NASDAQ Resubmits Application for BlackRock’s Bitcoin ETF
Nasdaq has resubmitted its application to the U.S. Securities and Exchange Commission (SEC) seeking approval for BlackRock’s bitcoin exchange-traded fund (ETF). This comes after the SEC expressed concerns about the initial submission. The updated filing includes additional details and addresses these concerns.
Main Breakdowns:
– Nasdaq resubmits application for BlackRock’s bitcoin ETF to the SEC.
– Updated filing includes additional details and addresses concerns raised by the SEC.
– Coinbase to collaborate with Nasdaq by providing market surveillance for the proposed ETF.
– SEC has previously rejected spot bitcoin ETF applications due to compliance concerns.
– Nasdaq’s updated filing and collaboration with Coinbase aim to meet regulatory requirements for a successful bitcoin ETF.
SEC Remains Defiant
The SEC has been resistant to approving spot bitcoin ETF applications, citing concerns about compliance and investor protection. However, Nasdaq’s updated filing and partnership with Coinbase demonstrate efforts to address these concerns. This development reflects the ongoing push for greater accessibility and regulatory compliance in the digital asset market.
Hot Take
Nasdaq’s resubmission of the application for BlackRock’s bitcoin ETF shows a commitment to overcoming regulatory hurdles and bringing a bitcoin ETF to the market. The collaboration with Coinbase for market surveillance further enhances the credibility and compliance of the proposed ETF. While the SEC’s final decision is yet to be announced, these efforts indicate a growing acceptance and normalization of bitcoin and other digital assets in the financial industry.
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