Fidelity files updated version of its Bitcoin spot ETF application

Fidelity has submitted an updated version of its S-1 filing to the SEC for its Bitcoin spot ETF “Wise Origin Bitcoin Trust.” Topics mentioned in the new version include: detailed specification of escrow arrangements; clarification of mechanisms related to hard forks; emphasis on valuation and pricing sources and compliance with GAAP (Generally Accepted Accounting Principles); enhanced risk disclosures regarding regulatory uncertainty; acknowledgment The energy-intensive nature of the mining industry. Bloomberg ETF analyst James Seyffart posted on the X platform that there is more evidence that potential spot Bitcoin ETF issuers are communicating with the SEC about the changes/revisions required for the agency to consider approval. This is a positive sign. More publishers may submit updated versions in the coming weeks and months.