BlackRock, Fidelity among bitcoin ETFs primed for launch as S-1 filings become effective

The SEC has approved 11 firms to launch spot bitcoin ETFs

article-image

Artwork by Crystal Le

share

Now that the Securities and Exchange Commission has officially given 11 spot bitcoin ETFs the greenlight to launch the first spot bitcoin ETF, let’s look at the issuers who made it across the finish line.

While there have been 14 proposals filed for bitcoin ETFs, the list after New Years was lowered to 11 proposals. Ark 21Shares, BlackRock, VanEck, Fidelity and Franklin Templeton are included in that number.

The firms were granted approval via the 19b-4s late Wednesday, though the funds can’t start trading until the S-1s — a necessary registration document — are made effective by the agency.

The registration filings detailed the fees as well as other details, including the authorized participants. All 11 filers plan to use Jane Street as one of their authorized participants. 

APs are entities that both create and redeem shares of an ETF. Shares are then exchanged for a similar basket of securities that reflect the ETF’s holdings or for cash.

Grayscale’s ETF came in with the highest fee at 1.5%, and Bitwise came in with the lowest at 20 basis points, though it’s waiving its fee for the first six months of $1 billion.

Both Grayscale and Bitwise confirmed that their ETFs would start trading Thursday. Fidelity and WisdomTree told Blockworks that their S-1 statements are now effective. 

Loading Tweet..

BlackRock confirmed to Blockworks via email that it plans to launch on Thursday, Jan. 11.

“Through IBIT, investors can access bitcoin in a cost-effective and convenient way,” said Dominik Rohe, Head of Americas iShares ETF and Index Investing business at BlackRock.

Valkyrie CEO Leah Wald told Blockworks that the firm is “locked and loaded” though the staff may be facing a sleepless night as they prepare for the launch. 

A handful of potential issuers filed fresh amendments to their S-1s in late December, which disclosed a number of nitty gritty details necessary for fund launches. 

Among those, BlackRock, Invesco (in partnership with Galaxy Digital), Valkyrie, Fidelity and WisdomTree unveiled their authorized participants in filings. 

Now that the SEC’s granted approval for the bitcoin ETFs, another race begins: Marketing. Hashdex, VanEck and Bitwise launched ads or teasers for ads ahead of the SEC’s approval. 

Blockworks previously reported that the marketing race is expected to really kick off as firms fight for assets.

“We don’t think the SEC will approve just one; they will probably approve a group of them,” Ark Invest CEO Cathie Wood said back in an October interview. “And that means it will become a marketing battle.”

Ben Strack contributed reporting.


Get the news in your inbox. Explore Blockworks newsletters:

  • Blockworks Daily: The newsletter that helps thousands of investors understand crypto and the markets, by Byron Gilliam.
  • Empire: Start your morning with the top news and analysis to inform your day in crypto.
  • Forward Guidance: Reporting and analysis on the growing intersection of crypto and macroeconomics, policy and finance.
  • 0xResearch: Alpha directly in your inbox. Market highlights, data, degen trade ideas, governance updates, token performance and more.
  • Lightspeed: Built for Solana investors, developers and community members. The latest from one of crypto’s hottest networks.
  • The Drop: For crypto collectors and traders, covering apps, games, memes and more.
  • Supply Shock: Tracking Bitcoin’s rise from internet plaything worth less than a penny to global phenomenon disrupting money as we know it.
Tags

Upcoming Events

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Research

article-image

A memecoin short squeeze pushed Hyperliquid to the brink — and revealed decentralization limits

article-image

Tools for Humanity’s Developer Reward pilot program kicks off on April 1

article-image

Blockworks Research analyst Boccaccio explains the HyperLiquid controversy and why they need to adjust risk and margin

article-image

What Grayscale’s watching going into the second quarter and why crypto had a rough start to the year

article-image

Sol’s price drop was partially triggered by one of the year’s more chaotic memecoin events

article-image

Are digital assets just part of “normal” finance conversations now?