Cointime

Download App
iOS & Android

Final Bitcoin ETF Application Filings Get Posted by Major U.S. Exchanges

Releasing them suggests they’re confident the SEC will approve the first U.S. spot bitcoin ETFs soon.

U.S. spot bitcoin exchange-traded funds (ETFs) appear to be on the verge of launching after the exchanges that will list them filed amended documents, suggesting they expect U.S. Securities and Exchange Commission approval in the coming days.

The amended 19b-4 filings, filed on behalf of BlackRockGrayscaleFidelity and other issuers, join last month's amended S-1 filings, addressing feedback from the U.S. Securities and Exchange Commission (SEC). More than a dozen applicants hope to launch the first spot bitcoin ETFs in the U.S.; it's likely multiple issuers will be approved simultaneously.

Individuals at two different issuers told CoinDesk on Thursday that their companies anticipate approvals sometime next week.

One of the individuals told CoinDesk that filing the amendments did not mean approvals were guaranteed but said they were optimistic.

A final deadline for SEC action for at least one application, by Ark 21 Shares, is Jan. 10, suggesting the regulator may approve all of the final applications it is comfortable with by that date.

This filing "is another important step towards uplisting GBTC as a spot bitcoin ETF," Grayscale spokeswoman Jenn Rosenthal said in a statement, referring to the company's bitcoin trust that it wants to turn into an ETF. "At Grayscale, we continue to work collaboratively with the SEC, and we remain ready to operate GBTC as an ETF upon receipt of regulatory approvals."

Earlier Friday, Bloomberg reported that the SEC's commissioners were "expected to vote on the exchange-rule filings next week."

The regulatory agency needs to approve both the 19b-4 filings and the S-1 filings before the ETFs can launch.

Comments

All Comments

Recommended for you

  • Cointime April 27th News Express

    1. ETH falls below $3,100

  • HKEX: Accepts BOS HashKey, Huaxia, Harvest Bitcoin and Ethereum ETFs as eligible securities for multiple counters in the central clearing system

    On April 27th, the Hong Kong Stock Exchange issued three notices, announcing the inclusion of Bo Shi HashKey Bitcoin ETF shares and Bo Shi HashKey Ethereum ETF shares, Huaxia Bitcoin ETF shares and Huaxia Ethereum ETF shares, and Jia Shi Bitcoin Spot ETF shares and Jia Shi Ethereum Spot ETF shares as Central Clearing System multi-counterparty eligible securities. It is reported that:

  • Russia’s Central Bank and Rosfinmonitoring unveil pilot of fiat-to-crypto tracking system

    According to reports, since 2023, Russia has been trying to track cryptocurrency transactions and their sources. The Russian Central Bank and the Federal Financial Monitoring Service (Rosfinmonitoring) revealed that there is currently a system that allows private banks to track the connection between fiat-based transactions and cryptocurrency business.

  • PolkaWorld: Coretime trading on Kusama has started

    On April 27th, PolkaWorld announced that Coretime trading on Kusama has begun, marking the end of the era of parallel chains. With the approval and implementation of Kusama proposal 373, the proposal will upgrade the Kusama relay chain runtime to v1.2.0 and bring Coretime functionality. Shortly thereafter, the Kusama community approved Kusmaa proposal 375 last Friday, allowing Coretime chain to begin selling Coretime. Currently, Kusama is in the Renew Period and is selling batches of Coretime.

  • Over $155 million worth of MEME will be unlocked on May 3, accounting for 31.96% of the circulating supply

    According to Token Unlocks data, 5.31 billion MEME tokens, worth over $155 million, will be unlocked on May 3, 2024, accounting for 31.96% of the circulating supply. These tokens will be unlocked and distributed to airdrops, advisors, and investors.

  • The total open interest of BTC options is $17.83 billion, and the open interest of ETH options is $8.07 billion.

    Coinglass data shows that the nominal value of unclosed BTC option positions on the entire network is 17.83 billion US dollars, which is the lowest point since February 26; the nominal value of unclosed ETH option positions is 8.07 billion US dollars, which is the lowest point since February 25.

  • Memeland: Runecoin airdrops for the Stakeland community are now complete

    On April 27th, Memeland posted on social media that their Runecoin airdrop for the Stakeland community has been fully completed.

  • USDC circulation increased by $300 million in the past week, reaching a total of $33.3 billion

    According to official data reported , as of April 25th, Circle has issued a total of 3.8 billion USDC and redeemed approximately 3.5 billion USDC in the past 7 days, with an increase in circulation of approximately 300 million US dollars. The total circulation of USDC is 33.3 billion US dollars, with a reserve of 33.5 billion US dollars, of which approximately 3.4 billion US dollars are in cash, and the Circle Reserve Fund holds approximately 30.1 billion US dollars.

  • Wu Jiezhuang, a member of the National Committee of the Chinese People's Political Consultative Conference, suggested that Hong Kong refer to IPO to provide innovative financing models for Web3

    Wu Jiezhuang, a member of the National Committee of the Chinese People's Political Consultative Conference and a member of the Hong Kong Legislative Council, wrote an article in the Hong Kong Wen Wei Po titled "Leading the Digital Economy by Adapting to the Web3 Trend". The article pointed out that developing Web3+ has both advantages and new challenges. The Hong Kong government has taken an important step in the direction of developing Web3 and the digital economy by formulating a short- to medium-term strategic development blueprint, ensuring that policies and resources are in place, and promoting the construction of Web3+ application scenarios. Focusing on Web3, establishing an international innovation financing platform can not only help Hong Kong leverage its traditional financial advantages, but also help it become a global digital technology center. It is suggested to refer to the mature mode of existing enterprises' IPOs in Hong Kong, provide an innovative financing model for Web3, and create a market trend and service competitive advantage to promote the development of the industry and attract upstream and downstream of the industry chain at home and abroad to gather in Hong Kong.

  • Hong Kong Investment Commission: Virtual asset spot ETFs can be bought and sold through banks

    Hong Kong investors and the Financial Education Committee have stated that the investment scope of spot virtual asset ETFs is limited to virtual assets (currently limited to Bitcoin and Ethereum) provided to the Hong Kong public for buying and selling on virtual asset trading platforms holding China Securities Regulatory Commission licenses. Trading counterparties must buy and sell virtual assets through licensed virtual asset trading platforms to reduce counterparty risks. Asset custody must be entrusted to designated institutions regulated in Hong Kong, such as licensed virtual asset trading platforms, banks, or their subsidiaries registered in Hong Kong, to reduce custody risks. Investors can buy and sell virtual asset spot ETFs through securities firms or banks. Some virtual asset spot ETFs also provide non-listed fund unit categories, which operate similarly to non-listed funds. Investors can apply for and redeem units through securities firms or banks.