- Asset managers may be eligible to begin operations by January 10, 2024, if they fulfill their end-of-year filing revision obligations.
- The SEC may notify 14 applicants for Bitcoin ETFs if their applications are approved by next week.
- BlackRock is the largest asset manager in the world and a leader in the Bitcoin ETF race.
Before the deadline of January 10 for the US Securities and Exchange Commission (SEC) to determine whether or not to approve the ETF application by Ark Invest and 21Shares, the SEC may notify 14 applicants for Bitcoin ETFs if their applications are approved by next week.
Asset managers may be eligible to begin operations by January 10, 2024, if they fulfill their end-of-year filing revision obligations. A few of the companies that have amended their SEC registrations for Bitcoin ETFs are Fidelity, Black Rock, Van Eck, WisdomTree, Invesco, and Valkyrie.
SEC
In its most recent S-1 form update, Fidelity Investments offered further technical specifications and information about its proposed ETF product, recommending the lowest sponsor fee of 0.39%.
After launching, Invesco announced a rate of 0.59% and waived fees on the first $5 billion in assets for the first six months. Jane Street Capital and JP Morgan Securities have been revealed as authorized participants in BlackRock’s amended application. BlackRock is the largest asset manager in the world and a leader in the Bitcoin ETF race.
The SEC wants to close the book on the Bitcoin ETF chapter as soon as the new year hits, but a recent report from Reuters raises hopes that the agency may approve multiple ETF applications before January 10.
The market has priced in the possibility that the Bitcoin ETF would be approved and may not result in higher returns for the asset, according to options platform Greeks.live, which has provided insight into the possible impact of the approval on the value of the leading cryptocurrency.
