Crypto prices continue to rise in anticipation of the imminent approval of a Bitcoin ETF by the U.S. SEC. BlackRock, the world’s largest asset manager, has submitted an updated filing for a spot Bitcoin (BTC) ETF under its subsidiary iShare Bitcoin Trust to the SEC on December 4. In a closely timed move, Bitwise, the leading crypto index fund manager, also updated its filing just an hour prior to BlackRock.
Bloomberg analyst James Seyffart noted the simultaneous updates, suggesting active discussions between the SEC and spot Bitcoin ETF issuers, aiming to refine the details of these offerings. Seyffart believes these amendments are likely the outcome of extensive dialogues and collaborative efforts between the issuers and the regulatory body.
The updated filing from BlackRock’s iShare Bitcoin Trust emphasizes enhanced measures for monitoring unusual price movements and bolstering anti-money laundering compliance. A comprehensive audited report on the trust was also attached, indicating a heightened focus on regulatory compliance and transparency.
Despite the SEC not yet greenlighting any spot Bitcoin ETFs from a slew of applicants, these consistent updates indicate a growing possibility of at least one ETF being approved soon.
Adding to the developments, a recent BlackRock filing unveiled an injection of $100,000 as “seed capital” for its proposed Bitcoin ETF, CoinDesk reports. The investment giant disclosed that the seed capital investor agreed to purchase shares valued at $25.00 each, totaling 4,000 shares, on October 27, 2023, highlighting the ongoing preparations for the anticipated ETF launch.
