BlackRock and Nasdaq representatives meet with the SEC
If approved, a spot BTC ETF would be a positive step toward mainstream crypto adoption. This would be a breakthrough for the spot BTC ETF in the U.S. BlackRock is one of many firms with spot crypto ETF applications in the SEC pipeline. The asset management company first applied for listing a spot BTC ETF in June on the Nasdaq stock exchange.
SEC Chair’s concerns
SEC Chair Gary Gensler has criticized the commission’s “inconsistent” approach to spot BTC products. Nonetheless, the approval of ETFs tied to Bitcoin and Ether (ETH) futures has been okayed by the commission.
Hot Take: The Prospects for a Spot BTC ETF
The meeting between BlackRock and Nasdaq with the SEC indicates that a positive momentum could be building towards an eventual approval of a spot Bitcoin ETF for U.S. markets. Despite Gensler’s prior criticism, there may be a chance that the commission could be moving towards a supportive stance on cryptocurrency investment products moving forward.
The ETF landscape could be poised for a significant shift, pending the SEC’s eventual position on the matter. This development bears watching for those interested in crypto investment opportunities. While the path forward for a spot BTC ETF remains uncertain, it could represent a significant step forward for mainstream crypto adoption.
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