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Invesco, Fidelity, BlackRock, Others Dot Their Bureaucratic I’s as Likely SEC Action on Spot Bitcoin ETF Looms

The race to launch a Bitcoin ETF reached a bureaucratic crescendo Friday as some of the biggest Wall Street firms finalized their offerings’ paperwork ahead of widely expected, possibly imminent, action from the SEC.

Invesco, Fidelity and BlackRock, as well as crypto-focused firms Valkyrie and Bitwise, revealed key details including which companies they would partner with, as well as fees their Bitcoin ETFs would charge if approved. Their so-called S-1 filings are now “ready to party” as Bloomberg ETF analyst Eric Balchunas said on X.

The party could start in a matter of days. ETF watchers expect the SEC to drop its years-long stonewalling of a spot Bitcoin ETF in early 2024. Over a dozen firms are hoping to break into the new market by selling their own version of the easily investable product to investors who’d rather keep their bitcoin exposure in their brokerage accounts,…

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