SEC takes new meetings with BlackRock, Grayscale as high-level Bitcoin ETF talks continue

The U.S. Securities and Exchange Commission (SEC) continued its reappraisal process of Bitcoin ETF applications, holding 2 further meetings with applicants Grayscale and BlackRock connected Dec. 19, 2023.

The meeting with Grayscale revolved astir a projected regularisation change, which, if approved, would licence NYSE Arca to database and commercialized shares of Grayscale’s forthcoming spot Bitcoin ETF. Representatives from Grayscale, NYSE Arca, and the ineligible steadfast Davis Polk were contiguous astatine this meeting. Also successful attendance was Michael Sonnenshein, the CEO of Grayscale.

The gathering marks Grayscale’s sixth gathering with the SEC and 4th gathering successful the span of 1 month. The SEC’s database of Grayscale dates besides includes 2 meetings with representatives from Coinbase, some of which took spot successful 2022.

In August 2023, Grayscale secured the close done a court decision for the SEC to reappraisal its spot Bitcoin ETF application, starring to a bid of follow-up meetings. The institution commented connected the anticipation of support connected its website arsenic precocious arsenic Dec. 1.

BlackRock, SEC conscionable again

Another meeting acrophobic BlackRock and a projected regularisation alteration permitting Nasdaq to database and commercialized BlackRock’s iShares Bitcoin Trust. The gathering included respective members of BlackRock and the Nasdaq Stock Market.

The lawsuit marks BlackRock’s 5th gathering with the SEC. All 5 meetings took spot implicit the span of 1 month, starting connected Nov. 20.

Unlike past notices, today’s announcement did not bespeak the topics discussed. Previous meetings betwixt the SEC and BlackRock compared currency and in-kind redemption and instauration models, the second of which would let for definite Bitcoin transactions among participants. BlackRock updated its exertion connected Dec. 18 to bespeak that it would initially usage a currency model.

Many experts judge that a spot Bitcoin ETF volition beryllium approved by Jan. 10, 2024. This is partially owed to a deadline that requires the SEC to determine connected an exertion from Ark and 21Shares by that date. It is besides partially owed to caller meetings and amendments to filings crossed each applicants. However, the SEC has not approved a spot Bitcoin ETF to day and support is not certain.

The station SEC takes caller meetings with BlackRock, Grayscale arsenic high-level Bitcoin ETF talks continue appeared archetypal connected CryptoSlate.