The U.S. Securities and Exchange Commission (SEC) is expected to approve or reject at least one spot Bitcoin ETF this week, amid a 60% rise in the largest cryptocurrency over the past three months. The consensus is that the SEC may approve multiple spot Bitcoin ETF applications simultaneously to level the competitive playing field. Among the 13 companies awaiting approval are industry giants such as BlackRock, Invesco & Galaxy, Fidelity, Grayscale, ARK, Bitwise, and VanEck, which continue to update their ETF applications guided by SEC regulations.
In preparation for SEC approval, six ETF issuers, including Valkyrie, WisdomTree, Invesco & Galaxy, and BlackRock, have recently submitted updated versions of their S-1 forms for spot Bitcoin ETFs. These forms are essential for registration with the SEC and provide detailed information about the ETF’s purpose, operations, portfolio components, risk factors, and other critical details.
The submission of updated S-1 forms by companies such as VanEck, Valkyrie, BlackRock, Invesco & Galaxy, ARK, and WisdomTree signifies the finalization of their ETF applications. With 13 companies in total awaiting SEC’s decision, the remaining seven are also expected to submit their updated S-1 forms shortly.
Experts suggest that with these latest updates, the companies’ ETF applications have reached their final form, and the decision now rests with the SEC. The outcome of this decision is highly anticipated as it could significantly impact the cryptocurrency market and investment landscape.
The S-1 form is a registration statement that indicates an issuer’s intent to go public and is used by ETF issuers to propose the creation and public offering of an ETF. It provides investors and regulators with necessary information to make informed decisions and evaluate the ETF’s suitability.