The largest asset manager, BlackRock, has submitted an updated version of its spot Bitcoin (BTC) ETF filing, under its subsidiary iShare Bitcoin Trust, to the U.S. SEC on December 4.
A similar move has also been taken by Bitwise, the largest crypto index fund manager, which submitted its updated filing just an hour before BlackRock’s update.
Bloomberg analyst James Seyffart shared the update on X and said that the SEC is probably in discussion with all the spot Bitcoin ETF issuers and giving them instructions on it since amendments are published consequently.
BlackRock’s application update includes additional efforts from the trust in monitoring and administering unusual price movements. It has also updated anti-money laundering compliance while attaching a thoroughly audited report on the trust.
“Both the SEC and these issuers are working hard to iron things out. These filings are likely the result of many conversations and a lot of man hours on/between both sides,” Seyffart said.
As the SEC has not yet approved any of the spot Bitcoin ETFs for over a dozen applicants, the constant updates to filings suggest that at least one ETF could go live in a shorter time.