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BlackRock and Bitwise Update Bitcoin ETF S1 Filings After Bitcoin Price Surpasses $42,000.
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On Monday night, after the price of Bitcoin surpassed $42,000, BlackRock and Bitwise filed updated versions of their S1 filings for Bitcoin ETFs.
According to Bloomberg ETF strategist James Seyffart, BlackRock filed an S-1 amendment for its spot Bitcoin ETFs, while Bitwise Invest updated its cryptocurrency ETF filing with a second S-1 amendment. While details have not yet been released, the updates show a commitment to achieving their goals despite regulatory challenges.
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Just two days earlier, the SEC met with Grayscale, BlackRock, and other applicants to discuss Bitcoin ETFs. Analyst Eric Balchunas shared that BlackRock has set the starting capital for its Bitcoin ETF at $100 million.
The price of Bitcoin rallied strongly on Monday, December 4, to surpass $42,000. According to analysts, this rally is consistent with the positive developments expected until January 10, 2024. Antoni Trenchev, co-founder of Nexo, noted that the levels of $48,000 and $52,000 are significant resistances after breaking above $40,000. However, it is unclear whether Bitcoin will quickly move to $50,000, depending on the approval of the spot Bitcoin ETF and the impact of the SEC.
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