Issuer struggles to file for Bitcoin spot ETF, SEC has issued further comments

Yesterday, various asset management companies submitted applications to modify Bitcoin spot ETF documents on time before the deadline set by the SEC, including details such as fees and seed funding. According to a tweet from Bloomberg ETF analyst James Seyffort, the SEC has issued additional comments on the S-1 document just submitted. As a result, he expects to see more modified files tomorrow, but he doesn't see this as a sign of delay.

Except Hashdex, all other issuers have submitted the latest documents

Yesterday was the deadline for the SEC to submit revised documents to various ETF issuers. Except for Hashdex, other asset management companies were at the end. The latest documents were submitted on the same day. The documents cover things like fees and seed funding.

According to the opinions of Fox Business reporter Eleanor Terrett and Bloomberg ETF analyst James Seyffort, Hashdex may be slightly delayed in submitting an application to transform into a Bitcoin futures ETF (DEFI). However, even if other companies are approved, that doesn’t mean Hashdex won’t be approved. Because each company's application process may have some differences, the approval time may also vary. Therefore, Hashdex still has a chance of getting approved.

ETF fee war has begun

Bloomberg ETF analyst Eric Balchunas previously pointed out: This will be a fee war and it will never end, because this is the normal life of ETFs.

The latest fees announced by various asset management companies yesterday are as shown in the table below. Except for Grayscale, which is as high as 1.5% (the current GBTC is 2%), other companies have proposed extremely low fees. Ark, Bitwise and Invesco even offer free initial offers.

#The SEC has issued additional comments and more revised documents will be available tomorrow

According to a tweet from Bloomberg ETF analyst James Seyffort, the SEC is said to have The latest S-1 filing contains some additional comments. The news raised expectations for changes to the file, but Seyffort dismissed it as a sign of delay. He noted that he had never seen a situation where comments were made immediately after receiving documents on the same day. He believes that if the SEC wanted to delay, they would not respond so quickly. Therefore, we may see more redacted documents tomorrow, but this does not mean that the SEC is intentionally delaying the process.

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