The SEC has accepted applications from six firms, which includes BlackRock, to launch spot bitcoin exchange-traded funds for evaluation, the first stage in the process by the agency to decide whether if they approve the newest wave of proposals. Among firms that are also formally acknowledged for similar spot bitcoin ETFs are from BitWise, VanEck, …
The SEC has accepted applications from six firms, which includes BlackRock, to launch spot bitcoin exchange-traded funds for evaluation, the first stage in the process by the agency to decide whether if they approve the newest wave of proposals. Among firms that are also formally acknowledged for similar spot bitcoin ETFs are from BitWise, VanEck, WisdomTree, Fidelity and Invesco.
Previously, the SEC has rejected dozens of spot bitcoin ETF applications, claiming that they did not meet anti-fraud and investor protection standards. However, BlackRock, the largest asset manager in the world announced that it would address those concerns by collaborating with Coinbase, the largest U.S. based cryptocurrency exchange earlier this month in agreeing with police trade in the underlying bitcoin market. A similar surveillance system in identical filings were also proposed by CBOE Global Markets.
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Please note that this article does not offer any instructions or suggestions regarding investment decisions. Therefore, it is essential that you carefully evaluate your financial situation and conduct thorough analysis, or seek advice from a qualified professional, before making any investment decisions.
