SEC’s Bitcoin ETF review in final stage – Reuters report

2 months ago 22

Discussions with SEC progressing

Discussions are underway between the Securities and Exchange Commission (SEC) and the applicant company regarding important technical details regarding the listing application for a Bitcoin exchange-traded fund (ETF) in the United States, with the possibility of approval of the product soon. Something was suggested. Reuters reported this, citing industry executives.

It was previously reported that the SEC met with BlackRock, Grayscale, Invesco, ARK Invest, Fidelity, and others in November, but according to this latest Reuters report, the meetings so far have mainly focused on the SEC’s trading and market The meeting was with staff from the department and the corporate finance division, and in recent meetings appeared to be with staff from Commissioner Gary Gensler’s office. Additionally, the pace of requests for information from the SEC has accelerated from once every few months to once a week.

connection:“Bitcoin ETF approval will be a decisive blow to support institutional investors” ARK CEO Wood

If a physical ETF for the virtual currency Bitcoin is approved by the SEC, it is expected that institutional investors in traditional finance will be able to more easily enter the Bitcoin market and increase the value of their assets.

As for the latest developments, it was revealed on Monday that leading candidates BlackRock and Bitwise had resubmitted revised applications (Form S-1) to the SEC. There is growing speculation that the SEC is preparing for simultaneous approval.

Regarding BlackRock’s application, the company reported to the SEC on the 4th that it received $100,000 in seed funding on October 27th.

connection: BlackRock raises $100,000 in seed funding through Bitcoin ETF application

connection:Learn about Bitcoin ETFs from the beginning: Explaining the advantages and disadvantages of investing and how to buy US stocks

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