Spot bitcoin ETF applicants file amended S-1 forms in final step toward approval
Quick Take BlackRock has gone for a low sponsor fee of 0.3% while VanEck has gone even lower at 0.25%. This is the final step before the SEC decides whether to approve the multiple applications for spot bitcoin ETFs.
Multiple applicants have filed amended S-1 forms in the final step in the process before a potential spot bitcoin ETF approval.
BlackRock, Ark Invest/21Shares, VanEck, WisdomTree, Invesco, Fidelity and Valkyrie have all filed amended S-1 forms.
Included in the filings are some of the sponsor fees, which have not previously been announced. BlackRock has set its sponsor fee at 0.3%. VanEck has gone for the lowest out of the issuers so far at 0.25%. WisdomTree has gone for a higher 0.5% fee.
"Damn, the fee for BlackRock’s Bitcoin BTC +0.69% ETF will be 0.30% as per their just filed S-1. This is much cheaper than I predicted. Life just got a LOT tougher for everyone else. The ETF Terrordome is no joke," said Bloomberg ETF analyst Eric Balchunas.
Ark/21Shares has also dropped its fee from 0.8% to 0.25% to make it more competitive.
This comes days after the applicants filed amended — and likely final versions — of their 19b-4 forms. New filings came in for proposed funds from Grayscale Investments, Valkyrie, ARK 21Shares and Invesco. The Cboe BZX exchange also filed forms for VanEck , WisdomTree , Pando Asset AG and Franklin Templeton .
With the final documents handed in, it's now up to the SEC to decide whether to approve the 19b-4 forms and for the S-1 forms to come into effect. If both of these happen, trading can start the following day.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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