Bitcoin ETF

Bitcoin

James

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 Asset management titan BlackRock submitted an amended S-1 filing with the US Securities and Exchange Commission (SEC) for its proposed spot Bitcoin ETF (exchange-traded fund) on December 4, while Bitwise also filed an amendment for its application.
 Analysts say these latest amendments signal ongoing discussions with the regulator that are helping to fuel anticipation of SEC approvals in January.
 “The wheel is still turning,” tweeted Bloomberg Intelligence analyst James Seyffart. “Both the SEC and these issuers are working hard to iron things out. These filings are likely the result of many conversations and a lot of man hours on/between both sides.”
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 What does this mean? Without having read them — it just means that the wheel is still turning. Both the SEC and these issuers are working hard to iron things out. These filings are likely the result of many conversations and a lot of man hours on/between both sides.
 — James Seyffart (@JSeyff) December 4, 2023
 </blockquote>
 
 In its updated filing, BlackRock rephrased the language related to what measures it would take to monitor for unusual price movements. The amendment also covered anti-money laundering compliance and included an audited statement from PricewaterhourseCoopers.
 The regulator has not yet approved a spot Bitcoin Fund and has delayed all of the applications it has received to date.
 <h2 id="span-style-font-weight-400-blackrock-addresses-unresolved-questions-around-bitcoin-etf-span">Blackrock Addresses ”Unresolved Questions” Around Bitcoin ETF</h2>
 But anticipation is building that approvals are imminent. After BlackRock met with the SEC last month, it said the regulator had ”certain unresolved questions” around balance sheet impacts and around balance sheet impacts.&nbsp;&nbsp;BlackRock then proposed a solution that could address the concerns brought forward by the SEC.
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 If the only issue here is the balance sheet of the US BD market maker, than BlackRock's proposal *should* satisfy the concern. The only difference with the prior in-kind model is creating a cash receivable from the off-shore MM to the on-shore MM and then transferring the cash…
 — Scott Johnsson (@SGJohnsson) November 29, 2023
 </blockquote>
 
 Scott Johnson from Van Buren Capital speculated in an X post that BlackRock’s proposal “should” satisfy concerns brought forward by the SEC if the only issue is the balance sheet US BD market maker.
 He continued by saying that the SEC “is obviously giving multiple issuers the same or very similar instructions.”
 <h3 id="span-style-font-weight-400-related-articles-span">Related Articles:</h3>
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 <li style="font-weight: 400">Pando Asset Enters Spot Bitcoin ETF Race While Blackrock And SEC Meet Again</li>
 <li style="font-weight: 400">Why The Humbling Of Binance And CZ Is A Boon For BlackRock, Spot Bitcoin ETFs And New $BTCETF Token That’s Raised $1.34m</li>
 <li style="font-weight: 400">Crypto Investment Inflows Surge To Highest Since October 2021 As Bitcoin Dominates</li>
 </ul>
 Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bitcoin-etf-approvals-inch-closer-as-blackrock-and-bitwise-submit-revised-filings-tbt72646.html">https://thebittimes.com/bitcoin-etf-approvals-inch-closer-as-blackrock-and-bitwise-submit-revised-filings-tbt72646.html</a>
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Bitcoin ETF Approvals Inch Closer As BlackRock And Bitwise Submit Revised Filings

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TheBitTimes

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