Several funds have adjusted their Bitcoin ETF application or added attachments. This seems like a good sign, as it suggests these funds are in discussions with the SEC about the requirements and are adjusting their filings accordingly.
Things used to be different. There have been many requests over the years to which the only answer was: ????️
Fifth change to the Bitcoin ETF application
VanEck has filed a Fifth Amendment complaint with the SEC, according to analyst James Seyfartt. Apparently they were not satisfied with the request and changed the so-called S-1 form.
This shows that VanEck will not settle for rejection, but will remain committed to a Bitcoin ETF. They should, if they are not among the first funds to offer a Bitcoin ETF it will be very difficult to join.
VanEck wasn’t the only one who changed his application. Crypto company Bitwist has also filed an amended S1 filing with the Securities and Exchange Commission. The well-known asset manager BlackRock has also improved its application.
BlackRock’s presence helps
Everything BlackRock does is (rightly) scrutinized. This isn’t some dumb crypto company looking to launch a product. This is the largest asset manager in the world. When they want something, the world tends to bend. The SEC is no exception.
Therefore, BlackRock has applied for a Bitcoin ETF and may receive feedback from the SEC to increase its chances of approval.
That is why there is an active dialogue between the SEC and all candidates, including VanEck, BlackRock and Bitwise. Seyffart recently commented on this
Source: BtcDirect
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Barry Siefert is an accomplished journalist and author at The Nation View. He is known for his expertise in the field of cryptocurrency, and has written extensively on the topic. With a background in finance and economics, Barry has a deep understanding of the underlying technology and market forces that drive the crypto industry.
