{"id":123354,"date":"2023-07-17T05:42:45","date_gmt":"2023-07-17T05:42:45","guid":{"rendered":"https:\/\/dripp.zone\/news\/sec-accepts-blackrocks-bitcoin-etf-application-for-review-crypto-news\/"},"modified":"2023-07-17T05:42:47","modified_gmt":"2023-07-17T05:42:47","slug":"sec-accepts-blackrocks-bitcoin-etf-application-for-review-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/sec-accepts-blackrocks-bitcoin-etf-application-for-review-crypto-news\/","title":{"rendered":"SEC accepts BlackRock&#8217;s Bitcoin ETF application for review\n &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p>The US Securities and Exchange Commission (SEC) has accepted asset manager BlackRock&#8217;s application for a spot Bitcoin exchange-traded fund (ETF), signaling a major step for the potential launch of the country&#8217;s first spot Bitcoin ETF.<\/p>\n<p><strong><em>See related articles:<\/em><\/strong> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/forkast.news\/blackrock-files-for-spot-bitcoin-etf-taps-coinbase-as-custodian\/\">BlackRock files for spot Bitcoin ETF, taps Coinbase as custodian<\/a><\/p>\n<h2 class=\"wp-block-heading\">Fast facts<\/h2>\n<ul>\n<li>On July 13, the SEC added BlackRock&#8217;s spot Bitcoin ETF <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.sec.gov\/rules\/sro\/nasdaq\/2023\/34-97905.pdf\">applications<\/a> to its <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.sec.gov\/rules\/sro\/nasdaq.htm#SR-NASDAQ-2023-016\">list<\/a> of proposed rulemaking filings for the Nasdaq stock market \u2014 a move that signals the regulatory body&#8217;s intent to take the application seriously. <\/li>\n<li>Given BlackRock&#8217;s global stature in the asset management industry, that signal is considered significant as a potential indicator of greater institutional adoption of Bitcoin and other cryptocurrencies to come.  <\/li>\n<li>The move follows BlackRock&#8217;s <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/listingcenter.nasdaq.com\/assets\/rulebook\/NASDAQ\/filings\/SR-NASDAQ-2023-016_Resubmission.pdf\">Filing<\/a> of an amended Bitcoin ETF application in late June.  SEC officials reportedly <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.wsj.com\/articles\/sec-says-spot-bitcoin-etf-filings-are-inadequate-390336e8\">expressed<\/a> concern that the original ETF applications filed by BlackRock and other asset managers were not sufficiently comprehensive. <\/li>\n<li>To convince the regulators, BlackRock has added a \u201csurveillance-sharing\u201d agreement with US crypto exchange Coinbase to its updated application.  Competitors including <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cdn.cboe.com\/resources\/regulation\/rule_filings\/pending\/2023\/SR-CboeBZX-2023-028-Amendment-No-1.pdf\">Ark Invest<\/a>, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cdn.cboe.com\/resources\/regulation\/rule_filings\/pending\/2023\/SR-CboeBZX-2023-044-Amendment-No-1.pdf\">Fidelity Investments<\/a> and others are also filing similar amendments to their respective Bitcoin ETF applications.<\/li>\n<li>On July 14, the day after the BlackRock decision, the SEC also added the Bitcoin ETF. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.sec.gov\/rules\/sro\/cboebzx.htm\">applications<\/a> of WisdomTree, VanEck, Fidelity and Invesco Galaxy to its docket.<\/li>\n<li>BlackRock is the world&#8217;s largest asset manager with over <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/s24.q4cdn.com\/856567660\/files\/doc_financials\/2023\/Q2\/BLK-2Q23-Earnings-Release.pdf\">US$9.4 trillion<\/a> inassets.  The firm <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/forkast.news\/blackrock-files-for-spot-bitcoin-etf-taps-coinbase-as-custodian\/\">filed<\/a> for its first spot Bitcoin ETF on June 15, fueling optimism for further institutional adoption of cryptocurrencies.<\/li>\n<li>A Bitcoin ETF allows customers to invest in Bitcoin without directly holding the token, and can be traded on traditional stock markets.  The US SEC <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.sec.gov\/ix?doc=\/Archives\/edgar\/data\/1884021\/000138713123007744\/bitx-485bpos_052323.htm\">approved<\/a> The nation&#8217;s first Bitcoin futures ETF on June 23, but is so far yet to give the green light to a spot Bitcoin ETF.<\/li>\n<li>Elsewhere, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/forkast.news\/headlines\/europes-first-spot-bitcoin-etf-set-launch-july-ft\/\">Europe&#8217;s first spot Bitcoin ETF<\/a> \u2014 proposed by Jacobi Asset Management \u2014 is expected to be publicly listed this month.  That follows a 12-month delay from the initially planned date, according to reporting by the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/1d1de06a-a904-4db3-9017-4c061bd6854d\">Financial Times<\/a>, <\/li>\n<\/ul>\n<p><strong><em>See related articles: <\/em><\/strong><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/forkast.news\/headlines\/sec-bitcoin-etf-applications-inadequate\/\">US SEC says bitcoin ETF applications inadequate: WSJ<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The US Securities and Exchange Commission (SEC) has accepted asset manager BlackRock&#8217;s application for a spot Bitcoin exchange-traded fund (ETF), signaling a major step for the potential launch of the country&#8217;s first spot Bitcoin ETF. See related articles: BlackRock files for spot Bitcoin ETF, taps Coinbase as custodian Fast facts On July 13, the SEC [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":123355,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-123354","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/123354","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=123354"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/123354\/revisions"}],"predecessor-version":[{"id":123356,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/123354\/revisions\/123356"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/123355"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=123354"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=123354"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=123354"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}