BlackRock's Continued Dialogue with SEC on Bitcoin ETFs

• BlackRock Continues Dialogue with the SEC on Spot Bitcoin ETF
• Recent BlackRock-SEC Meeting Details
• Spot Bitcoin ETF Approval Anticipation
• New Amendment in BlackRock's S1 Filing with the SEC
• SEC Postpones Deadlines for Spot BTC ETF Decision

BlackRock Continues Dialogue with the SEC on Spot Bitcoin ETF

BlackRock has yet again convened a meeting with the Securities and Exchange Commission (SEC) to deliberate on its Spot Bitcoin$42,260 -0.64% ETF. This marks the 24th such meeting between the SEC and Spot Bitcoin ETF application filers and the fifth such assembly involving BlackRock.

Recent BlackRock-SEC Meeting Details

The most recent meeting between BlackRock and the SEC revolved around discussions on the "iShares Bioin Trust under NASDAQ Rules 57119(d)." Notably, SEC Chair Gary Gensler, who was present in the preceding meeting, was absent this time. This is the third meeting in a span of seven business days between BlackRock and the SEC, hinting at possible progress in the discussions. The recent remarks by Gensler on reevaluating Bitcoin ETFs seem to add momentum to these talks.

Spot Bitcoin ETF Approval Anticipation

For a considerable duration of the past few months, the probability of the approval of a Spot Bitcoin ETF has been a significant news item. With over a dozen applications presently submitted, expectations are running high for the investment product to materialize early next year.

New Amendment in BlackRock's S1 Filing with the SEC

On a recent Tuesday, BlackRock incorporated a new amendment in its S1 filing with the SEC concerning its Bitcoin ETF application. The amendment stipulates that the asset management company will employ a cash-only strategy for its ETF. It will only accept cash and purchase Bitcoin to generate shares.

SEC Postpones Deadlines for Spot BTC ETF Decision

The US SEC has deferred all its 2023 deadlines regarding its verdict on a spot BTC ETF. If any are approved next year, the entire cryptocurrency market could witness a massive rally, spearheaded by the leading crypto asset Bitcoin.

Edited by Jonathan Stoker