Companies BlackRock, VanEck, Valkyrie, Fidelity, WisdomTree, Bitwise, Franklin Templeton, Invesco and Galaxy have made final amendments to the Spot Bitcoin ETF filings with the US Securities and Exchange Commission (SEC).
Bloomberg stock analyst Eric Balchunas noted that BlackRock indicated Jane Street and JPMorgan as authorized participants (AP) of its instrument. In early December, the CEO of the latter, Jamie Dimon, called on the US authorities to ban cryptocurrencies.
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BlackRock just dropped its updated S-1 and it DOES name the APs: Jane Street and JPMorgan (which is kinda ironic). Looks we have our first horse that at the starting gate. pic.twitter.com/H3UmaesygJ
— Eric Balchunas (@EricBalchunas) December 29, 2023
Balchunas noted that at the current stage, issuers are not required to indicate authorized participants, so this step on the part of BlackRock demonstrates the company’s willingness to be among the first.
“Further confirmation that we are living in a clown simulation where Jamie “cryptocurrencies should be banned” Dimon’s firm will be the lead AP in a cutting-edge crypto spot ETF,” wrote lawyer Scott Johnsson.
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Just another datapoint to update priors that we live in the clown world simulation when Jamie «crypto should be banned» Dimon’s firm would be a leading AP on the premier spot crypto ETF.
— Scott Johnsson (@SGJohnsson) December 29, 2023
According to Balchunas, issuers are already starting a price war: Invesco Galaxy has waived fees for the first six months, Fidelity has set a low fee of 0.39%.
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Yes.. told ya’ll the fee war would break out bf the starting gun even went off. And it won’t ever end. This is normal life in the ETF Terrordome tho, the crypto exchange mind cannot comprehend this. https://t.co/5Am76DHzAi
— Eric Balchunas (@EricBalchunas) December 29, 2023
Amid the submission of updated applications, VanEck published a teaser with a call to buy Bitcoin.
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Born to Bitcoin. 🧡 pic.twitter.com/qYI3bmZDvC
— VanEck (@vaneck_us) December 29, 2023
Earlier, media reported that the SEC had set December 29 as the deadline for making final amendments to applications for Bitcoin ETFs.
Recall that analysts suggested that the approval of the instrument would raise the asset’s quotes to $54,000. However, Morgan Creek Digital co-founder Anthony Pompliano warned that the launch of the ETF would not double the price of Bitcoin overnight.
The opposite opinion was expressed by JAN3 CEO Samson Moe. He predicted that digital gold would rise to $1 million within “days or weeks” of the instrument’s approval.
On August 31, the SEC delayed its decision on several Bitcoin funds until at least mid-October. At the end of September, the department postponed the consideration of applications to January 2024.
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2023-12-30 08:52:25
#Bitcoin #ETF #Issuers #Submit #Updated #Applications #SEC #ForkLog
