Spot Bitcoin ETF issuers file amended S-1 applications — Now await SEC approval
Multiple applicants for a spot Bitcoin ( BTC ) exchange-traded fund (ETF) have been rushing to file their final Form S-1 amendments to the United States Securities and Exchange Commission (SEC) on Monday, Jan. 8, as expected.
Asset manager Valkyrie was among the first companies to file its final S-1 amendment before Jan. 10, the widely expected date that the first spot Bitcoin ETFs to be approved in the United States.
Valkyrie was followed by WisdomTree, BlackRock, VanEck, Invesco and Galaxy, Grayscale, ARK Invest and 21Shares, Fidelity, Bitwise and Franklin Templeton.
The new filings open a potentially historic week for Bitcoin as the hopeful issuers are expected to finalize their Form S-1 amendments today. The S-1 amendments include information about fees or identities of the market makers for the potential ETFs.
Some filers have significantly cut fees for trading the potential spot Bitcoin ETF products. According to the latest S-1 from ARK and 21Shares, the ETF sponsor will waive its 0.25% fee during a six-month period from the day of listing for the first $1 billion in transactions.
BlackRock’s Bitcoin ETF will charge 0.30% after an initial 0.2% fee for the first six months or $5 billion in transactions.
Related: Bitcoin ETF race will push issuers to disclose addresses — Samson Mow
According to Bloomberg ETF analyst Eric Balchunas, the ongoing fee war between possible spot Bitcoin ETFs will unlikely change much in terms of competition at this point.
“Historically this hasn’t moved the needle much. Advisors focused on regular fees since they are long term investors. That said, given all these ETFs all do the same thing, maybe it will matter all else equal, we’ll see,” Balchunas wrote on X (formerly Twitter).
Magazine: How to protect your crypto in a volatile market — Bitcoin OGs and experts weigh in
This is a developing story, and further information will be added as it becomes available.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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