Bloomberg: SEC commissioners are expected to vote next week on 19b-4 documents submitted by Bitcoin spot ETF issuers
It is expected that SEC commissioners will vote on the 19b-4 documents submitted by ETF issuers next week. Typically, the approval of ETFs can be delegated to SEC staff without the need for commissioner voting. It is currently unclear whether SEC staff has provided additional feedback on all companies' 19b-4 applications.
Invesco Galaxy, Bitwise, WisdomTree, Fidelity join BTC ETF revision rush
Seven of the 13 applicants for spot Bitcoin ETFs filed revised S-1s with the SEC on the day of the deadline. An official decision is expected by Jan. 9, and trading should begin around Jan. 11. If a launch is approved, issuers may be notified as soon as Jan. 3.
Amid Bitcoin ETF Race, Wall Street Giants Dot Their Bureaucratic I's as Likely SEC Action Looms
BlackRock, Fidelity and Invesco want all their ducks in a row should the SEC grant approvals early in the new year.
CI Global announces reinvestment allocation to its crypto ETF
CI Global Asset Management announced a reinvestment distribution for its cryptocurrency ETF (CI Galaxy Crypto ETF). The reinvestment distribution will not be paid in cash, but will be reinvested, and the resulting shares will be immediately merged, so the number of units held by each investor will not change.
Invesco appoints JP Morgan and Virtu Americas as authorized dealers for its spot Bitcoin ETF, which will charge no fees for the first 6 months
On December 30th, James Seyffart, an ETF analyst at Bloomberg, posted on social media that Invesco US and Galaxy Digital have submitted the latest revised S-1 document for their spot Bitcoin ETF, designating JP Morgan Securities and Virtu Americas as authorized participants for the ETF's spot Bitcoin trading. The ETF will not charge agent fees (Sponsor Fee) for the first 6 months after its launch, while the ETF itself has a designated agent fee of 0.59%.
WisdomTree appoints Jane Street as authorized dealer for its spot Bitcoin ETF
On December 30th, ETF analyst Eric Balchunas from Bloomberg stated on social media that WisdomTree has submitted a revised S-1 document for its physical Bitcoin ETF, designating Jane Street Capital as its authorized participant.
Currently 793,034 BTC are held in various ETFs and Grayscale trusts
CoinGecko calculates that various ETFs and Grayscale trusts currently hold 793,034 BTC (about 34 billion US dollars), which is 3.8% of the total bitcoin issuance.
Hashdex Names BitGo as Bitcoin ETF Custodian as Applicants Continue SEC Meetings
A bitcoin ETF may be approved or rejected in the first few days of the new year.
Arthur Hayes takes cautious view of Bitcoin ETF: it may pose a threat to the value and existence of Bitcoin
On December 23, BitMEX founder Arthur Hayes published a lengthy article on his blog, analyzing topics such as changes in Federal Reserve policy, regulated decentralized finance (Permissioned DeFi), real-world assets (RWA), and Bitcoin ETFs. Hayes believes that Bitcoin and cryptocurrencies are the best way to fight currency devaluation, comparing them to gold, the S&P 500 index, and the Nasdaq 100 index, and pointing out that Bitcoin has outperformed other risky assets since 2020.
Hong Kong: Ready to accept spot cryptocurrency ETF applications
Securities and Futures Commission (SFC) and the Hong Kong Monetary Authority have reviewed the current policies for intermediary institutions wishing to engage in virtual asset related activities. In addition to existing cryptocurrency futures ETFs, the SFC stated that it is "prepared to accept authorization applications for other funds involved in virtual assets, including virtual asset spot trading exchange traded funds (VA spot ETFs)." In another notice released today, the SFC stipulated the requirements for funds to "directly invest in the same spot VA tokens that the Hong Kong public can trade on virtual asset trading platforms (VATPs) licensed by the SFC."
