Bitcoin ETF: Applicants Faith Grows as Amendment Deadline Looms

Godfrey Benjamin
December 29, 2023
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Global Bitcoin ETF Close To Stacking 1M BTC, Bullish For BTC Price?

As today marks the deadline that the United States Securities and Exchange Commission (SEC) gave to ETF applicants to submit the final amendment of their spot Bitcoin ETF S-1 filing, FOX Business’s Eleanor Terrett believes that the agency will receive a ton of revised applications before the day ends.

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Approaching Bitcoin ETF S-1 Amendment Deadline

A few days back, the securities regulator announced December 29 as the deadline for spot Bitcoin ETF applicants to make changes to their applications. ETF filers who fail to comply would not stand the chance to be considered for the first wave of potential approval, per the SEC’s statement. 

Notably, the announcement came after the agency held several meetings with representatives from BlackRock, Grayscale Investments, Fidelity Investments, ARK Invest 21Shares, and others who had equally filed a Bitcoin ETF application with the SEC. Before the announcement, BlackRock, Hashdex, and Pando resubmitted their revised S-1 filings to the regulator. 

In BlackRock’s filing, the top asset management firm highlighted a proposed $10 million seed funding injection for its spot Bitcoin ETF scheduled for January 3, indicating its readiness for the coming launch. 

Following the announcement of the December 29 deadline, a number of other filers began to update their filings. Grayscale filed another amendment with the SEC on Wednesday, just after its chairman Barry Silbert stepped down from the Board of Directors.  

ARK 21Shares has also filed another amendment with the U.S. SEC for its spot Bitcoin ETF application. Precisely, this is the duo’s fifth amendment since they initially submitted the document. Senior Bloomberg ETF analyst Eric Balchunas is positive that this amendment may not be the last one. 

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Bitcoin Price Jumps Amid Likely Approval Sentiments

Meanwhile, the analyst and other experts are still very positive about the potential of receiving approval from the SEC on the already-submitted spot Bitcoin ETF applications. Sam Enzer, partner at law firm Cahill Gordon & Reinel believes that the agency is likely to give the greenlight to a bunch of applications to offer spot Bitcoin ETFs before January 10, 2024.

Renowned investor and advisor Mike Alfred says the odds of a spot Bitcoin ETF approval is at 98.7% considering the recent trends. 

Amidst all these, Bitcoin is performing well as it recently surged to nearly $43,000. At the time of this writing, the flagship cryptocurrency is trading at $42,876.83 and experts believe that it can gain more once spot Bitcoin ETF approval comes.

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on X, Linkedin
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.