The international exchange-traded fund (ETF) supplier WisdomTree filed an amended Form S-1 spot Bitcoin (BTC) ETF prospectus with the United States Securities and Exchange Commission (SEC) on Nov. 16.
The replace comes a number of months after WisdomTree refiled its spot Bitcoin ETF utility in June 2023, proposing a rule change to record and commerce shares of the WisdomTree Bitcoin Trust on the BZX Exchange by the Chicago Board Options Exchange (CBOE).
The amended prospectus mentions that the WisdomTree Bitcoin Trust ETF will commerce underneath a ticker image BTCW, with Coinbase Custody Trust serving as the custodian holding the entire belief’s Bitcoin on its behalf.
According to Bloomberg ETF analyst James Seyffart, the up to date Form S-1 spot Bitcoin ETF filing by WisdomTree signifies that the agency remains to be planning to launch an ETF and is discussing the chance with the SEC.
“All issuers were expected to have to file one of these to potentially launch their ETF at some point. Just a step in the process. Nothing critical,” Seyffart wrote on X (previously Twitter).
Another Bloomberg ETF skilled, Eric Balchunas, noticed that WisdomTree took “long enough” to amend its Form S-1 Bitcoin ETF filing. “Please tell me the SEC isn’t waiting till all S-1s are updated before issuing a second round of comments,” he added.
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According to Seyffart’s information, solely two spot Bitcoin ETF filers out of 12 companies within the U.S. have but to amend their S-1 filings with the SEC: Franklin Templeton and Global X.
Okay, we’re nearing in on deadline dates for 3 spot #Bitcoin ETF purposes. I need to get forward of it as a result of there is a fairly good likelihood we’ll see delay orders from the SEC. Delays WOULD NOT change something about our views & 90% odds for 19b-4 approval by Jan 10, 2024 pic.twitter.com/LE7sOlHAHM
— James Seyffart (@JSeyff) November 14, 2023
Franklin Templeton is awaiting its first spot Bitcoin ETF deadline on Nov. 17. Hashdex, whose deadline was beforehand additionally set for Nov. 17, noticed its deadline moved by the SEC to Jan. 1, 2024, a number of days in the past.
Global X, one other agency that hasn’t amended its S-1 filing but, can be awaiting its second spot Bitcoin ETF deadline on Nov. 21.
Bloomberg ETF analysts like Seyffart expect the SEC to do one other spherical of delays on decisions relating to the upcoming deadlines within the close to future. However, Seyffart nonetheless believes the delays wouldn’t alter his perspective of the 90% chance of the SEC approving a spot Bitcoin ETF earlier than the tip of January 2024.
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