Altcoin News Daily Official TheBitTimes.com

Grayscale continued efforts to list a spot BTC ETF built on its existing fund, which boasts a $25 billion market cap.  Grayscale Investments filed an updated S-3 Form with the United States Securities and Exchange Commission (SEC) to convert its Grayscale Bitcoin Trust (GBTC) product into a spot Bitcoin ETF.  This is Grayscale’s third amended submission towards its GBTC conversion , according to ETF expert James Seyffart. The firm previously filed a similar form following the departure of chairman Barry Silbert. Senior Bloomberg analyst Eric Balchunas noted that the SEC filing confirmed a pivot to cash-create subscriptions. Grayscale did not, however, disclose the Authorized Participants (APs) for its fund. The fee was also left out of this submission. The SEC will reportedly require issuers to disclose details on both before ETFs can be listed and open for trading. New Grayscale amendment just dropped. Clear language on cash only but still no AP named, just blanks where name s...

Experts say Cathie Wood’s company is the first issuer to publicly disclose basis points (bps) fees for its Bitcoin ETF, signaling constructive talks with the U.S. Securities and Exchange Commission (SEC). ARK Invest and 21Shares filed an update to their joint form S-1 application with the SEC for a spot Bitcoin (BTC) ETF amid industry-wide anticipation that America’s premier securities watchdog would approve such products in the coming weeks or months. The amended ARK 21Shares Bitcoin ETF under the ticker ARKB included the fund’s bps fee stated as 80 bps, the first issuer to do so, according to Bloomberg’s Eric Balchunas. “Honestly a bit higher than I expected,” said ETF expert James Seyffart on X, speaking about the expected expense ratios for the basket of spot BTC ETFs in SEC review at press time. There’s a bunch of updates in here. Lot of new risk disclosures (which is to satisfy Corp Fin no doubt). One interesting thing is they sticking to in kind creations redemptions (albe...