Bitcoin ETF

Bitcoin

James

<p class="is-style-lead">Asset manager BlackRock met again with representatives of the U.S. Securities and Exchange Commission (SEC).</p> 
<p>Bloomberg analyst James Seyffart reported that BlackRock’s meeting on Dec. 19 is the 24th meeting that SEC representatives have held with companies that have applied to open a spot Bitcoin (<a href="https://crypto.news/price/bitcoin/">BTC</a>) exchange-traded fund (<a href="https://crypto.news/tag/etf/">ETF</a>).</p> 
<p>Before meeting with the SEC, BlackRock <a href="https://crypto.news/blackrock-pivots-to-cash-based-redemptions-in-spot-bitcoin-etf-proposal/">revised</a> its application to include a new mechanism for redeeming shares into fiat money. </p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">BlackRock met AGAIN with the SEC today. This brings the total number of official SEC meetings between current <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#Bitcoin</a> ETF filers to 24. <a href="https://t.co/7JUErsdSCH" target="_blank">https://t.co/7JUErsdSCH</a> <a href="https://t.co/ZpSiXSvGxk" target="_blank">pic.twitter.com/ZpSiXSvGxk</a></p>— James Seyffart (@JSeyff) <a href="https://twitter.com/JSeyff/status/1737223838138798469?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">December 19, 2023</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>In addition to BlackRock, the NASDAQ stock market representatives were present at the meeting.</p> 
<blockquote class="wp-block-quote"> 
 <p>“The discussion concerned The NASDAQ Stock Market’s proposed rule change to list and trade shares of the iShares Bitcoin Trust under NASDAQ Rule 5711 (d).”</p> <cite>SEC memorandum</cite>
</blockquote> 
<p>BlackRock also added the ticker IBIT to its application to register a spot Bitcoin ETF, which Bloomberg Intelligence analyst Eric Balchunas called a positive sign.</p> 
<p>However, Seyffart notes that at <a href="https://crypto.news/sec-meets-with-blackrock-for-ishares-bitcoin-etf/">the latest meeting</a> no developments have so far changed his mind regarding the timing of the first spot Bitcoin ETF approval, a decision the analyst expects between Jan. 8 – 10. </p> 
<p>Commenting on the latest statement by Michael Novogratz, CEO of Galaxy, that the approval of spot Bitcoin ETFs will happen in the next 8-10 weeks, Seyffart says he believes it will happen sooner, but that ultimately it is anyone’s guess as to when the decision will finally come down from the SEC.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">I personally will take the under on 8-10 weeks. But there's no way to know for certain. Absolutely forced to pick a date i'd guess the first ones list by mid to late january. But thats just a complete guess.</p>— James Seyffart (@JSeyff) <a href="https://twitter.com/JSeyff/status/1737226360630993024?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">December 19, 2023</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>On Jun. 15, BlackRock <a href="https://crypto.news/blackrock-nears-bitcoin-etf-filing-partnering-with-coinbase-custody/">submitted</a> an application to the Commission for an investment product based on the first cryptocurrency. Following the financial giant, similar requests came from Valkyrie, Fidelity Investments, <a href="https://crypto.news/asset-manager-wisdomtree-files-bitcoin-etf-application/">WisdomTree</a>, and <a href="https://crypto.news/invesco-submits-new-spot-bitcoin-etf-application/">Invesco</a>. On Aug. 31, the regulator postponed its decision on several Bitcoin ETFs until mid-October. At the end of September, the department delayed the consideration of applications to January 2024.</p> 
<p> Read more: <a href="https://crypto.news/standard-chartered-says-blackrock-etf-approval-will-drive-165-btc-price-pump-btcetf-token-surge/"> Standard Chartered says BlackRock ETF approval will drive 165% BTC price pump, BTCETF Token surge </a> </p>

BlackRock meets with SEC for 24th time to discuss Bitcoin ETF

crypto.news

Other articles published on Dec 20, 2023

XRP Manages to Hold Above $0.60 Level as Bulls Striving Hard

Crypto Espionage Unveiled: Poland Sentences 14 ‘Spies’ For Sabotage

Virtual Gaming Revolution: Quest 3 Redefines Flatscreen Gaming in VR

Bitcoin surges to $44,000, fuels $100m call option trades

Cardano’s Record-Breaking Rally: Targeting $1 in 2024!

Crypto Market Sees Mixed Movements as BTC Struggles Below $43K

Join our free newsletter for daily crypto updates!