Bitcoin ETF Issuers Await SEC Approval with Amended S-1 Applications

Several individuals who applied for a spot Bitcoin exchange-traded fund (ETF) hurriedly submitted their final Form S-1 modifications to the United States Securities and Exchange Commission (SEC) on Monday, January 8.

Several organizations, including asset management Valkyrie, submitted their final S-1 modification before January 10, the anticipated date for the United States to approve the first spot Bitcoin exchange-traded funds (ETFs).

WisdomTree, BlackRock, VanEck, Invesco, Galaxy, Grayscale, ARK Invest, and 21Shares came in second and third overall, respectively, after Valkyrie. Because the optimistic issuers are anticipated to finalize their Form S-1 revisions today, the fresh filings mark the beginning of a potentially historic week for Bitcoin.

The modifications to the S-1 form include information on fees and the identities of market makers for potential exchange-traded funds (ETFs). To facilitate trading of their possible spot Bitcoin ETF products, a few of the filers have dramatically reduced their costs.

The ETF sponsor, based on the most recent S-1 filing from ARK & 21Shares, announced that it will waive its 0.25% fee for the first one billion dollars in transactions occurring during the six months beginning on the day the ETF is listed.

After the initial cost of 0.2%, the Bitcoin exchange-traded fund (ETF) offered by BlackRock will charge 0.30% for the first six months, or $5 billion in transactions.

Eric Balchunas, an analyst for Bloomberg ETFs, believes that the ongoing fee battle between alternative spot Bitcoin exchange-traded funds (ETFs) is not likely to result in significant changes to the level of competition at this point.

In the past, this has not had much of an impact on the situation. Because they are long-term investors, advisors concentrated on maintaining regular fees.

Having said that, considering that all of these exchange-traded funds (ETFs) perform the same function, it may be significant if everything else remains the same.

We shall see,” Balchunas remarked on X (which was formerly known as Twitter).