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Bitcoin ETF

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 Representatives from the U.S. Securities and Exchange Commission also met with Grayscale on Nov. 20 in the asset manager’s bid for listing a Bitcoin ETF.
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 Representatives from BlackRock and the Nasdaq met with the United States Securities and Exchange Commission to <a rel="noopener noreferrer nofollow" title="discuss" href="https://thebittimes.com/tag/discuss.html">discuss</a> the proposed rule allowing the listing of a spot Bitcoin (BTC) exchange-traded fund, or ETF.
 According to a Nov. 20 SEC memo, BlackRock provided a presentation detailing how the firm could use an in-kind or in-cash redemption model for its iShares Bitcoin Trust. It’s unclear how SEC <a rel="noopener noreferrer nofollow" title="officials" href="https://thebittimes.com/tag/officials.html">officials</a> responded to the two proposed models or if they intend to approve a spot BTC ETF after numerous delays and rejections.
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 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) h/t @btcNLNico https://t.co/AK0XspL4zJ pic.twitter.com/eeuUT9T5mn— James Seyffart (@JSeyff) November 22, 2023
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 Many reports have suggested the SEC could be nearing a decision on a spot BTC ETF for listing on U.S. markets, an approval that would be one of the most significant positive trends toward mainstream crypto adoption. SEC <a rel="noopener noreferrer nofollow" title="officials" href="https://thebittimes.com/tag/officials.html">officials</a> also met with Grayscale representatives on Nov. 20 in the firm’s bid for listing a Bitcoin ETF.
 Related: Spot Bitcoin ETF: Why this time is different
 BlackRock is one of many firms with spot crypto ETF applications in the SEC pipeline awaiting a response, including Fidelity, WisdomTree, Invesco Galaxy, Valkyrie, VanEck and Bitwise. The asset management company first applied for listing a spot BTC ETF in June on the Nasdaq stock exchange.
 A video of SEC chair Gary Gensler from 2019&nbsp;resurfaced in October, criticizing the commission’s “inconsistent” approach to spot BTC products. It’s unclear whether the SEC chair will get behind efforts for crypto-linked investment vehicles, but the commission has previously approved ETFs tied to Bitcoin and Ether (ETH) futures.
 Magazine: Crypto regulation: Does SEC Chair Gary Gensler have the final say?
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Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/blackrock-met-with-sec-officials-to-discuss-spot-bitcoin-etf-tbt71272.html">https://thebittimes.com/blackrock-met-with-sec-officials-to-discuss-spot-bitcoin-etf-tbt71272.html</a>

BlackRock met with SEC officials to discuss spot Bitcoin ETF

TheBitTimes

Alte articole publicate pe 22 nov. 2023

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