CEO Michael Sonnenshein Weighs On Leading Spot Bitcoin ETF Race

Spot Bitcoin exchange-traded fund (ETF) race picks tempo as 8 spot Bitcoin ETF points filed up to date S-1 kinds declaring approved contributors (APs), charges, or different adjustments. Together with different filers, Grayscale additionally filed a written communication relating to APs after the U.S. SEC declared Dec 29 because the final date for issuers to replace their spot Bitcoin ETF functions.

Grayscale CEO Displays on Main the Spot Bitcoin ETF Race

Grayscale Bitcoin Belief submitted a free writing prospectus (FWP) to the U.S. Securities and Alternate Fee (SEC) on Dec 29 as different spot Bitcoin ETF issuers filed up to date S-1 kinds.

The FWP mirrors a post on X by Grayscale CEO Michael Sonnenshein—”Been on this recreation a very long time…we’ve had APs lined up since 2017.”

Spot Bitcoin ETF issuers similar to BlackRock, Constancy, Valkyrie, VanEck, Bitwise, Invesco and Galaxy, WisdomTree, and Franklin Templeton submitted up to date S-1 filings asserting approved contributors (APs) or charges. Constancy Clever Origin Spot Bitcoin ETF has the bottom price of 0.39%.

Sonnenshein claims that Grayscale has been prepared since 2017 with Jane Road and Virtu as approved contributors, as per an SEC filing dated Could 4, 2017.

Additionally Learn: Valkyrie & BlackRock Amend S-1 Documents, Reveal APs in Latest Bitcoin ETF Filings

Bloomberg ETF analyst James Seyffart stated, “This can be a nice level from Sonnenshein”. He added that Grayscale was by no means an issuer they had been frightened about getting an AP settlement. He expects extra issuers shall be attending to the beginning gate. The window for spot Bitcoin ETF approval ranges between January 5 and 10, 2024.

Whereas high ETF consultants don’t doubt Grayscale main the spot Bitcoin ETF race as they adopt “money mannequin” for approval, Bloomberg senior ETF analyst Eric Balchunas warned that they have to file S-1 as per requirement and make sure their approved contributors. “I’m certain they’ll add quickly tho.”

Additionally Learn: Invesco, WisdomTree, Fidelity, and Bitwise Update S-1 Filings; JPMorgan in Spotlight as AP

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