BlackRock and Bitwise amend filings to launch Bitcoin ETFs

BlackRock and Bitwise have filed amended applications to launch spot Bitcoin-ETF.

UPDATE: They're just pouring in. We have another spot #Bitcoin ETF S-1 (prospectus) amendment tonight. This one is from @BlackRock. SEC is obviously giving multiple issuers the same or very similar instructions. pic.twitter.com/nk1yImZpXk

— James Seyffart (@JSeyff) December 4, 2023

Bloomberg analyst James Seyffart saw the developments as a sign that the SEC is issuing similar instructions to issuers. In his view, this is further confirmation of preparation for the product's approval.

“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. The filings are likely the result of many conversations and a lot of man hours on/between both sides,” — he explained.

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.

— James Seyffart (@JSeyff) December 4, 2023

Following the tweets, Bitcoin attempted but failed to hold above $42,000, a level last seen in April 2022. At the time of writing, daily gains had slowed to 0.5%, according to CoinGecko. The price retraced to around $41,700.

Earlier, the SEC began collecting public feedback on spot Bitcoin ETFs. Lawyer Scott Johnson saw in this a signal of the regulator's readiness to approve all filings for the instrument by January 10, 2024 .

In November, representatives from the Securities and Exchange Commission and BlackRock held a meeting, where they discussed the details of the spot Bitcoin ETF.

Previously, the regulator met with Grayscale's leadership to discuss converting their Bitcoin Trust into an ETF.