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Final Updates of the Year to Spot Bitcoin ETFs - Koin Newsletter
Issuers seeking to set up a spot exchange-traded fund (ETF) for Bitcoin have made last-minute changes to their applications.
BlackRock, VanEck, Valkyrie, Galaxy, Bitwise, WisdomTree, and Fidelity have submitted the final submission of their filings to the U.S. Securities and Exchange Commission (SEC).
WisdomTree has opted for in-kind repayments rather than cash, despite the SEC's recommendations. Issuers such as BlackRock and VanEck, on the other hand, prefer the cash model. BlackRock named Jane Street and JPMorgan as authorized participants in the fund.
The SEC will make a clear decision on applications for spot Bitcoin funding no later than January 10, 2024. Analysts at Bloomberg Intelligence expect applications to be approved by that date.