BlackRock just submitted another amendment for its spot Bitcoin (BTC) exchange traded fund (ETF). This comes less than a day before the US Securities and Exchange Commission (SEC) is scheduled to give its verdict on the first filing due by tomorrow (January 10).
BlackRock Revises S-1 Form for Spot Bitcoin ETF
The SEC appears to be stirring things up with just a day remaining before the anticipated approval of the pending spot Bitcoin ETFs. News outlets that have been on close watch for the landmark event have been reporting additional comments given by the regulator in relation to the filings.
In line with these, the institutions vying to get a slice of the new segment of the market have submitted their amended S-1 forms. Now, it has come to our attention that BlackRock has just forwarded a new revision for its spot Bitcoin ETF with the IBIT ticker, too.
Right now, we’re still scraping more context into this breaking news but we are on close watch on the nature of the said changes in the giant asset management firm’s re-filing. It also remains to be seen how the new developments could affect the expected verdict of the regulator for the other applicants, especially Ark Invest’s Ark 21 Shares.
The FUD Factory is on a Double Shift
As we veer into a momentous event in history that could potentially shake up not only the crypto community but also the world of finance, the shills are now running the mill at double the rate. We are now seeing a wider division between the cheerleaders of these game-changing financial instruments and people spreading FUD (Fear, Uncertainty, Doubt) about them.
In the narration of the pessimists, the new comments of the SEC may signal delays in the ruling of the spot Bitcoin ETFs. Some even equate the affair to a looming denial of the applications. The recent comments of SEC Chair Gary Gensler against cryptos in a series of posts on X are not helping alleviate the mood either.
But come to think of it; if the regulator really wanted to deny the spot Bitcoin ETFs, it could have just gone on with the rejection from the get-go. There’s no point in wasting its time to entertain the applicants and guide them throughout the process only so it could throw them off the cliff. Taking that direction is so counter-intuitive.
Even if the applications are to be delayed, this should not be viewed as tantamount to denial. A delay could still mean it could happen at some point. It may only be ironing out the kinks to ensure that no one will run into trouble once the ship goes full sail.