BasEx News | Bitcoin ETF Issuers Update Applications with SEC
Bitcoin ETF Issuers Submit Updated Applications to the SEC
05.01.2023
Bitcoin ETF Issuers Submit Updated Applications to the SEC

Companies BlackRock, VanEck, Valkyrie, Fidelity, WisdomTree, Bitwise, Franklin Templeton, Invesco, and Galaxy have made final amendments to their applications for a spot Bitcoin ETF with the U.S. Securities and Exchange Commission (SEC).

Bloomberg exchange analyst Eric Balchunas noted that BlackRock listed Jane Street and JPMorgan as authorized participants (APs) for its instrument. In early December, the CEO of the latter, Jamie Dimon, called for a ban on cryptocurrencies in the U.S.

Balchunas pointed out that at this stage, issuers are not required to list authorized participants, so BlackRock's move demonstrates the company's readiness to be among the first.

"Another confirmation that we live in a clown simulation, where Jamie 'cryptocurrencies should be banned' Dimon's firm will be the leading AP in a leading spot cryptocurrency ETF," wrote lawyer Scott Johnson.

According to Balchunas, issuers are already starting a price war: Invesco Galaxy waived fees for the first six months, and Fidelity set a low commission rate of 0.39%.

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