Asset manager BlackRock has updated its application to launch the first-ever spot Bitcoin ETF in U.S.
The document appearedย on the website of the U.S. Securities and Exchange Commission (SEC). Bitwise has also updated its application to launch a similar tool.
Analysts believe the action signals that the SEC is continuing discussions with the market about opportunities to approve a spot Bitcoin ETF.
The updates could be a step that allowed companies to โtailorโ applications to the regulatorโs requirements.
BlackRockโs updated document included new language about the efforts the trust administrator will make to monitor unusual price movements. It also added anti-money laundering compliance language and included a verified PricewaterhouseCoopers statement.
Bloomberg analysts expectย approval of a spot Bitcoin ETF in the U.S. in January 2024. James Seyffarth and Eric Balchunasย believe there is a 90% chance of a spot Bitcoin ETF being approved before January 10, 2024, the day by which the SEC must make a final decision on ARK Investโs application.
