SEC initiates official comment phase for the Blackrock Bitcoin ETF - first approved ETF in sight in the USA?
SEC initiates official comment phase for the Blackrock Bitcoin ETF - first approved ETF in sight in the USA?
The US stock exchange supervision SEC has initiated an official comment phase for Blackrock's application on a Bitcoin ETF. This is evaluated by market observers as a possible sign for the first approval of such an ETF.
In the USA, it has been discussed for weeks whether the SEC allows a Bitcoin ETF for the first time. So far, the supervisory authority has rejected all applications, most recently at the end of June. Nevertheless, well -known applicants such as Blackrock remain persistent and submit additional documents to get their Bitcoin ETFs approved. BLACKROCK is given special attention, since the company has already successfully enforced many other ETFs at the SEC. Blackrock has now improved his Bitcoin ETF documents at the SEC, and these were officially advertised for comment.
There are 21 days to make comments, and the only fact that the SEC asks the public for comment on a Bitcoin ETF is considered a permit by market observers. Blackrock plans to launch his Bitcoin ETF through the subsidiary Ishares Bitcoin Trust in collaboration with Coinbase. In the revised application version, further details were introduced, as a fair price determination ensured and the Bitcoin ETF is to be protected against market manipulation. Blackrock reacts directly to earlier criticisms of the Sec.
In addition to Blackrock, at least four other applicants are currently trying to register a Bitcoin ETFS: Wise Origin Bitcoin Trust, Wisdomtree Bitcoin Trust, Vaneck Bitcoin Trust and Invalco Galaxy Bitcoin ETF. Investors in this topic are great because the approval of a Bitcoin ETFs in the USA could mark the beginning of a rally. Bitcoin (BTC) The first and most important cryptocurrency is difficult for many institutional investors to integrate into their portfolios because there is no ETF based on the spot market. If Blackrock or others would be able to convince the SEC, this could lead to a large capital inflow in Bitcoin and thus increase the price.
In summary, it can be said that the SEC has a critical attitude towards cryptocurrencies this year and, among other things, has taken legal action against the big crypto besides Binance and Coinbase. On the other hand, the SEC recently suffered a severe legal defeat against Ripple (XRP). It will be shown in the coming months whether this leads to the fact that the SEC gives up its blockage keeping to a Bitcoin ETF. It remains to be seen whether the first Bitcoin ETF will be a reality in the United States in 2023.
Kommentare (0)