Leading asset manager BlackRock has updated its filing to launch the first spot Bitcoin ETF in the US.
The document in question was published on the website of the US Securities and Exchange Commission (SEC). Bitwise also made a similar move and updated its application.
Analysts say this action indicates that the SEC is continuing discussions with the market about opportunities to approve a spot Bitcoin ETF. believes.
What does this mean? Without having read them — it just means that the wheel is still turning. Both the SEC and these issuers are working hard to iron things out. These filings are likely the result of many conversations and a lot of man hours on/between both sides.
NEWS CONTINUES BELOW— James Seyffart (@JSeyff) December 4, 2023
As Koinfinans.com reported, the updates could be a step that allows companies to “tailor” applications to the regulator’s requirements.
BlackRock’s updated document included new language about the trust manager’s efforts to monitor unusual price movements. Additionally, anti-money laundering compliance language was added and a verified PricewaterhouseCoopers statement was included.
Bloomberg analysts expect a spot Bitcoin ETF to be approved in the US in January 2024. James Seyffarth and Eric Balchunas believe there is a 90% chance of a spot Bitcoin ETF being approved before January 10, 2024, when the SEC must make a final decision on ARK Invest’s application.