The global exchange-traded fund (ETF) provider WisdomTree filed an amended S-1 form spot Bitcoin (BTC) ETF prospectus with the United States Securities and Exchange Commission (SEC) on Nov. 16.
The update comes a few months after WisdomTree refiled its spot Bitcoin ETF application in June 2023, proposing a rule change to list and trade shares of the WisdomTree Bitcoin Trust on the BZX Exchange by the Chicago Board Options Exchange (CBOE).
The amended prospectus mentions that the WisdomTree Bitcoin Trust ETF will trade under a ticker symbol BTCW, with Coinbase Custody Trust serving as the custodian and will hold all of the trust’s Bitcoin on its behalf.
According to Bloomberg ETF analyst James Seyffart, the updated S-1 form spot Bitcoin ETF filing by WisdomTree means that the firm is still planning to launch an ETF and is discussing the opportunity with the SEC.
“All issuers were expected to have to file one of these to potentially launch their ETF at some point. Just a step in the process. Nothing critical,” Seyffart wrote on X (formerly Twitter).
Another Bloomberg ETF expert, Eric Balchunas, noticed that WisdomTree took “long enough” to amend their S-1 form Bitcoin ETF filing. “Please tell me the SEC isn’t waiting till all S-1s are updated before issuing a second round of comments,” he added.
According to Seyffart’s data, only two spot Bitcoin ETF filers out of a total of 12 firms that have filed for such a product in the U.S. are yet to amend their S-1 filings with the SEC, including Franklin Templeton and Global X.
Okay, we’re nearing in on deadline dates for 3 spot #Bitcoin ETF applications. I want to get ahead of it because there’s a pretty good chance we’ll see delay orders from the SEC. Delays WOULD NOT change anything about our views & 90% odds for 19b-4 approval by Jan 10, 2024 pic.twitter.com/LE7sOlHAHM
Global X, another firm that hasn’t amended its S-1 filing yet, is also awaiting its second spot Bitcoin ETF deadline on Nov. 21.
Bloomberg ETF analysts like Seyffart expect the SEC to do another round of delays on decisions regarding the upcoming deadlines in the near future. However, Seyffart still believes the delays would not alter his perspective of the 90% likelihood of the SEC approving a spot Bitcoin ETF before the end of January 2024.
Kemi Badenoch has accused Sir Keir Starmer of “lying to the whole country” about what he knew regarding Peter Mandelson’s correspondence with Jeffrey Epstein.
Lord Mandelson was this week stripped of his position as ambassador to the US amid fresh scrutiny over his years-long friendship with the convicted paedophile.
The prime minister initially defended the Labour peer but removed him from his post on Thursday after newly seen emails revealed he sent messages of support to Epstein even as he faced jail for sex offences in 2008.
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3:04
Lord Mandelson – the unanswered questions
The Times has now reported that Downing Street and the Foreign Office were aware of the emails on Tuesday – a day before Sir Keir gave Lord Mandelson his backing at Prime Minister’s Questions (PMQs).
In a post on X, Conservative leader Ms Badenoch wrote: “Looks like the Prime Minister and Labour MPs spent the week lying to the whole country about what they knew regarding Mandelson’s involvement with convicted paedophile Jeffrey Epstein.”
She continued: “If No 10 had those emails for 48 hours before acting, it means he lied at PMQs and ministers lied again about new additional information. These are yet more errors of judgment.
“The Prime Minister has very serious questions to answer. The only way to clear this up is full transparency about who knew what, and when.”
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Sources said Sir Keir was not aware of the contents of the emails when he told MPs he had “confidence” in Lord Mandelson.
A media enquiry outlining details of the messages between Lord Mandelson and Epstein was sent to the Foreign Office on Tuesday, and passed on to Number 10.
Sir Oliver Robbins, the permanent under-secretary at the Foreign Office, asked Lord Mandelson about the emails on Tuesday, but did not receive a response until the following day.
Sir Keir is understood not to have been aware of the contents of the emails until Wednesday evening.
Speaking to Sky News, one Labour MP has called for more information on what happened behind closed doors at No 10 this week.
Jo White, MP for Bassetlaw, in Nottinghamshire, said: “We cannot move on until we find out how he [Sir Keir] was not briefed properly before PMQs.”
“What he needs to do now is get on top and sort out this mess,” she said. “Suspend the whip from Peter Mandelson and expel him from the party, then have a transparent enquiry about what went wrong at No.10.”
This came as Sir Keir enjoyed some time away from Downing Street.
The prime minister was on Saturday pictured watching Arsenal face Nottingham Forest in a Premier League match at the Emirates Stadium.
Image: Arsenal fan Sir Keir cheered on his side as they won 3-0. Pic: Reuters
Lord Mandelson’s exit came after less than a fortnight after another high-profile loss for the Labour government, as Angela Rayner was forced to quit as deputy prime minister and deputy Labour leader over her tax affairs.
As Sir Keir has faced a scandal-hit start to the month, a growing number of Labour MPs have begun calling his leadership into question.
Lucy Powell, who is running to replace Ms Rayner as Labour’s deputy leader, has called for a “change of culture” at Downing Street.
“We’ve got a bit of a groupthink happening at the top, that culture of not being receptive to interrogation, not being receptive to differing views,” she told The Guardian newspaper.
Meanwhile, senior Labour MP Emily Thornberry has written to the new foreign secretary, Yvette Cooper, demanding answers about the vetting process for UK diplomats in the wake of Lord Mandelson’s sacking.
A man has admitted arson after a major fire at an MP’s constituency office.
Joshua Oliver, 28, pleaded guilty to starting the fire which destroyed the office of Labour MP Sharon Hodgson, at Vermont House in Washington, Tyne and Wear.
The fire also wrecked a small charity for people with very rare genetic diseases and an NHS mental health service for veterans.
The guilty plea was entered at Newcastle Magistrates’ Court on the basis that it was reckless rather than intentional.
Image: Hodgson, who has been an MP since 2005, winning her seat again in 2019. Pic: Reuters
The Crown did not accept that basis of plea.
Oliver, of no fixed address, had been living in a tent nearby, the court heard.
Northumbria Police previously said it was “alerted to a fire at a premises on Woodland Terrace in the Washington area” shortly after 12.20am on Thursday.
“Emergency services attended and no one is reported to have been injured in the incident,” it added.
Drone footage from the scene showed extensive damage to the building.
A spokesperson for the Crown Prosecution Service said: “Our prosecutors have worked to establish that there is sufficient evidence to bring the case to trial and that it is in the public interest to pursue criminal proceedings.
“We have worked closely with Northumbria Police as they carried out their investigation.”
Oliver was remanded in custody and will appear at Newcastle Crown Court on Tuesday, 14 October.