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The issuers additionally want the SEC to sign-off on the ultimate variations of their S-1 filings, that are the prospectus paperwork for the ETFs. SEC approval of the 19b-4 and S-1 types might or might not occur concurrently, although usually the S-1s are authorised after the 19b-4s.
A consultant for the SEC declined to remark.
Ought to each approvals be obtained, the ETFs might begin buying and selling as quickly as the following enterprise day.
Final week, a number of issuers, together with BlackRock Inc. and Constancy, submitted amended S-1 filings to call their licensed individuals — broker-dealers liable for dealing with the creation and redemption of baskets of shares for ETFs.
Whereas the step is usually taken without any consideration in conventional ETF creations, it drew consideration in Bitcoin ETF functions as a result of some business watchers had expressed issues that Bitcoin funds would have a more durable time attracting broker-dealers.
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