BlackRock & SEC: Another Round of Talks for Bitcoin ETF Approval

• BlackRock and SEC Continue Discourse on Spot Bitcoin ETF
• Fourth Consultation Between BlackRock and SEC Over Bitcoin ETF Proposal
• Gensler's Remarks Incite Speculation on Approval

BlackRock and SEC Continue Discourse on Spot Bitcoin ETF

BlackRock, the renowned asset management firm, and the U.S. Securities and Exchange Commission (SEC) convened for the fourth time to deliberate on the Spot Bitcoin$42,260 -0.64% ETF. Official filings reveal that the meeting took place recently, continuing the sequence of similar discussions held with other potential issuers over the previous month. James Seyffart, a Bloomberg analyst, reported that the conference involved SEC chairman Gary Gensler and his immediate team. Furthermore, the filings highlighted that the meetings concerned the iShares Bioin Trust under NASDAQ Rules 57119(d).

Fourth Consultation Between BlackRock and SEC Over Bitcoin ETF Proposal

Over the past few months, the potential approval of a Spot Bitcoin ETF has been a prominent subject in the news. With over a dozen applications currently filed, the likelihood of the investment product launching early next year has caused a surge of anticipation. This enthusiasm has amplified due to the numerous meetings taking place between the main regulatory agency and one issuer.

Notably, BlackRock and the SEC had their fourth meeting regarding the former's application for a Spot Bitcoin ETF. Additionally, this discussion followed three previous ones held within as many weeks. Furthermore, Seyffart confirmed that SEC Chairman Gensler steered this meeting.

Gensler's Remarks Incite Speculation on Approval

Gensler made news when he commented on the proliferation of ongoing applications. Specifically, he noted that court mandates have compelled the agency to review these various applications again, leading many to infer that these statements are setting the stage for a potential approval.

Both Seyffart and other analysts have shared their expectations regarding the approval of the investment product. They highlighted that the decision on the offering will likely be made between January 5th and 10th, with any announcement on approval expected to be public by January 8th of the upcoming year.

Edited by Jonathan Stoker