BlackRock (BLK) and VanEck, the two 13 firms planning to launch Bitcoin (BTC) exchange-traded funds (ETFs) in the U.S., filed updated documents on Tuesday.
The filings show that the two companies were among the potential issuers on which the US Securities and Exchange Commission (SEC) made comments in the last 24 hours. CoinDesk previously reported that the SEC sent comments to a number of potential issuers of the spot Bitcoin ETFs, just hours after the companies filed documents detailing fees for their proposed products on Monday.
Among the changes in Tuesday's latest updated filing is language aimed at limiting damage to shareholders in the event of bankruptcy and avoiding a conflict of interest among the ETF's authorized participants.
The latest filing shows nearly unprecedented engagement between the SEC and potential issuers, with filings following SEC responses and then filings updated within 24 hours.
The SEC is widely expected to approve all applications this week, as the deadline for one of Ark and 21 Shares' applications is January 10, 2024, this Wednesday, and in the interests of fairness they may approve them all together want.
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