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The U.S. Securities and Exchange Commission (SEC) is expected to approve or reject at least one spot Bitcoin ETF this week. This anticipation has led to a 60% increase in the largest cryptocurrency over the last three months. The general consensus is that the SEC will approve multiple spot Bitcoin ETF applications at once to level the playing field. Among the 13 companies awaiting approval are BlackRock, Invesco, Fidelity, Grayscale, Ark, Bitwise, and VanEck, and these companies continue to update their ETF applications under the guidance of the SEC.
Updated Version of the S-1 Form Submitted for Spot Bitcoin ETFs
Companies have been meeting with SEC officials for a long time and have made a series of updates to their spot Bitcoin ETF applications accordingly. Most recently, six ETF issuers including Valkyrie, WisdomTree, Invesco Galaxy, and BlackRock have submitted an updated version of the S-1 form for their spot Bitcoin ETF to the SEC.
Accordingly, the companies that have submitted an updated version of the S-1 form to the SEC are VanEck, Valkyrie, BlackRock, Invesco & Galaxy, ARK, and WisdomTree. There are currently 13 companies waiting for SEC approval for their ETF, and the remaining seven companies are expected to submit the updated version of their S-1 forms to the U.S. regulator in the coming hours.
ETF experts indicate that with these recent updates, the S-1 forms submitted by the companies for their ETF applications have now taken their final form, and the ball is now in the SEC’s court.
What is the S-1 Form?
The S-1 form is a type of form used by the SEC for the registration of securities. The S-1 form is a registration statement that indicates an issuer’s intention to go public for the first time. ETF issuers submit the S-1 form to the SEC when they want to create and offer an ETF to the public.
This form provides investors and regulators with information about the purpose, operation, portfolio components, risk factors, and other important details of the ETF. It helps potential investors make informed decisions and allows regulators to assess the suitability of the ETF.
Each S-1 form can be different depending on the specific circumstances of the company, but it generally contains detailed information about the company’s financial condition, management, risk factors, and business activities. After being reviewed and approved by the SEC, the company can proceed with the public offering process.
