WisdomTree, Fidelity, Invesco, VanEck, and ARK submitted their Bitcoin ETF registration filings to the SEC in the early morning of July 1st.
Previously, the SEC representative stated that recent proposals to launch Bitcoin spot ETFs did not specifically address the cryptocurrency exchanges that would oversee the trading activities. Therefore, they did not meet the requirements set by financial regulators.
The SEC has not granted approval for any Bitcoin spot ETFs thus far, but they have approved the trading of Bitcoin Futures ETFs.
However, on the morning of July 1st, the stock exchange Cboe, representing four organizations including ARK Invest, Fidelity, WisdomTree, Invesco, and Valkyrie, simultaneously submitted five updated filings for Bitcoin ETF listings on their platform.
All five filings have added Coinbase as the partnering cryptocurrency exchange to facilitate Bitcoin spot trading operations. It’s worth noting that Coinbase, the platform that was sued by the SEC for allegedly listing cryptocurrencies deemed as securities, has been included in these filings.+
BlackRock, the prominent US financial giant and the first organization to initiate the wave of Bitcoin spot ETFs, has remained quiet. However, in their initial registration filing, BlackRock mentioned selecting Coinbase as the custodial partner.
According to the registration process, the SEC has specific deadlines of 45 days, 90 days, and 180 days to decide whether to accept, reject, or extend the review of the Bitcoin ETF proposals before eventually making a final ruling.