Bitcoin ETF

Bitcoin

Gary

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 <p class="paragraph">In early January, the U.S. Securities and Exchange Commission (SEC) looks set to potentially mark an essential development in crypto history by approving the inaugural spot Bitcoin (BTC) exchange-traded fund (ETF).</p>
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 <p class="paragraph">Insiders from these companies indicate that recent indications from SEC officials suggest a probable approval by January 10, 2024. This date marks the ultimate deadline for the SEC to either grant or deny approval for the first company seeking the SEC’s endorsement for a spot Bitcoin ETF, as reported by <em>Fox Business</em> on December 20.</p>
 <p class="paragraph">Several firms, including financial powerhouses on Wall Street, such as BlackRock (NYSE: BLK) and Fidelity, have submitted applications for a spot BTC ETF, which is valued based on the real-time price of the digital asset.</p>
 <h2 class="wp-block-heading" id="h-what-would-approval-mean-for-the-crypto-industry">What would approval mean for the crypto industry</h2>
 <p class="paragraph">Should the anticipated approval materialize, it will signify a significant stride toward the widespread acceptance of cryptocurrency in the United States.</p>
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 <p class="paragraph">This development marks a shift, especially for SEC Chairman Gary Gensler, who had hesitated to endorse such initiatives. This reluctance persisted until a recent ruling by the U.S. Court of Appeals for the D.C. Circuit, which curtailed some of his regulatory authority over crypto.</p>
 <p class="paragraph">A spot Bitcoin ETF presents an opportunity for retail investors to access the world’s largest cryptocurrency at a lower cost than the already sanctioned Bitcoin ETF, which derives its pricing from the futures market.&nbsp;</p>
 <p class="paragraph">Furthermore, investors can gain exposure to Bitcoin without resorting to unregulated exchanges by acquiring an ETF through meticulously regulated money management firms. Additionally, trading occurs on reputable platforms like the New York Stock Exchange and Nasdaq stock market.</p>
 <h2 class="wp-block-heading" id="h-blackrock-is-leading-the-initiative">BlackRock is leading the initiative</h2>
 <p class="paragraph">BlackRock, the largest global asset manager with $9 trillion in assets under management, has prioritized securing SEC approval for its proposed Bitcoin ETF as a key corporate objective, according to information reported by <em>FOX Business</em>. Larry Fink, the founder and CEO of BlackRock, has characterized Bitcoin as an “international asset” and a “store of value,” positioning it as a contender to the longstanding status of gold.</p>
 <p class="paragraph">A provider of over 400 traditional ETFs, it has engaged in five meetings with the SEC regarding its spot Bitcoin ETF application. The <a rel="noopener noreferrer nofollow" title="latest" href="https://thebittimes.com/tag/latest.html">latest</a> meeting took place on December 19. The SEC has conducted approximately 24 meetings with different ETF applicants, indicating a concerted effort by the agency to expedite the approval process and bring these ETFs to market in the upcoming year.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/sec-could-greenlight-spot-bitcoin-etf-by-january-10-here-s-the-latest-tbt74414.html">https://thebittimes.com/sec-could-greenlight-spot-bitcoin-etf-by-january-10-here-s-the-latest-tbt74414.html</a></p>

SEC could greenlight spot Bitcoin ETF by January 10; Here’s the latest

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