- Representatives from BlackRock and Nasdaq met with the SEC to discuss allowing spot Bitcoin exchange-traded fund (ETF) listing.
- According to a Nov. 20 SEC note, BlackRock made a presentation detailing how the firm could use an in-kind or cash payment model for the iShares Bitcoin Trust.
- A 2019 video by SEC Chairman Gary Gensler came to the fore again in October, in which he appears to criticize the commission’s “inconsistent” approach to spot BTC products.
BlackRock and Nasdaq officials held a meeting with the US Securities and Exchange Commission: One step closer to ETF!
BlackRock Continues Negotiations with the SEC
Representatives from BlackRock and Nasdaq met with the United States Securities and Exchange Commission (SEC) to discuss allowing a spot Bitcoin exchange-traded fund (ETF) listing.
According to an SEC note on November 20, BlackRock made a presentation detailing how the company could use an in-kind or cash payment model for the iShares Bitcoin Trust. It remains unclear how SEC officials responded to these two proposed models or whether they are considering approving the spot BTC ETF.
Many reports suggest that the SEC may be in the decision-making phase regarding a spot BTC ETF to be listed on U.S. markets. If approved, this would be one of the most significant positive trends toward mainstream crypto adoption. SEC officials also met with representatives from Grayscale on November 20 to discuss listing a Bitcoin ETF.
Other companies in line
BlackRock, Fidelity, WisdomTree, Invesco Galaxy, Valkyrie, VanEck, and many other firms are among the companies with pending spot crypto ETF applications awaiting a response from the SEC. The asset management company initially submitted its application to list a spot BTC ETF on the Nasdaq stock exchange in June.
A video of SEC Chairman Gary Gensler from 2019 resurfaced in October, where he criticized the commission’s “inconsistent” approach to spot BTC products. While it remains uncertain whether the SEC chairman will support efforts for crypto-related investment instruments, the commission has previously approved ETFs linked to Bitcoin and Ether futures.
