Bitwise and VanEck disclosed important information to financial regulators, such as the company's business model, financial statements, detailed information about the management team, and any legal or competitive risks in the S-1 documents submitted to the SEC on Monday. Bitwise and VanEck warned investors of the potential risks of investing in a Bitcoin ETF in their respective documents.

VanEck warned in its document that the value of Bitcoin and the value of trust shares could quickly fall, even to zero. You may lose all of your investment, and neither the Federal Deposit Insurance Corporation nor any other government agency or individual or entity has insured or guaranteed these shares.

Bitwise wrote: The Bitcoin network and other digital asset networks represent a rapidly changing new industry, whose further development and acceptance are influenced by various difficult-to-evaluate factors. The slowdown or cessation of development or acceptance of the Bitcoin network may have an adverse effect on stock investments.