Officials from Nasdaq and BlackRock met with the United States Securities and Exchange Commission (SEC) yesterday to discuss an application for a Bitcoin spot ETF (Exchange-traded Fund) submitted by the asset manager a few months ago.
According to the SEC’s memo, Tuesday’s meeting comprised BlackRock’s ETF team and the company’s Head of Digital Assets, Robert Mitchnick. Moreover, Nasdaq’s Vice President Joseph Cusick and Director of US Exchange-Traded Products and Equities Giang Bui were also present. The SEC team was headed by Eric Juzenas and Dais Shillman, the directors of the agency’s Trading and Markets Division.
BlackRock Makes More Amendments to Its ETF Filing
The meeting happened a few hours after BlackRock had made amendments to its filing, in which the asset manager stated that it changed its Bitcoin spot ETF’s ticker to IBIT. Additionally, BlackRock changed its ETF to cash only. That means the fund’s shares will only be created with fiat money, not Bitcoin.
This isn’t the first meeting BlackRock has had a meeting with the SEC in regard to its Bitcoin spot ETF filing. Last month, the asset management company met with the regulator and held talks about a proposal that aimed at making it easier for American Banks to take part in the ETF.
BlackRock’s ETF Application
In June 2023, BlackRock announced it had filed a Bitcoin spot ETF with the Securities and Exchange Commission. The announcement sent shockwaves across the cryptocurrency industry, with prices of digital assets rallying massively. At the time, Bitcoin hit $30,000, a level it had not seen for over a year. Since then, BTC and other top cryptocurrencies have been rallying, setting new yearly highs.
The entrance of BlackRock into the race to have Bitcoin spot ETF approved by the SEC has boosted hopes that the regulator will finally allow such an ETF to trade in the American market after years of throwing out all applications submitted by crypto-native companies like Grayscale and Ark Invest.
The deadline for approving or dismissing the several Bitcoin spot ETF filings has been set for January 10, 2024. Many ETF analysts expect that the SEC will approve at least one ETF.
SureTradeGroup.com is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. Some of the content on this site is paid content that is not written or posted by our writers or editors and the opinions expressed do not reflect the opinions of this website. Any disagreement you may have with brands or companies mentioned in articles will need to be taken care of directly with those specific brands and companies. The responsibility of anyone who may click links in our articles and ultimately sign up for that product or service is their own. Forex, Stocks, Cryptocurrencies, NFTs and Dogital Tokens are all a high-risk asset, investing in them can lead to losses. Readers should do their own research before taking any action.