Bloomberg reported that the updated 19b-4 filing for the Bitcoin spot ETF applicant was gradually released on the SEC website, indicating an important step towards ETF approval. According to the SEC official website, multiple fund applicants have submitted updated Bitcoin spot ETF S-1 documents, with fee standards ranging from 0.24% to 0.5%.

But that process typically takes a few days to two weeks, and the SEC is expediting it this week. As a result, Bitcoin (BTCUSD) briefly topped $47,000 and is up more than 7% in the past 24 hours. The current price is $46,633. Standard Chartered Bank predicts that BTC will reach $200,000 in 2024. MicroStrategy’s Bitcoin holdings saw a staggering increase of more than $3 billion as the price of Bitcoin rose. There are currently 189,150 Bitcoins owned by the firm at an average purchase price of $31,168 per coin.

According to its latest revised S-1 filing, VanEck has invested $72.5 million in seed capital into its Bitcoin spot ETF. In its turn, BlackRock has invested $10 million in seed funding into its Bitcoin spot ETF. Seed funds are where banks and investment firms invest to buy shares (in this case, Bitcoin) in exchange for shares of the ETF that can be traded on the public market on its first day of trading. Bloomberg's analysts believe the availability of seed funding could lead to an ETF launch soon.