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BlackRock Challenges SEC Over Bitcoin and Ethereum ETFs, Arguing They Are Similar to Futures ETFs

BlackRock Challenges SEC Over Bitcoin and Ethereum ETFs, Arguing They Are Similar to Futures ETFs

By Daisy Hodley Nov 12, 202344Views
Bitcoin ,Crypto ,Crypto Market ,Ethereum ,Financial ,Regulations

BlackRock Challenges SEC on Spot Bitcoin and Ethereum ETFs

BlackRock, the largest asset management firm globally, is challenging the U.S. Securities and Exchange Commission (SEC) regarding spot market Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs). In a new filing, BlackRock argues that the regulatory agency should approve spot market crypto ETFs since it has already approved futures ETFs.

BlackRock contends that the SEC is misapplying the Investment Company Act of 1940 to spot ETFs. The firm believes that the distinction created by the SEC between futures ETFs and spot market ETFs is arbitrary.

Last week, BlackRock registered its iShares Ethereum trust in Delaware, a move similar to its registration of its Bitcoin trust.

Hot Take

Investment titan BlackRock is challenging the SEC’s distinction between futures ETFs and spot market ETFs. The firm argues that the regulatory agency should approve spot market crypto ETFs since it has already approved futures ETFs. This challenge could have significant implications for the cryptocurrency market if successful.

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Daisy Hodley
Daisy Hodley
Daisy Hodley emerges as a luminary blending the roles of crypto analyst, devoted researcher, and editorial virtuoso into a harmonious symphony. In the realm of digital currencies, Daisy's insights resonate with an exquisite resonance across a diverse spectrum of minds. Her adeptness in decoding intricate threads of crypto complexities seamlessly intertwines with her editorial finesse, translating intricacy into a captivating melody of understanding. A guiding star for both intrepid explorers and curious novices venturing into the crypto realm, Daisy's insights form a compass for discerning decision-making amidst the ever-shifting currents of cryptocurrencies. With the touch of a literary artist, they craft a narrative that enriches the evolving mosaic of the crypto landscape.
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BlackRock Challenges SEC Over Bitcoin and Ethereum ETFs, Arguing They Are Similar to Futures ETFs