Updated S-1 Applications for Bitcoin ETF Submitted, SEC Approval Pending

Several contenders vying for a coveted spot in the Bitcoin exchange-traded fund (ETF) arena have swiftly submitted their conclusive Form S-1 amendments to the United States Securities and Exchange Commission (SEC) on Monday, January 8, in line with expectations.

Leading the charge, asset management firm Valkyrie spearheaded the initiative, filing its ultimate S-1 amendment well before the anticipated Jan 10 deadline, which marks the widely speculated approval date for the inaugural spot Bitcoin ETFs in the United States.

Quickly following Valkyrie’s lead, a cadre of influential entities, including WisdomTree, BlackRock, VanEck, Invesco, Galaxy, Grayscale, ARK Invest, 21Shares, Fidelity, Bitwise, and Franklin Templeton, also submitted their final S-1 amendments.

Bitcoin faces a pivotal week with aspiring issuers set to finalize their Form S-1 amendments, marking a collective effort that could have a monumental impact. The stage is now set for significant developments in the Bitcoin space. These amendments encapsulate crucial details such as information on fees and the identities of market makers associated with the prospective ETFs.

Bitcoin ETF Fee Wars: Fund Managers Slash Charges In A Race To Attract Investors

Several fund managers have drastically reduced trading fees for prospective spot Bitcoin ETFs. Per the latest S-1 documents from ARK and 21Shares, these ETF sponsors plan to waive their standard 0.25% fee for the initial six months after the listing date, which applies to the first $1 billion in transactions.

After applying an initial 0.2% fee for the first six months or $5 billion in transactions, BlackRock’s Bitcoin ETF will impose a 0.30% charge.

As per insights from ETF analyst Eric Balchunas at Bloomberg, the persistent fee rivalry among potential Bitcoin ETFs may not significantly alter the competitive landscape.

“Traditionally, this has yet to have a substantial impact. Advisors prioritize standard fees as they adopt a long-term investment approach. Nevertheless, considering the uniform functionality of these ETFs, it might become a notable factor, all else being equal. Time will tell,” remarked Balchunas on X (previously known as Twitter).

The author’s views are for reference only and shall not constitute any investment advice. Please ensure you fully understand and assess the products and associated risks before purchasing.