On Monday, January 8, several companies looking to launch a Bitcoin exchange-traded fund (ETF) hurriedly submitted their updated Form S-1 amendments to the U.S. Securities and Exchange Commission (SEC), just as anticipated.
Valkyrie, an asset management firm, was one of the earliest companies to file its final S-1 amendment just before January 10, which is the anticipated date for the approval of the first Bitcoin ETFs in the United States.
This activity comes as expected, with multiple firms, including Valkyrie, WisdomTree, BlackRock, VanEck, Invesco, Grayscale, ARK Invest, and 21Shares, racing to finalize their documents.
These updated filings mark a significant moment for the cryptocurrency, with the amended S-1 forms detailing aspects like fees and market maker identities for the proposed ETFs.
Some of the filers have significantly cut fees for trading their potential spot Bitcoin ETF products. According to the latest S-1 from ARK & 21Shares, the ETF sponsor will waive its 0.25% fee during a six-month period from the day of listing for the first $1 billion in transactions.
BlackRock’s Bitcoin ETF will charge 0.30% after the initial 0.2% fee for the first six months, or $5 billion in transactions.