The SEC sent its comments to potential investors Bitcoin ETF Issuers after a round of revised S-1 forms filed by aspirants on Monday.
While the founder of the Blockchain Trade Association and the Chamber of Digital Commerce, Brian Bowring, posted on this Twitter That this move constitutes a “delay signal,” others disagreed. Bloomberg Intelligence Analyst James Seyphart Argue This was not necessarily the case. “This really shows how quickly the SEC can turn these things around,” he said on Twitter, adding that it was “unprecedented” to send a document to the SEC in the morning and receive comments the same day. He said: “If they had wanted to postpone, the exporters would not have received comments tonight.”
One person familiar with the comments supported Seyphart’s argument, saying: CoinDesk Issuers are expected to file updated documents on Tuesday, with comments addressing “minor details” in their S-1 forms. while, Fox Business Journalist Eleanor Terrett reported that a number of those who received additional comments “were not concerned,” and that the SEC “did not communicate a change in plans.”
Quoting three sources familiar with the matter Axios It was reported that Bitcoin exchange-traded funds could be approved by Wednesday, with more than one fund preparing to begin trading on Thursday morning.
S-1 files have been updated
Monday’s updated S-1 filings saw potential Bitcoin ETF issuers engage in a “fee war,” as hopefuls competed to uncover fee structures that offered the most attractive returns to investors.
Last week saw a rush of activity from companies hoping to launch the first bitcoin spot ETFs in the US, with would-be issuers VanEck and Bitwise revealing in amended S-1 filings that the companies are seeding their potential ETFs with millions of dollars. of dollars.
Bitcoin rose on Monday as optimism grew that the long-awaited investment vehicle may finally be arriving, with Bloomberg Intelligence analysts raising their estimate for the odds of ETFs being approved in January to 95%.
But not everyone is so optimistic. With SEC Chairman Gary Gensler posting a series of tweets warning of the risks of investing in cryptocurrencies on Monday, the Chamber of Digital Commerce’s Berianne Boring remains “concerned” that the SEC may block a Bitcoin ETF from accessing… to the market. “President Gensler doesn’t want to go down without a fight,” she said. chirp. “I hope the launch will be successful this week.”