BlackRock Spot Bitcoin ETF In active Discussions With The SEC For Launch

Key Points:

• The asset management company advanced BlackRock spot Bitcoin ETF talks in the fourth SEC meeting.
• The SEC holds discussions with Fidelity, Franklin Templeton, and Grayscale on spot Bitcoin ETFs.
• Analysts anticipate a 90% likelihood of the SEC approving spot bitcoin ETFs by January 10, as discussions persist for the 13 applications in review.

BlackRock, the world’s largest asset manager, engaged in its fourth meeting with the U.S. Securities and Exchange Commission (SEC) to discuss the BlackRock Spot Bitcoin ETF. 

Ongoing Talks with SEC Propel BlackRock Spot Bitcoin ETF Plans

The meeting, involving SEC Chairman Gary Gensler and direct staff, took place on December 11, as per an official filing. This follows a series of similar meetings held with potential issuers throughout the past month, including Fidelity Investments, Franklin Templeton, and Grayscale Investments.

The discussions centered on the company’s revised application for a BlackRock Spot Bitcoin ETF, specifically addressing the “iShares Bioin Trust under NASDAQ Rules 57119(d).” The strategic adjustment aims to simplify the process for Wall Street banks, facilitating more direct engagement with the cryptocurrency space through the BlackRock Spot Bitcoin ETF.

In addition to BlackRock, Grayscale and Franklin Templeton met with the SEC on December 8 and Fidelity Investments on December 7. All these meetings focused on spot bitcoin ETF issuers and their applications. These issuers have filed Forms 19b-4 and S-1 with the SEC, with the former recording rule changes and the latter serving as a registration statement.

Market analysts, including Bloomberg’s James Seyffart, note a 90% chance of the SEC approving spot bitcoin ETFs by January 10. Currently, the SEC is reviewing 13 applications from various issuers.

The ongoing discussions and revisions underscore the financial industry’s increasing interest in navigating regulatory pathways for more direct involvement with cryptocurrency markets.

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