The U.S. Securities and Exchange Commission (SEC) submitted feedback on the updated S-1 filings of spot bitcoin-ETF issuers in record time. This information was confirmed by James Seyffart, an analyst at Bloomberg Intelligence.
According to Seyffart, the SEC's quick response is "unprecedented." He also emphasized that this should not be interpreted as an indication of a possible delay in the Commission's decision.
1. This is true, comments came back on those S-1 documents with the fees that we all went crazy over this morning (this isn't out of ordinary)
— James Seyffart (@JSeyff) January 9, 2024
2. Expect to see more amendments tomorrow because of this
3. That said -- I don't think this is necessarily a delay signal https://t.co/o2m0lIBSct
Such a quick response is indicative of the efficiency of the process, Seyffart noted. If the SEC had intended to delay the filing, issuers would not have received a response so quickly.
The companies filed updated Forms S-1 on January 8, 2024. It was later reported that the SEC responded within hours, a fact that Seyffart confirmed.
The expert also expects ETF issuers to resubmit the revisions to the Commission on January 9, 2024. According to Seyffart, the revisions are minor corrections with no direct impact on the products.
The companies filed updated S-1 forms on January 8, 2024. It was then reported that the #SEC responded on them within hours.
