BlackRock (BLK) and VanEck, two of the 13 companies vying to introduce bitcoin (BTC) exchange-traded funds (ETFs) in the United States, submitted new paperwork on Tuesday.
According to the filings, the U.S. Securities and Exchange Commission (SEC) received comments from the two businesses as potential issuers during the last 24 hours.
Shortly after the companies filed filings on Monday outlining costs for their proposed products, the SEC emailed comments to a group of potential issuers of the spot-bitcoin ETFs.
Updated on Tuesday, the petition includes language that aims to prevent a conflict of interest between the ETF’s authorized participants and lessen the harm to shareholders in the case of collapse.
The most recent filing demonstrates an almost unprecedented level of communication between the SEC and potential issuers since amended filings are submitted within a day of the SEC’s response.
Since the SEC has until this Wednesday, January 10, 2024, to approve one of the petitions submitted by Ark and 21 Shares, it is widely anticipated that it will approve all of the applications this week out of a sense of justice.
Also Read: SEC Hustles to Comment on Latest Bitcoin ETF Filings
