BlackRock, Bitwise Update Spot Bitcoin ETF Applications With SEC

Joshua Ramos
MANHATTAN, NEW YORK, UNITED STATES – 2021/05/25: BlackRock offices in New York City. Founded in 1988, BlackRock, Inc. is an US multinational investment management corporation. The corporation is the world’s largest asset manager, with $8.67 trillion in assets under management as of January 2021. (Photo by Erik McGregor/LightRocket via Getty Images)

Amid the anticipation of the potential approval for the offering, BlackRock and Bitwise have both issued an update to their spot Bitcoin ETF applications with the US Securities and Exchange Commission (SEC). Indeed, both companies have updated their S-1 filings to start this week.

Bloomberg analyst, James Seyffart, discussed the updates taking place in coverage of the applications process. Specifically, he noted that the amendments are “just pouring in,” from BlackRock. Moreover, he noted that the SEC is likely giving many of these prospective issuers the same responses to their applications.

BlackRock and Bitwise have updated their Spot Bitcoin ETF applications with the SEC, as the market awaits the potential approval

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BlackRock Amends Bitcoin ETF Applications Alongside Bitwise

For much of the last few months, the anticipation for a potential Spot Bitcoin ETF in the United States has been palpable. Specifically, the SEC is set to possibly approve the first ETF of its kind, with a host of companies submitting and amending their applications. Now, two of the biggest applicants have followed specific instructions in their amendments.

Indeed, BlackRock and Bitwise have both updated their Spot Bitcoin ETF application with the SEC. Bloomberg’s James Seyffart discussed the amendments, and how that is impacting the overarching process that these prospective issuers are undergoing.

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“The wheel is still turning,” Seyffart wrote in a post to X. “Both the SEC and these issuers are working hard to iron things out. These filings are likely the result of many conversations and a lot of man hours on/ between both sides.”

For BlackRock, its updates include new language regarding trust administrators monitoring unnatural price movements. Moreover, it included revised anti-money laundering compliance and an audited statement from PricewaterhouseCoopers. Conversely, the ongoing dialogue between the SEC and these issuers is certainly a step toward that ever-illusive approval.