Spot Bitcoin ETF Applicants File Final Amended Form S-1

• Asset manager Valkyrie was among the first businesses to submit its final S-1 modification.
• Details on the fees or names of the market makers for the possible ETFs are included.

As anticipated, on Monday, January 8, many applicants for a spot Bitcoin exchange-traded fund (ETF) hurriedly submitted their final Form S-1 modifications to the U.S SEC.

It is generally anticipated that the first spot Bitcoin ETFs would be authorized in the United States on January 10, and asset manager Valkyrie was among the first businesses to submit its final S-1 modification before that date.

All Eyes on SEC Now

Moreover, expected to finish their Form S-1 revisions today, the optimistic issuers are kicking off what could be a historic week for Bitcoin with the fresh filings. Details on the fees or names of the market makers for the possible ETFs are included in the S-1 amendments.

When it comes to trading the possible spot Bitcoin ETF products, several filers have drastically reduced fees. The most recent S-1 filing by ARK and 21Shares states that for the first $1 billion in AUM within six months of listing, the ETF sponsor would not charge the 0.25% fee.

Following an initial fee of 0.2% for the first twelve months or $5 billion in AUM, BlackRock’s Bitcoin ETF will subsequently charge 0.3%. Bloomberg ETF expert Eric Balchunas claims that the current fee battle among potential spot Bitcoin ETFs is not going to significantly impact competitiveness at this stage.

Some filers, such as BlackRock, went over and above by including details on the seeding of spot Bitcoin ETFs alongside the fees. Using the funds from the seed creation baskets, the trust bought 227.9 BTC on January 5, 2024, for $10 million, according to BlackRock.

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