Rule

Bitcoin ETF

Bitcoin

Spot

<p>In what is being seen as a significant step towards the integration of Bitcoin into conventional financial markets, representatives from BlackRock, Nasdaq, and the Securities and Exchange Commission (SEC) convened for a crucial discussion.</p> 
<p>This second meeting in a month focused on the rule changes necessary for the listing of a Bitcoin (BTC) exchange-traded fund (ETF).</p> 
<p><img decoding="async" src="https://www.coindesk.com/resizer/gCAPU7wgvmQaxqqFyytM-BMVMXU=/560x510/filters:quality(80):format(jpg)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/XNVD65GKF5BAPLEYRPP3R2YSGI.png" alt="(CoinDesk)" title="Bitcoin ETF: One step closer to Wall Street? Nasdaq, BlackRock, and SEC in critical huddle 26"></p> 
<h2 id="key-discussion-points">Key Discussion Points</h2> 
<p>The central topic of the meeting was Nasdaq’s proposal to list the iShares Bitcoin Trust under Rule 5711(d).</p> 
<p>This rule sets stringent criteria and regulatory guidelines for listing Commodity-Based Trust Shares on the Nasdaq Exchange, ensuring market integrity and protection against fraud.</p> 
<p>The discussions are believed to revolve around enhancing market surveillance and compliance to mitigate risks associated with crypto trading, a significant concern for the SEC.</p> 
<p>In November, BlackRock presented two models for the proposed ETF— in-kind and in-cash redemption. Recently, they revised their proposal to include cash redemptions, a move seen as aligning with SEC preferences.</p> 
<h3 id="market-reactions-and-expectations">Market Reactions and Expectations</h3> 
<p>The potential listing of a Bitcoin ETF on Nasdaq has stirred the financial community. Michael Saylor of MicroStrategy, in a recent interview with Bloomberg TV, expressed that the approval of Bitcoin ETFs could be a groundbreaking development for Wall Street.</p> 
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"> 
 <p lang="en" dir="ltr">The <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">$BTC</a> Spot ETF may be the biggest development on Wall Street in the last 30 years. My discussion of <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">#Bitcoin</a> in 2024, Spot ETFs vs. <a href="https://twitter.com/search?q=%24MSTR&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">$MSTR</a>, and the emergence of bitcoin as a treasury reserve asset with <a href="https://twitter.com/kaileyleinz?ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">@KaileyLeinz</a> on Bloomberg <a href="https://twitter.com/crypto?ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">@Crypto</a>. <a href="https://t.co/QtPdBOhMDr" rel="nofollow" target="_blank">pic.twitter.com/QtPdBOhMDr</a></p> 
 <p>— Michael Saylor<img src="https://s.w.org/images/core/emoji/14.0.0/72x72/26a1.png" alt="⚡" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@saylor) <a href="https://twitter.com/saylor/status/1737186267148832795?ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">December 19, 2023</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<p>He predicts a substantial bullish trend for Bitcoin in 2024, driven by increased demand and supply dynamics.</p> 
<p>The meetings between these financial giants and regulatory bodies signify a turning point in the acceptance and regulation of cryptocurrencies.</p> 
<p>The successful listing of a Bitcoin ETF on Nasdaq would not only bolster <a href="https://crypto.ro/en/cryptocurrencies/bitcoin/">Bitcoin’s</a> legitimacy but also pave the way for more cryptocurrencies to enter mainstream financial markets.</p>

Bitcoin ETF: One step closer to Wall Street? Nasdaq, BlackRock, and SEC in critical huddle

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