Bitcoin is the new gold and a global asset as per BlackRock CEO.
US SEC staff often meets with ETF applicants to provide more clarification on their position.
The U.S. SEC will meet with BlackRock, Fidelity Investments, and other spot Bitcoin ETF registrants next week. After resubmitting their applications to the U.S. SEC, all spot ETF hopefuls have now included information on their surveillance-sharing partners and other prerequisites.
Bloomberg’s ETF experts Eric Balchunas and James Seyffart tweeted on Tuesday that they had a trustworthy source on next week’s meeting between the U.S. Securities and Exchange Commission and Bitcoin ETF applicants. Balchunas thinks they need to get together and discuss the potential of a spot Bitcoin ETF and the necessary changes to the regulations.
Normal Protocol Post Filing
Following an official filing, US SEC staff often meets with ETF applicants to decide on approval or rejection and provide more clarification on their position. Nonetheless, the crypto sector would benefit greatly from a meeting to approve spot Bitcoin, since the SEC under Chair Gary Gensler has repeatedly rejected a spot Bitcoin ETF despite allowing other comparable ETFs.
The first leveraged Bitcoin futures exchange-traded fund, Volatility Shares 2x Bitcoin Strategy ETF, was authorized by the US SEC last month after a rush of Bitcoin ETF registrations.
And now that they know the specifics of their surveillance-sharing agreements, several firms have resubmitted their spot Bitcoin ETF. On the other hand, on Wednesday, BlackRock CEO Larry Fink stated that the company’s application for an ETF is a “way to democratize crypto and make it cheaper.”
Bitcoin, he says, is the new gold and a global asset. BlackRock is applying for the first Bitcoin exchange-traded fund (ETF) and intends to collaborate with authorities to do so. As predicted by Bloomberg’s experts, trading a Bitcoin ETF will only cost 0.01% on all prominent crypto platforms.