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SEC accepts BlackRock’s Bitcoin ETF application

United States Securities and Exchange Commission (SEC). Accepts BlackRock’s exchange-traded fund application (ETFs) bitcoins (bitcoin) Stainafter accepting a similar question bitwise the previous day.

Diagnostics SEC indicates Beginning of official review process for BlackRock’s ETF proposal. While this is the first step in a long regulatory journey, it is of great importance to the Bitcoin community. The SEC’s willingness to explore the idea of ​​a Bitcoin ETF and assess its potential impact on the market is evident from this recognition.

ETFs are mutual funds that usually track certain indices and are usually traded on an exchange.. In the cryptocurrency industry, a fund that reflects the value of one or more digital tokens and contains several cryptocurrencies is known as a cryptocurrency ETF.

Friday, July 14, editor he declared Applications for various funds, including Wise Origin Bitcoin Trust, WisdomTree Bitcoin Trust, VanEck Bitcoin Trust and Invesco Galaxy Bitcoin ETF. This move shows companies acknowledging the growing demand for regulated Bitcoin investment vehicles and their willingness to meet customers’ needs.

input BlackRock Inc.In the .ETF race, Bitcoin Spot is important because of its relevance to the financial industry. In BlackRock’s application for the Bitcoin Spot ETF, the asset manager included a deal: “surveillance sharing”, In partnership with Coinbase, cryptocurrency exchange. The company’s decision to launch a Bitcoin ETF highlights the growing adoption and recognition of cryptocurrencies in the traditional financial sector.

Competition between companies aspiring to be the first to launch a Bitcoin ETF in the United States A positive development for the cryptocurrency industry. Your chances of success increase by submitting more applications, as different approaches and proposals allow the SEC to consider different strategies and address potential concerns.

Bitcoin Spot ETFs have been rejected by the SEC since 2017. But in Canada the financial product is already available. Three big funds — Purpose Bitcoin, 3iQ CoinShares and CI Galaxy Bitcoin — invest directly in Bitcoin spot.

Translation of Matteo Carrone

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