Bitcoin ETF

Bitcoin

James

<div class="cryptonews">
 <p class="is-style-lead">Bloomberg Intelligence ETF research analyst James Seyffart reports that BlackRock and Grayscale, two major investment major companies with plans to issue a Bitcoin ETF, have recently met with the SEC.</p>
 <p>Based on slides that have become public knowledge, Seyffart shows that BlackRock likely prefers in-kind for their offering.</p>
 <h2 class="wp-block-heading" id="in-kind-vs-cash">In-kind vs. cash</h2>
 <p>In highlighting this announcement, the analyst suggests that this decision makes sense as it is likely the cleanest structure for the company and its investors.</p>
 <p>The news came alongside a consecutive report that Grayscale, another prominent investment management firm, has also held <a rel="noopener noreferrer nofollow" title="meeting" href="https://thebittimes.com/tag/meeting.html">meeting</a>s with the SEC’s division of trading and markets, responsible for approving or denying 19b-4, a form that is used to inform the SEC of a proposed rule change.</p>
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    <p lang="en" dir="ltr">Looks like @BlackRock also met with SEC! There’s a couple slides in relation to in-kind vs cash creation. Based on this it looks like BlackRock prefers in-kind for their #bitcoin ETF (makes sense as its probably cleanest structure for them &amp; end investors) <br>h/t @btcNLNico https://t.co/AK0XspL4zJ pic.twitter.com/eeuUT9T5mn</p>— James Seyffart (@JSeyff) November 22, 2023
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 <p>Although only the two firms were mentioned by name, Seyffart shares that rumors indicate other potential spot Bitcoin ETF issuers were <a rel="noopener noreferrer nofollow" title="meeting" href="https://thebittimes.com/tag/meeting.html">meeting</a> with the SEC over the last week.</p>
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  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> ARK Invest discloses 80 bps fee in spot Bitcoin ETF filing
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 <h2 class="wp-block-heading" id="bitcoin-etf-approval-coming-soon">Bitcoin ETF approval coming soon?</h2>
 <p>News around the release of spot ETFs has continued to spark excitement in the community.</p>
 <p>On Nov. 19 it was&nbsp;reported&nbsp;that the XRP community experienced a surge of excitement following the emergence of a filing for a BlackRock iShares XRP Trust on Nov. 13, propelling the token to $0.73. The filing was later proven to be false, as stated by industry commentators, including Bloomberg ETF analyst Eric Balchunas, leading to an immediate sell-off of the asset.</p>
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  <div class="wp-block-embed__wrapper"><iframe title="What a spot bitcoin ETF could mean for the future of crypto" width="1020" height="574" src="https://www.youtube.com/embed/QDqCn-fb29o?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe>
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 <p>It is clear the crypto community is actively seeking any positive news on ETF <a rel="noopener noreferrer nofollow" title="issuance" href="https://thebittimes.com/tag/issuance.html">issuance</a> to grasp onto, with this announcement being just one more in the waiting period.</p>
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  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Bloomberg analysts estimate spot Bitcoin ETF market to hit $100b
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bloomberg-blackrock-and-grayscale-meeting-with-sec-about-bitcoin-etf-issuance-tbt71258.html">https://thebittimes.com/bloomberg-blackrock-and-grayscale-meeting-with-sec-about-bitcoin-etf-issuance-tbt71258.html</a></p>

Bloomberg: BlackRock and Grayscale meeting with SEC about Bitcoin ETF issuance

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