Global exchange-traded fund (ETF) provider WisdomTree archived an amended prospectus for the bitcoin (btc) Spot ETF on Form S-1 with the United States Securities and Exchange Commission (SEC) on November 16.
The update comes a few months after WisdomTree. reloaded its bitcoin ETF spot application in June 2023, proposing a rule change for listing and trading WisdomTree bitcoin Trust shares on the BZX Exchange by the Chicago Board Options Exchange (CBOE).
The amended prospectus mentions that the WisdomTree bitcoin Trust ETF will trade under the symbol BTCW, and Coinbase Custody Trust will act as custodian and hold all bitcoin in the trust on its behalf.
According to Bloomberg ETF analyst James Seyffart, WisdomTree’s updated Form S-1 bitcoin Spot ETF filing means the firm is still planning to launch an ETF and is discussing the opportunity with the SEC.
“It was expected that all issuers would have to file one of these to potentially launch their ETF at some point. Just one step in the process. Nothing critical”, Seyffart wrote on X (formerly Twitter).
Another Bloomberg ETF expert, Eric Balchunas, noticed that WisdomTree took “long enough” to amend its bitcoin ETF filing on Form S-1. “Please tell me the SEC is not waiting until all S-1s are updated before issuing a second round of comments,” he added.
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According to Seyffart data, only two of 12 companies in the US filing bitcoin spot ETFs have yet to amend their S-1 filings with the SEC: Franklin Templeton and Global X.
Well, we are approaching the deadline for third place. bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin ETF Applications. I want to get ahead of it because there’s a good chance we’ll see delay orders from the SEC. Delays would NOT change anything about our views and 90% chance of passing 19b-4 by January 10, 2024. pic.twitter.com/LE7sOlHAHM
-James Seyffart (@JSeyff) November 14, 2023
Franklin Templeton is awaiting the deadline for the first spot bitcoin ETF on November 17. Hashdex, whose deadline was also previously set for November 17, saw its deadline. moved by the SEC until January 1, 2024, a few days ago.
Global X, another company that has not yet amended its S-1 filing, is also awaiting its second bitcoin Spot ETF deadline on November 21.
Bloomberg ETF Analysts Like Seyffart wait The SEC will make another round of delays in decisions regarding upcoming deadlines in the near future. However, Seyffart still believes the delays would not alter his view on the 90% probability of the SEC approving a spot bitcoin ETF before the end of January 2024.
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