SEC Adds Blackrock’s Bitcoin ETF Application to Docket, Seeks Public Comments
The U.S. securities regulator just gave the green light to Blackrock’s application for a bitcoin ETF. It’s a big deal, but there’s still a long road ahead. Here’s the breakdown:
- Blackrock, the world’s largest asset management firm, has filed for a spot bitcoin ETF.
- The SEC will open a 21-day window for public comments on the proposal.
- The application’s addition to the SEC’s docket is a positive sign for the future of crypto-based investments in the U.S.
- Blackrock has chosen Coinbase as the custodian for its Ishares Bitcoin Trust.
- Other companies like Bitwise, Wisdom Tree, and Fidelity have also filed applications for bitcoin ETFs.
This is a big step forward for the crypto community, but let’s not get too excited just yet. The SEC has previously denied approval for bitcoin ETFs due to concerns about market manipulation and investor protection. However, the number of applications and Blackrock’s involvement have sparked optimism that a bitcoin ETF could finally be approved in the United States. Meanwhile, Europe is already on track to launch its first bitcoin ETF by the end of July. It looks like the world is slowly but surely embracing crypto investments.
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