Companies filed a record amount of documents mentioning the word ‘Bitcoin’ with the Securities and Exchange Commission last month, according to data from The Block.
According to The Block research analyst Rebecca Stevens, there were 1,074 documents mentioning Bitcoin in November, a 35.1% increase from the same month last year. This is a 32.6% increase from the previous high of 810 in May of this year.
SEC filing mentioning “Bitcoin.”
In October, there were 527 documents mentioning Bitcoin, a 100% increase in November’s figure compared to the previous month. “But it’s not really a fair comparison because November is a quarterly earnings reporting month, so typically when crypto-related companies file their 10-Qs and 8-Ks, you see an increase in filings,” Stevens said.
The higher frequency of Bitcoin-related reports is not only a sign of greater adoption and awareness of cryptocurrencies in general, but also shows that many companies are interested in riding the ETF hype, the analyst said.
The hype is piling up
The frequent appearance of the word “Bitcoin” in SEC filings reflects enthusiasm in the broader cryptocurrency market as the industry speculates when regulators could approve the first spot Bitcoin ETF.
“Nearly 40 filings were filed by the Grayscale Bitcoin Trust, most of which were free writing prospectuses (FWPs), which related to public statements made by Grayscale executives ahead of a possible G. It appears to be.
BTC
+3.88%
Transition,” The Block’s Frank Chaparro said in his biweekly report on Tuesday. Scoop Newsletter.
“Regardless of the specifics, it shows that the world’s largest cryptocurrency asset is appearing in more regulatory filings,” he added.
The SEC currently has 13 applications for spot Bitcoin ETFs, including Franklin Templeton, Fidelity, BlackRock, and Grayscale.
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