Exchanges Amend Filings Amid Revised Bids for Spot Bitcoin Funds From Asset Managers
The move by various spot Bitcoin exchange-traded fund (ETF) hopefuls to file amended applications prompted stock exchanges to follow suit. As such, different asset managers filed revised 19b-4 forms for proposed bitcoin exchange-traded funds, including Fidelity, Invesco, Grayscale Investments, BlackRock, ARK 21Shares, and Valkyrie.
The moves were considerable since market watchers had been anticipating revised filings before any Securities and Exchange Commission acceptance.
Stock Exchanges File Revised 19b-4 Forms.
Stock exchanges hurried to file fresh, revised 19b-4 forms for bids from asset managers such as Fidelity and BlackRock for spot Bitcoin exchange-traded funds (ETFs). This marks the most recent strategy as issuers attempt to move quickly toward the finish line to acquire consent from the Securities and Exchange Commission (SEC).
Towards the end of Friday, Invesco, Grayscale Investments, and ARK 21Shares submitted new filings for proposed funds. The Chicago Board Options Exchange (Cboe) BZX exchange filed forms for Pando Asset AG.
VanEck, Franklin Templeton, and WisdomTree. The strategies were considerable since market watchers had anticipated revised filings before any consent from the Securities and Exchange Commission. According to a source, 19-4 approvals might happen mid-to-late next week.
The proposed funds’ issuers would still require S-1s for them to be effective. In turn, this will aid in the unveiling of their products. Bitcoin remained mainly unchanged on this news. In this case, the price of the globe’s biggest cryptocurrency by market cap was reduced by 1.1% over the previous day to $43852 at 5.55 p.m. ET.
Crypto Community Awaits Regulator’s Consent
The crypto sector has shown increased interest in prevailing developments, awaiting approval from the Securities and Exchange Commission for a spot Bitcoin exchange-traded fund in the coming days.
Over the past year, asset managers like BlackRock, Infinity, and others have been competing for a spot in Bitcoin exchange-traded funds.
After the filings on Friday on X, James Seyffart, an ETF Research Analyst, claimed that despite not being over the finish line, they are pretty near.
