The Applications Have Been Completed, And Sec Approval Is Currently Awaited.

Spot Bitcoin ETF ihraççıları, fonları başlatma izni alabilmek için SEC'e güncellenmiş S-1 formlarını sundu. Bu gelişme, onayın geleceğine dair bir işaret olarak değerlendirildi.

Multiple applicants entered a race on Monday, January 8th, to submit their final S-1 forms to the U.S. Securities and Exchange Commission (SEC), marking the last stage of applications for a Spot Bitcoin Exchange Traded Fund (ETF).

Asset manager Valkyrie was one of the first companies to submit the final S-1 form in anticipation of the expected approval date of the first spot Bitcoin ETF in the United States, which is anticipated before January 10th. Other companies such as WisdomTree, BlackRock, VanEck, Invesco, Galaxy, Grayscale, ARK Invest, and 21Shares followed Valkyrie in this race.

With these new applications, hopeful issuers are expected to complete S-1 form modifications. S-1 amendments include information about market makers, fees, and identities related to potential ETFs.

Some applying companies significantly reduced the trading fees for spot Bitcoin ETF products. For example, according to the latest S-1 form from ARK & 21Shares, the ETF sponsor will waive the 0.25% fee for the first $1 billion in transactions for the first six months from the listing date. BlackRock's Bitcoin ETF will charge a 0.2% initial fee for the first six months, followed by a 0.30% fee or a $5 billion transaction fee.

According to Bloomberg ETF analyst Eric Balchunas, the ongoing fee war among potential spot Bitcoin ETFs may not bring significant changes in terms of competition. Balchunas summarized the situation, stating, "Historically, this situation hasn't moved the needle too much. Advisors focus on regular fees as they are long-term investors. However, when everything is equal among all these ETFs, maybe fees will matter when we see it."

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