Within The Last Day, 7 Different Transactions Were Made: Revisions Were Made On Spot Bitcoin Etf Applications.

On the last application date, seven out of thirteen applicants for Spot Bitcoin ETFs submitted revised S-1 documents to the SEC.

On December 29th, candidates in the competition for Spot Bitcoin (BTC) Exchange-Traded Funds (ETFs) waited until the last moment to submit the final versions of their S-1 form applications. Following BlackRock, VanEck, and Valkyrie, Invesco Galaxy, Bitwise, WisdomTree, and Fidelity filed applications with the United States Securities and Exchange Commission (SEC).

Fidelity, WisdomTree, and Invesco Galaxy disclosed their authorized participants in the new filings. While Invesco Galaxy chose Virtu and JPMorgan, WisdomTree and Fidelity entrusted this task to Jane Street Capital.

Despite the SEC's call for cash redemption, WisdomTree decided to continue creating and redeeming in-kind shares.

According to analyst Eric Balchunas, a price competition has emerged among competitors. Invesco Galaxy waived fees for the first six months and the initial $5 billion in assets, while Fidelity set its fee at 0.39%.

Yes.. told ya'll the fee war would break out bf the starting gun even went off. And it won't ever end. This is normal life in the ETF Terrordome tho, the crypto exchange mind cannot comprehend this. https://t.co/5Am76DHzAi

— Eric Balchunas (@EricBalchunas) December 29, 2023

Although Bitwise has not yet disclosed its authorized participants, the latest S-1 filing indicated an unnamed party expressing interest in purchasing shares of the ETF up to $200 million.

BlackRock, VanEck, Grayscale, Bitwise, WisdomTree, Invesco Galaxy, Fidelity, ARK Invest, Valkyrie, Franklin, Hashdex, Global X ETFs, and Pando Asset have all submitted S-1 applications for Spot Bitcoin ETFs.

The SEC set the deadline for changes to Spot BTC ETF S-1 filings as December 29th. Grayscale's latest application, submitted on December 27th following Barry Silbert's resignation from the board, stated in a new filing that Grayscale Bitcoin Trust would be converted solely into a cash-based spot ETF, similar to the revisions made earlier by VanEck and BlackRock on the same day.

Barry Silbert and his founded company, Digital Currency Group, are currently under investigation by the SEC.