Asset management giant BlackRock filed an amended S-1 filing with the Securities and Exchange Commission for its proposed spot Bitcoin ETF on Monday, and Bitwise followed suit with a similar move.
Regulators have yet to approve a spot Bitcoin fund and have postponed all applications received so far, but analysts said the move could be a sign that discussions are underway.
“They’re just pouring in,” said Bloomberg Intelligence analyst James Seyffart. wrote on. “There are other seats #bitcoin BTC
+4.38%
“The wheels are still turning,” Seyffart continued. “Both the SEC and the issuer are working hard to resolve the issues. These filings are likely the result of many conversations between the two sides and a lot of staff time.”
updated language
The updated BlackRock filing includes new language about the efforts trustees will take to monitor unusual price movements. We also added language regarding anti-money laundering compliance and included an audit statement from PricewaterhouseCoopers.
“Sponsors and Trusts only interact with known third-party service providers (e.g. Authorized Participants, Market Makers, Prime Brokers) with whom Sponsor or its affiliates have engaged in a due diligence process to ensure a thorough KYC process and Bitcoin custodians. (Bitcoin Custodian),” the updated filing reads.
Bitcoin soars amid speculation that the SEC is finally preparing to approve a spot fund. The world’s largest cryptocurrency by market capitalization has surged 20.6% over the past month and is currently trading below $42,000.
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About the author
Anna is a senior policy reporter and assistant editor at The Block. She has a background in political journalism and has covered Russian civil society for various media outlets in Moscow, including her award-winning newspaper, Novaya Gazeta. Before joining The Block, Anna spent the last five years at CoinDesk, researching global cryptocurrency policy and adoption. Anna says she owns Bitcoin and gift NFTs that have sentimental value.