Gensler's Moment of Truth: BlackRock's Bitcoin ETF Awaits SEC Approval in Pivot
The U.S. Securities and Exchange Commission (SEC) has accepted an
application from BlackRock, the world’s largest asset manager, for a
spot Bitcoin exchange-traded fund (ETF). The move indicates the
beginning of an official review process. This acceptance comes a day
after a similar acknowledgment of Bitwise’s application and shows the
SEC’s readiness to explore the concept of a spot Bitcoin ETF and its
possible market implications. BlackRock’s filing included a
“surveillance-sharing” agreement with cryptocurrency exchange Coinbase.
While the SEC hasn’t yet approved a spot Bitcoin ETF in the U.S., the
acceptance of applications from various funds, such as Wise Origin
Bitcoin Trust, WisdomTree, VanEck, and Invesco Galaxy, is seen as a
positive development for the crypto industry. Meanwhile, spot Bitcoin
ETFs are already available in Canada.
cointelegraph.com
SEC accepts BlackRock’s Bitcoin ETF application, signaling regulatory review
The SEC has accepted BlackRock’s Bitcoin ETF application, signaling the start of the review process.
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