Asset manager BlackRock and cryptocurrency investment firm Bitwise have submitted amended S1 forms to the Securities and Exchange Commission (SEC) in response to the regulator’s inquiries. It is unclear what specific information the SEC requested, but analysts predicted changes following recent meetings between the SEC and the applicants. According to filings, both parties are “working hard to fix things,” as reported by Bloomberg Intelligence’s James Seyffart.
BlackRock’s updated presentation includes 21 notable modifications, addressing issues such as security, risks, disclosures, and the structure of the Trust. The amendments also cover potential regulatory impacts on the ETF and navigating the regulatory landscape in the UK and EU. The SEC is expected to make a decision on approving spot Bitcoin ETFs between January 5 and 10, with Bloomberg analysts predicting a 90% chance of approval. Other applicants like Fidelity, Franklin, and WisdomTree are likely to follow with their amended filings soon.