Bitwise Bitcoin ETF Files S-1/A Amendment, Nearing Public Offering

TL;DR

**Bitwise just amended its S-1 for a Bitcoin ETF, signaling it's almost ready to launch!**

AI Summary

Bitwise Bitcoin ETF filed an Amendment No. 4 to its S-1 Registration Statement on January 8, 2024, updating its information with the SEC. This filing, under Registration No. 333-260235, indicates the fund is moving closer to potentially offering its shares to the public. For investors, this matters because it signals progress towards a spot Bitcoin ETF, which could increase accessibility to Bitcoin for a broader range of investors and potentially drive demand for the underlying asset, impacting the stock's value.

Why It Matters

This amendment brings the Bitwise Bitcoin ETF closer to launch, potentially opening up a new, regulated avenue for investors to gain exposure to Bitcoin without directly holding the cryptocurrency.

Risk Assessment

Risk Level: medium — While the filing itself is procedural, the underlying asset (Bitcoin) carries significant volatility and regulatory risks, making the investment medium risk.

Analyst Insight

Investors considering exposure to Bitcoin should monitor the SEC's decision on this and other spot Bitcoin ETF applications, as approval could provide a more regulated and accessible investment vehicle.

Key Numbers

• 333-260235 — Registration No. (Identifies the specific registration statement for the Bitwise Bitcoin ETF.)
• 20240108 — Filed As Of Date (Indicates the most recent date of the filing, showing it's a very recent update.)
• 800-778-7879 — Business Phone (Contact number for Bitwise Bitcoin ETF's business operations.)
• 83-6613214 — I.R.S. Employer Identification No. (Unique tax identification number for the registrant.)
• 20 — Public Document Count (Number of documents associated with this filing, indicating its comprehensive nature.)

Key Players & Entities

• Bitwise Bitcoin ETF (company) — Registrant filing the S-1/A
• January 8, 2024 (date) — Date of S-1/A filing
• 333-260235 (dollar_amount) — Registration number for the S-1 filing
• Bitwise Investment Advisers, LLC (company) — Adviser and principal executive office for the registrant
• Richard Coyle, Esq. (person) — Legal counsel from Chapman and Cutler LLP
• James Audette, Esq. (person) — Legal counsel from Chapman and Cutler LLP
• Katherine Dowling, Esq. (person) — Legal counsel from Bitwise Investment Advisers, LLC

Forward-Looking Statements

• The Bitwise Bitcoin ETF will receive SEC approval for its spot Bitcoin ETF within the next month. (Bitwise Bitcoin ETF) — medium confidence, target: 2024-02-08
• The launch of the Bitwise Bitcoin ETF will lead to increased institutional investment in Bitcoin. (Bitcoin) — high confidence, target: 2024-12-31

FAQ

From the Filing

0001839882-24-000524.txt : 20240108 0001839882-24-000524.hdr.sgml : 20240108 20240108074610 ACCESSION NUMBER: 0001839882-24-000524 CONFORMED SUBMISSION TYPE: S-1/A PUBLIC DOCUMENT COUNT: 20 FILED AS OF DATE: 20240108 DATE AS OF CHANGE: 20240108 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Bitwise Bitcoin ETF CENTRAL INDEX KEY: 0001763415 STANDARD INDUSTRIAL CLASSIFICATION: [6221] ORGANIZATION NAME: 09 Crypto Assets IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: S-1/A SEC ACT: 1933 Act SEC FILE NUMBER: 333-260235 FILM NUMBER: 24518365 BUSINESS ADDRESS: STREET 1: 300 BRANNAN STREET STREET 2: SUITE 201 CITY: SAN FRANCISCO STATE: CA ZIP: 94107 BUSINESS PHONE: 800-778-7879 MAIL ADDRESS: STREET 1: 300 BRANNAN STREET STREET 2: SUITE 201 CITY: SAN FRANCISCO STATE: CA ZIP: 94107 FORMER COMPANY: FORMER CONFORMED NAME: Bitwise Bitcoin ETF Trust DATE OF NAME CHANGE: 20231201 FORMER COMPANY: FORMER CONFORMED NAME: BITWISE BITCOIN ETP TRUST DATE OF NAME CHANGE: 20211012 FORMER COMPANY: FORMER CONFORMED NAME: BITWISE BITCOIN ETF TRUST DATE OF NAME CHANGE: 20190103 S-1/A 1 bitcoin-s1a_010824.htm AMENDMENT TO FORM S-1 As filed with the Securities and Exchange Commission on January 8, 2024 Registration No. 333-260235 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Amendment No. 4 to FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 Bitwise Bitcoin ETF (Exact name of registrant as specified in its charter) Delaware 83-6613214 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) c/o Bitwise Investment Advisers, LLC 250 Montgomery Street, Suite 200 San Francisco, California 94104 (415) 707-3663 (Address, including zip code, and telephone number, including area code, of registrant’s principal executive offices and for service of process purposes) Copies to: Richard Coyle, Esq. James Audette, Esq. Chapman and Cutler LLP 320 South Canal Street, 27 th Floor Chicago, Illinois 60606 (312) 845-3724 Katherine Dowling, Esq. Bitwise Investment Advisers, LLC 250 Montgomery Street, Suite 200 San Francisco, California 94104 (415) 707-3663 Approximate date of commencement of proposed sale to the public: As soon as practicable after the effective date of this Registration Statement. If any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933 check the following box: ☒ If this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, please check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering: ☐ If this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐ If this Form is a post-effective amendment filed pursuant to Rule 462(d) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐ Indicate by check mark whether the registrant is a large, accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large, accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. Large accelerated filer ☐ Accelerated filer ☐ Non-accelerated filer ☒ Smaller reporting company ☒ Emerging growth company ☒ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition