After the recent changes to the Form S-1 for the Bitcoin ETF by WisdomTree, Franklin Templeton and Global X are the only two remaining companies yet to update their S-1 filings.

WisdomTree, a global ETF provider, submitted a revised Form S-1 for its spot Bitcoin ETF to the SEC on November 16, following a previous refile in June 2023. The updated filing proposes a rule change to list and trade shares of the WisdomTree Bitcoin Trust on the BZX Exchange by the Chicago Board Options Exchange (CBOE).

The ETF is expected to trade under the ticker symbol BTCW, and Coinbase Custody Trust will serve as the custodian holding the trust’s Bitcoin.

According to ETF analyst James Seyffart from Bloomberg, WisdomTree’s amended filing indicates the company’s ongoing plans to launch an ETF and ongoing discussions with the SEC.

Seyffart views this as a regular step in the process, stating, “All issuers were expected to have to file one of these to potentially launch their ETF at some point. Just a step in the process. Nothing critical.”

Eric Balchunas, another Bloomberg ETF expert, expressed concern about the time taken by WisdomTree to amend its filing, hoping the SEC wouldn’t wait for all S-1s to be updated before issuing additional comments.

Seyffart’s data reveals that only Franklin Templeton and Global X, out of 12 U.S. firms, are yet to amend their S-1 filings with the SEC.

Franklin Templeton faces its first spot Bitcoin ETF deadline on November 17, while Global X awaits its second deadline on November 21. Hashdex, initially set for November 17, had its deadline moved to January 1, 2024, by the SEC.

Despite expectations of further delays in SEC decisions on upcoming deadlines, Seyffart maintains a 90% likelihood of the SEC approving a spot Bitcoin ETF before the end of January 2024.