Bitcoin Spot ETF: What Was The Result Of The Meeting Between The SEC And BlackRock?
Summary
Bloomberg Analyst James Seyffart confirmed that asset manager BlackRock had a meeting with the Securities Exchange and Commission (SEC) to discuss NASDAQ's proposed rule change for listing and trading shares of the proposed iShares Bitcoin Trust. The SEC seems to favour a 'cash creates' model over BlackRock's preferred 'in-kind' model, with concerns regarding broker-dealers' ability to deal in Bitcoin. BlackRock may need to reconsider its position to avoid delays. Regardless of the model, the SEC appears open to approving these funds once regulatory compliance is ensured.
