BlackRock filed a new application with the SEC for a Bitcoin Spot ETF

Blackrock Filed A New Application With The Sec For A Bitcoin Spot Etf

BlackRock filed a new application with the SEC for a Bitcoin Spot ETF. Managing director Larry Fink recently stated that he was in close contact with the authority. That’s why he is confident. Now the contact is apparently bearing fruit. The new registration is intended to increase the chance of success of approval.

BlackRock: New application for Bitcoin ETF reaches SEC

Asset manager BlackRock submitted a new application for a Bitcoin Spot ETF to the SEC yesterday, according to a public document .

The aim of this seems to be further adjustments in order to finally bring the first Bitcoin Spot ETF in the USA onto the market. BlackRock has been pursuing this goal since June and has since made initial changes to the application.

The SEC repeatedly expressed criticism of the details of how the ETF was handled and of competing exchange-traded funds – such as those from Fidelity or WisdomTree. Many US asset managers are currently racing to create the country’s first Bitcoin Spot ETF.

BlackRock CEO Larry Fink recently commented on the issue. He is now convinced of the long-term success of Bitcoin . Through offerings like his company’s ETF – the iShares Bitcoin Trust – he wants to make investing as easy as possible for investors.

Fink also made it clear that he wants to maintain close contacts with the SEC in order to find a common consensus and finally bring the ETF to market. BlackRock is far from the first company with this goal. So far, however, every asset manager’s application for a Bitcoin Spot ETF has failed.

The Securities and Exchange Commission has repeatedly stated that concerns about manipulation and fraud drive these decisions. The risk is too high for investors and can hardly be alleviated by the SEC.

Bitcoin price rises by eight percent

The Bitcoin price is rising by around eight percent in the weekly trend. The ongoing news about the first Bitcoin Spot ETF in the USA is likely to be behind this development. BlackRock plays the main role.

Some critics deny that the SEC will approve such a fund any time soon. Fink, however, explained in his most recent interview that they maintain a good relationship with the SEC. His confidence is correspondingly high.

At press time, BTC is trading at $28,620. A false report that said the iShares Bitcoin Trust had already been approved catapulted the price of the largest cryptocurrency to almost $30,000 in a very short time before a correction occurred. The market expectations are obviously huge.

Stay tuned for daily cryptocurrency news!

Experienced ETF experts from Bloomberg are currently expecting confirmation of the first Bitcoin Spot ETFs in spring 2024. Then many deadlines for the SEC will expire. Admission at an earlier or later date is also possible.

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