BlackRock met with SEC officials to discuss spot Bitcoin ETF

Representatives from BlackRock and the Nasdaq met with the United States Securities and Exchange Commission to sermon the projected regularisation allowing the listing of a spot Bitcoin (BTC) exchange-traded fund, oregon ETF.

According to a Nov. 20 SEC memo, BlackRock provided a presumption detailing however the steadfast could usage an in-kind oregon in-cash redemption exemplary for its iShares Bitcoin Trust. It’s unclear however SEC officials responded to the 2 projected models oregon if they mean to o.k. a spot BTC ETF aft galore delays and rejections.

Looks similar @BlackRock besides met with SEC! There’s a mates slides successful narration to in-kind vs currency creation. Based connected this it looks similar BlackRock prefers in-kind for their #bitcoin ETF (makes consciousness arsenic its astir apt cleanest operation for them & extremity investors)
h/t @btcNLNico https://t.co/AK0XspL4zJ pic.twitter.com/eeuUT9T5mn

Many reports person suggested the SEC could beryllium nearing a determination connected a spot BTC ETF for listing connected U.S. markets, an support that would beryllium 1 of the astir important affirmative trends toward mainstream crypto adoption. SEC officials besides met with Grayscale representatives connected Nov. 20 successful the firm’s bid for listing a Bitcoin ETF.

Related: Spot Bitcoin ETF: Why this clip is different

BlackRock is 1 of galore firms with spot crypto ETF applications successful the SEC pipeline awaiting a response, including Fidelity, WisdomTree, Invesco Galaxy, Valkyrie, VanEck and Bitwise. The plus absorption institution archetypal applied for listing a spot BTC ETF successful June connected the Nasdaq banal exchange.

A video of SEC seat Gary Gensler from 2019 resurfaced successful October, criticizing the commission’s “inconsistent” attack to spot BTC products. It’s unclear whether the SEC seat volition get down efforts for crypto-linked concern vehicles, but the committee has antecedently approved ETFs tied to Bitcoin and Ether (ETH) futures.

Magazine: Crypto regulation: Does SEC Chair Gary Gensler person the last say?