Global exchange-traded fund (ETF) provider WisdomTree submit A revised S-1 spot Bitcoin (BTC) ETF prospectus was submitted to the U.S. Securities and Exchange Commission (SEC) on November 16.
The update comes months after WisdomTree Refile It submitted a spot Bitcoin ETF application in June 2023, proposing to amend the rules to have the shares of the WisdomTree Bitcoin Trust listed and traded on the BZX Exchange by the Chicago Board Options Exchange (CBOE).
The revised prospectus mentioned that the WisdomTree Bitcoin Trust ETF will trade under the ticker BTCW, with Coinbase Custody Trust acting as the custodian and holding all Bitcoins in the trust on its behalf.
Bloomberg ETF analyst James Seyffart said that WisdomTree’s updated S-1 spot Bitcoin ETF filing means that the company is still planning to launch an ETF and is discussing this opportunity with the SEC.
“It is expected that all issuers will have to submit one of these documents to launch an ETF at some point. Just a step in the process. Nothing important,” Seifert wrote on X (formerly Twitter).
Eric Balchunas, another Bloomberg ETF expert, said: noticed It took WisdomTree “long enough” to revise its S-1 Bitcoin ETF filing. “Please tell me the SEC won’t wait until all S-1s are updated before issuing a second round of comments,” he added.
related: SEC’s first deadline to approve Bitcoin ETF is coming: Law Decoded
According to data from Seyffart, only two of the 12 U.S. Bitcoin ETF spot companies have yet to amend their S-1 filings with the SEC: Franklin Templeton and Global X.
Okay, we’re close to the deadline for 3 spots #bitcoin ETF application. I want to get a head start because there’s a good chance we’ll see a delay order from the SEC. The delay does not change our view and there is a 90% chance that 19b-4 will be approved by January 10, 2024 pic.twitter.com/LE7sOlHAHM
— James Seyff (@JSeyff) November 14, 2023
Franklin Templeton is awaiting the November 17 deadline for the first spot Bitcoin ETF. The deadline for Hashdex was previously set as November 17th, and now it has also reached the deadline. moved The U.S. Securities and Exchange Commission (SEC) extended the deadline to January 1, 2024 a few days ago.
Global X, another company that has yet to amend its S-1 filing, is also awaiting the second spot Bitcoin ETF deadline of November 21.
Seyffart and other Bloomberg ETF analysts expected The SEC will make another round of delayed decisions on upcoming deadlines in the near future. However, Seyffart still believes that these delays will not change his view that there is a 90% chance that the U.S. Securities and Exchange Commission (SEC) will approve a spot Bitcoin ETF before the end of January 2024.
Magazine: Cryptocurrency Regulation – Does SEC Chairman Gary Gensler Have the Final Say?
Svlook
