Invesco submitted the latest S-1 form to the SEC, promising to issue Bitcoin spot ETFs only in cash
On December 14th, Invesco and Galaxy submitted their third amended Bitcoin spot ETF prospectus (S-1 document) to the US Securities and Exchange Commission (SEC), promising to focus on launching ETFs that are only created through cash for Bitcoin exchange trading.
Bloomberg ETF analyst Eric Balchunas pointed out that this is a clear signal that the SEC prefers cash creation methods for initial ETF product approval. Although the market is generally focused on whether BlackRock can convince the SEC to accept in-kind creation methods, according to internal sources, the SEC seems to only allow cash methods for the first batch of products.
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