Bitcoin ETF

Bitcoin

James

A surge in applications for spot Bitcoin (BTC) and <a href="https://news.todayq.com/proshares-announces-its-fourth-ethereum-etf-the-short-ether-strategy-etf/" target="_blank" rel="noreferrer noopener">Ether (ETH) exchange-traded funds</a> (ETFs) has rejuvenated the crypto market following setbacks in the last year. A spot crypto ETF would allow investors to gain exposure to the underlying crypto asset’s market price and that too without directly purchasing the currency. The U.S. Securities and Exchange Commission (SEC) is expected to reconsider its stance on spot Bitcoin ETFs. BlackRock in Talks with SEC 
As per reports, It appears that there are ongoing developments in the crypto ETF space. Reportedly, financial giants like <a href="https://news.todayq.com/blackrock-faces-2-5-million-sec-fine-amid-bitcoin-etf-review/" target="_blank" rel="noreferrer noopener">BlackRock engaging</a> with the Securities and Exchange Commission (SEC).&nbsp; 
James Seyffart, an expert on ETFs and cryptos asset management at Bloomberg highlighted meetings between BlackRock and the SEC. It focused on the structure of their proposed Bitcoin ETF. According to Seyffart, BlackRock seems to favor in-kind creations for their Bitcoin ETF. It is being viewed as a cleaner structure for both the company and end investors. 
Additionally, Grayscale has reportedly held meetings with the SEC’s division of trading and markets. It is responsible for approving or denying 19b-4 applications and plays a crucial role in the ETF approval process. Rumors also suggest that other potential spot Bitcoin ETF issuers have engaged in discussions with the SEC over the past week. ETF incoming? 
Eric Balchunas, Senior ETF Analyst at Bloomberg shared that BlackRock and ARK seem to be advocates for in-kind creations due to their perceived benefits for investors in terms of spreads and taxes. However, he mentioned that the SEC is reportedly advising entities to opt for cash creates in order to prevent the use of unregistered brokers. 
It is important to note the relationship between major financial institutions, regulatory watchdogs like the SEC, and bodies linked to cryptocurrency investments. As major players navigate the complexities of ETF structures, the SEC’s guidance and potential regulatory requirements continue to shape the future of digital assets investment products in traditional financial markets. 
© Todayq News

Bitcoin ETFs gain traction, SEC meetings unveil trends

Todayq News

Alte articole publicate pe 22 nov. 2023

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