WisdomTree amends S-1 form spot Bitcoin ETF filing as crypto crowd awaits SEC decisions

The planetary exchange-traded money (ETF) supplier WisdomTree filed an amended S-1 signifier spot Bitcoin (BTC) ETF prospectus with the United States Securities and Exchange Commission (SEC) connected Nov. 16.

The update comes a fewer months aft WisdomTree refiled its spot Bitcoin ETF exertion successful June 2023, proposing a regularisation alteration to database and commercialized shares of the WisdomTree Bitcoin Trust connected the BZX Exchange by Chicago Board Options Exchange (CBOE).

The amended prospectus mentions that the WisdomTree Bitcoin Trust ETF volition commercialized nether a ticker awesome BTCW, with Coinbase Custody Trust serving arsenic the custodian and volition clasp each of the trust’s Bitcoin connected its behalf.

According to Bloomberg ETF expert James Seyffart, the updated S-1 signifier spot Bitcoin ETF filing by WisdomTree means that the steadfast is inactive readying to motorboat an ETF and is discussing the accidental with the SEC.

“All issuers were expected to person to record 1 of these successful bid to perchance motorboat their ETF astatine immoderate point. Just a measurement successful the process. Nothing critical,” Seyffart wrote connected X (formerly Twitter).

Eric Balchunas, different Bloomberg ETF expert, noticed that WisdomTree took “long enough” to amend their S-1 signifier Bitcoin ETF filing. “Please archer maine the SEC isn’t waiting till each S-1s are updated earlier issuing a 2nd circular of comments,” helium added.

Related: First deadline model looms for SEC to o.k. Bitcoin ETFs: Law Decoded

According to Seyffart’s data, lone 2 spot Bitcoin ETF filers retired of full 12 firms that person filed for specified a merchandise successful the U.S. are yet to amend their S-1 filings with the SEC, including Franklin Templeton and Global X.

Okay, we're nearing successful connected deadline dates for 3 spot #Bitcoin ETF applications. I privation to get up of it due to the fact that there's a beauteous bully accidental we'll spot hold orders from the SEC. Delays WOULD NOT alteration thing astir our views & 90% likelihood for 19b-4 support by Jan 10, 2024 pic.twitter.com/LE7sOlHAHM

Franklin Templeton is among the firms awaiting its archetypal spot Bitcoin ETF deadline connected Nov. 17 alongside Hashdex, whose deadline was moved by the SEC a fewer days ago.

Global X, different steadfast that hasn’t amended its S-1 filing yet, is besides awaiting its 2nd spot Bitcoin ETF deadline connected Nov. 21.

Bloomberg ETF analysts like Seyffart expect the SEC to bash different circular of delays connected decisions regarding the upcoming deadlines successful the adjacent future. However, Seyffart inactive believes the delays would not change his position of the 90% likelihood of the SEC approving a spot Bitcoin ETF earlier the extremity of January 2024.

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