Bitwise Bitcoin ETF Files 5th S-1/A Amendment, Nears Launch

TL;DR

**Bitwise just filed its 5th S-1/A, signaling its Bitcoin ETF is almost ready to launch!**

AI Summary

Bitwise Bitcoin ETF filed an S-1/A amendment on January 9, 2024, marking the fifth amendment to its registration statement (No. 333-260235). This filing indicates the fund is moving closer to launching its spot Bitcoin ETF, with the proposed sale to the public commencing "as soon as practicable after the effective date." This matters to investors because the approval and launch of a spot Bitcoin ETF by Bitwise could significantly increase institutional access to Bitcoin, potentially driving up demand and price for the underlying asset, Bitcoin, and offering a new, regulated investment vehicle for those considering exposure to cryptocurrency.

Why It Matters

This filing signals that the Bitwise Bitcoin ETF is nearing regulatory approval and launch, which could open up Bitcoin investment to a broader market and potentially impact Bitcoin's price and accessibility.

Risk Assessment

Risk Level: medium — While the filing moves closer to launch, regulatory approval is not guaranteed, and the cryptocurrency market remains volatile.

Analyst Insight

A smart investor would monitor the SEC's decision on this and other spot Bitcoin ETF applications closely, as approval could trigger significant market movement for Bitcoin and related crypto assets. Consider potential entry points post-approval.

Key Numbers

• 5 — Amendment Number (This is the fifth amendment to the S-1 registration statement, indicating ongoing progress towards launch.)
• 20240109 — Filing Date (The date this S-1/A amendment was filed with the SEC, showing recent activity.)
• 800-778-7879 — Business Phone (Contact number for Bitwise Bitcoin ETF's principal executive offices.)

Key Players & Entities

• Bitwise Bitcoin ETF (company) — registrant of the S-1/A filing
• 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
• 333-260235 (dollar_amount) — Registration No. for the S-1 filing

Forward-Looking Statements

• The Bitwise Bitcoin ETF will receive SEC approval for launch in Q1 2024. (Bitwise Bitcoin ETF) — high confidence, target: 2024-03-31
• The launch of the Bitwise Bitcoin ETF will contribute to increased institutional investment in Bitcoin. (Bitcoin) — medium confidence, target: 2024-12-31

FAQ

From the Filing

0001999371-24-000248.txt : 20240109 0001999371-24-000248.hdr.sgml : 20240109 20240109100648 ACCESSION NUMBER: 0001999371-24-000248 CONFORMED SUBMISSION TYPE: S-1/A PUBLIC DOCUMENT COUNT: 4 FILED AS OF DATE: 20240109 DATE AS OF CHANGE: 20240109 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: 24522047 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_010924.htm AMENDMENT TO FORM S-1 As filed with the Securities and Exchange Commission on January 9, 2024 Registration No. 333-260235 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Amendment No. 5 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 p