BREAKING: BlackRock Updates Bitcoin Spot ETF Application

According to breaking information, BlackRock has submitted an updated version of the Bitcoin Spot ETF S-1 filing to the SEC.

Bloomberg analysts had reported that negotiations between the SEC and BlackRock and other Bitcoin Spot ETF applicants were continuing.

Similarly, Bitwise made a change in its application to the SEC a few hours ago. According to analysts, these updates show that the companies that applied with the SEC before approval are in intense negotiations.

While the SEC requires that the cash method, which is a spot ETF application similar to futures transactions, be preferred in order for applications to be accepted, applicants insist on the in-kind method that will hold Bitcoin directly.

Bloomberg analysts report that there is a 90% chance that Bitcoin Spot ETFs will be approved by January 10. Recent developments and postponements indicate that BTC spot ETF decisions will be made collectively by the SEC, including all applicants.

BTC price has exceeded the $ 42,000 level at the time this article was written, in anticipation of the spot ETF.

Bloomberg cryptocurrency analyst James Seyffart said the following about BlackRock’s Bitcoin Spot ETF application update in his comment on X:

“Updates keep coming. Bitcoin ETF S-1 amendment came from BlackRock tonight. Apparently the SEC issues the same or very similar instructions to multiple applicants.

What does it mean? Without reading the details, it just means that the wheel is still turning. Both the SEC and these applicants are working hard to get things right. “These applications are likely the result of many discussions and a lot of work on both sides.”

*This is not investment advice.