Blackrock, Ark, WisdomTree, Invesco all submit new spot Bitcoin ETF filings within minutes

Major institutions in the race for the first spot, Bitcoin ETF, have updated their S1 filings with the SEC within minutes of each other today, Jan. 8.

Blackrock, Ark, WisdomTree, and Invesco Galaxy all submitted updated documents around 11 am GMT as the final stages of the potential approval of the first spot Bitcoin ETF in the United States is underway.

The Blackrock ETF plans a low 0.3% fee, according to the latest filing, making it the lowest of the known fees at this time.

“The Sponsor’s Fee is accrued daily at an annualized rate equal to 0.30% of the net asset value of the Trust and is payable at least quarterly in arrears in U.S. dollars or in-kind or any combination thereof.”

Blackrock has also revealed that “as of January 5, 2024, the date the Seed Capital Investor purchased the Seed Creation Baskets, the net asset value of the Trust was $9,980,032.71, and the NAV was $24.95.”

The Invesco Galaxy ETF will trade under the ticker BTCO, and the filing states that it has seeded around $4.8 million in Bitcoin to date,

“Accordingly, as of the market close on January 4, 2024, the Trust had total assets of $4,857,935.50, solely represented by bitcoin held in custody by the Bitcoin Custodian, and had 110,000 Shares outstanding, entirely held by the Sponsor. The Sponsor acted as a statutory underwriter in connection with these purchases.”

This is breaking news, and the story will be updated as CryptoSlate reviews the documents.

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