Yesterday, Bitcoin spot ETF issuers including Fidelity, Grayscale, Ark Invest/21 Shares, Valkyrie, and VanEck have all submitted the “8-A Form” for securities registration. Bitwise was the first to submit the 8-A Form last Friday. This marks further progress in the potential approval of Bitcoin spot ETFs.
According to the documents submitted to the SEC on the 4th, including Fidelity, Grayscale, Ark Invest/21 Shares, Valkyrie, and VanEck, the Bitcoin spot ETF issuers have all submitted the “8-A Form” for securities registration. Bitwise was the first to submit the 8-A Form.
The 8-A securities registration form, as reported by The Block, is a necessary application for ETFs before listing. Once the ETF is approved by the SEC for listing, the issuer can register the product as a security on the exchange. This represents further progress for potential Bitcoin spot ETFs and increases the probability of SEC approval.
However, Bloomberg ETF analyst James Seyffart stated that his understanding is that the 8-A form is only for securities registration and does not mean they have been approved.
To officially list a Bitcoin spot ETF, in addition to SEC approval for the 19b-4 form for changes in trading rules, approval of the S-1 registration statement application is also required. Both applications are completely separate and both documents must be approved by the SEC before trading can begin.
According to another Bloomberg ETF analyst Eric Balchunas, the SEC is providing final opinions on Bitcoin spot ETFs and the issuers will soon submit the final 19b-4 and S-1 forms.
Yesterday, The Block quoted insiders who revealed that the remaining issues regarding Bitcoin spot ETFs have been resolved in communication with the applicants, including the creation/redemption model, designated authorized participants, and Bitcoin forks.
The market is eagerly awaiting whether the SEC will approve the Bitcoin spot ETF before the deadline on January 10th. Fox News reported yesterday that insiders disclosed that the SEC may approve the ETF as early as Friday, with official trading beginning next week. Commenting on this news, James Seyffart stated:
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