trying to resolve issues.

All Eyes on SEC

The specifics of these changes have not been announced just yet, but the rush of activity indicates that regulatory authorities and issuers are working together to get Bitcoin ETFs approved.

Applicants are putting in a lot of work to get closer to the objective, despite the complicated regulatory framework, according to these developments. Meeting with Grayscale, BlackRock, and other candidates about the Bitcoin ETF was only two days before.

Eric Balchunas, another analyst at Bloomberg, also revealed that BlackRock has already contributed $100,000 in preliminary funding for their Bitcoin ETF. However, the U.S SEC is known to delay as witnessed in the recent past. Now all eyes are on the SEC as investors expect a huge rally once the spot Bitcoin ETF is approved.

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