BlackRock's iShares Bitcoin Trust Files S-1/A Amendment No. 8

TL;DR

**BlackRock just pushed its Bitcoin ETF closer to launch, big for crypto access!**

AI Summary

BlackRock's iShares Bitcoin Trust filed Amendment No. 8 to its S-1 Registration Statement on January 9, 2024, signaling a significant step towards launching its spot Bitcoin ETF. This filing, under Registration Statement No. 333-272680, updates the trust's information, including its sponsor, iShares Delaware Trust Sponsor LLC, located at 400 Howard Street, San Francisco, CA. For investors, this matters because the approval and launch of a spot Bitcoin ETF by a major player like BlackRock could dramatically increase institutional and retail access to Bitcoin, potentially driving up demand and price, while also offering a regulated investment vehicle.

Why It Matters

This filing brings BlackRock's spot Bitcoin ETF closer to approval, potentially opening up Bitcoin investment to a much wider audience through a regulated and easily accessible product.

Risk Assessment

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

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 exposure to Bitcoin through regulated channels if this ETF is approved.

Key Numbers

• No. 8 — Amendment Number (Indicates this is the eighth amendment to the original S-1 filing, suggesting ongoing updates and progress towards approval.)
• 333-272680 — Registration Statement Number (Unique identifier for the iShares Bitcoin Trust's registration with the SEC, crucial for tracking its regulatory journey.)
• 20240109 — Date As Of Change (The specific date of the latest changes included in this amendment, indicating very recent updates to the filing.)

Key Players & Entities

• iShares Bitcoin Trust (company) — Registrant of the S-1/A filing
• iShares Delaware Trust Sponsor LLC (company) — Sponsor of the iShares Bitcoin Trust
• BlackRock, Inc. (company) — Parent company, represented by legal counsel Marisa Rolland and Adithya Attawar
• Clifford R. Cone, Esq. (person) — Legal counsel from Clifford Chance US LLP
• Jason D. Myers, Esq. (person) — Legal counsel from Clifford Chance US LLP
• Marisa Rolland, Esq. (person) — Legal counsel from BlackRock, Inc.
• Adithya Attawar, Esq. (person) — Legal counsel from BlackRock, Inc.
• January 9, 2024 (date) — Date S-1/A Amendment No. 8 was filed with the SEC
• 333-272680 (dollar_amount) — Registration Statement Number for the iShares Bitcoin Trust

Forward-Looking Statements

• The iShares Bitcoin Trust will receive SEC approval for its spot Bitcoin ETF. (iShares Bitcoin Trust) — high confidence, target: Q1 2024
• The launch of BlackRock's Bitcoin ETF will attract significant institutional capital into the crypto market. (Bitcoin market) — medium confidence, target: Q2 2024

FAQ

From the Filing

0001437749-24-001043.txt : 20240110 0001437749-24-001043.hdr.sgml : 20240110 20240109205644 ACCESSION NUMBER: 0001437749-24-001043 CONFORMED SUBMISSION TYPE: S-1/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240110 DATE AS OF CHANGE: 20240109 FILER: COMPANY DATA: COMPANY CONFORMED NAME: iShares Bitcoin Trust CENTRAL INDEX KEY: 0001980994 STANDARD INDUSTRIAL CLASSIFICATION: FINANCE SERVICES [6199] 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: 333-272680 FILM NUMBER: 24524700 BUSINESS ADDRESS: STREET 1: C/O ISHARES DELAWARE TRUST SPONSOR, LLC STREET 2: 400 HOWARD STREET CITY: SAN FRANCISCO STATE: CA ZIP: 94105 BUSINESS PHONE: 415-670-6416 MAIL ADDRESS: STREET 1: C/O ISHARES DELAWARE TRUST SPONSOR, LLC STREET 2: 400 HOWARD STREET CITY: SAN FRANCISCO STATE: CA ZIP: 94105 S-1/A 1 bit20240109_s1a.htm FORM S-1/A bit20240109_s1a.htm Table of Contents As filed with the Securities and Exchange Commission on January 9, 2024. Registration Statement No. 333-272680 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 AMENDMENT NO. 8 TO FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 i SHARES ® BITCOIN TRUST SPONSORED BY iSHARES DELAWARE TRUST SPONSOR LLC (Exact name of Registrant as specified in its charter) Delaware 6221 93-6461129 (State or other jurisdiction of incorporation or organization) (Primary Standard Industrial Classification Code Number) (I.R.S. Employer Identification No.) c/o iShares Delaware Trust Sponsor LLC 400 Howard Street, San Francisco, CA 94105 Attn: Product Management Team, iShares Product Research & Development (415) 670-2000 (Address, including zip code, and telephone number, including area code, of Registrant ’ s principal executive offices) iShares Delaware Trust Sponsor LLC 400 Howard Street, San Francisco, CA 94105 Attn: Product Management Team, iShares Product Research & Development (415) 670-2000 (Name, address, including zip code, and telephone number, including area code, of agent for service) Copies to: Clifford R. Cone, Esq. Jason D. Myers, Esq. Clifford Chance US LLP 31 West 52nd Street New York, NY 10019 Marisa Rolland, Esq. Adithya Attawar, Esq. BlackRock, Inc. 400 Howard Street San Francisco, CA 94105 Approximate date of commencement of proposed sale to the public: As soon as practicable after this Registration Statement becomes effective. 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: ☒ Table of Contents 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 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, a 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 compan