BlackRock has filed an amended version of its spot Bitcoin ETF application, addressing additional risks that investors may face. The filing warns of risks related to Bitcoin itself, stating that the market is unregulated and lacks transparency. BlackRock also acknowledges the competition it faces from other ETF applicants. The filing includes information on how BlackRock will calculate Bitcoin's price using an aggregate from several spot Bitcoin exchanges. There is optimism that a Bitcoin ETF will be approved, with the SEC showing a change in behavior and asking constructive questions. Galaxy Digital CEO Mike Novogratz predicts that a spot Bitcoin ETF will likely be approved within the next three months.

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