Representatives from BlackRock and Nasdaq recently engaged in discussions with the United States Securities and Exchange Commission (SEC).
Representatives from BlackRock and Nasdaq recently engaged in discussions with the United States Securities and Exchange Commission (SEC) regarding the possibility of listing a spot Bitcoin exchange-traded fund (ETF). In a memo released by the SEC on November 20, it was revealed that BlackRock presented two potential redemption models for its iShares Bitcoin Trust: one involving in-kind transactions and the other using cash.
There is increasing speculation that the SEC may be nearing a decision on approving a spot Bitcoin ETF for U.S. markets. However, uncertainty surrounds the response of SEC officials and the likelihood of approval, given the history of delays and rejections in this area. During the same period, representatives from Grayscale also met with SEC officials, as they too seek to list their own Bitcoin ETF.
BlackRock is among several firms that have submitted applications for spot crypto ETFs, awaiting a response from the SEC. Notable applicants include Fidelity, WisdomTree, Invesco Galaxy, Valkyrie, VanEck, and Bitwise. BlackRock initially applied for a spot Bitcoin ETF listing on the Nasdaq stock exchange back in June.
The outcome of these meetings and the potential decision by the SEC regarding a spot Bitcoin ETF is being closely monitored by the cryptocurrency industry and investors.
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