According to the latest reports, it seems that BlackRock has just met with the SEC in order to address the model design for Bitcoin ETF. Check out more details about this below.
BlackRock addresses the SEC about Bitcoin ETF
Here’s the tweet that sheds light on this important meeting:
JUST IN: 🇺🇸 BlackRock met with the SEC and shared a "revised in-kind model design" for its spot #Bitcoin ETF. pic.twitter.com/6Ozr4uV6mJ
— Bitcoin Magazine (@BitcoinMagazine) November 29, 2023
Someone said: “Of course they get the luxury to do this and manipulate the new investment instrument to benefit them and institutions over the consumer,” and another follower posted this mesage: “someone else will just buy it… it will take these institutions very hard lessons to understand what a truly limited supply of 21 million #bitcoins really means.”
A follower said: “I’m not sure if this will be enough to get the SEC to approve a spot Bitcoin ETF, but it’s a step in the right direction.”
Someone believes that this is a significant development for the Bitcoin ETF space. BlackRock is a major financial institution with a lot of influence, so their approval of a Bitcoin ETF would be a major milestone.
BlackRock in the news
The world’s largest investment firm, BlackRock, has filed for a spot market Ethereum (ETH) exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC).
This comes months after the firm applied for a spot Bitcoin (BTC) ETF. BlackRock, which manages assets worth over $8 trillion, aims to get approval for the iShares Ethereum Trust.
This would allow retail investors to gain exposure to the second-largest cryptocurrency by market cap through traditional stock exchanges.
“The Trust seeks to reflect generally the performance of the price of Ether. The Trust seeks to reflect such performance before payment of the Trust’s expenses and liabilities. The Shares are intended to constitute a simple means of making an investment similar to an investment in ether rather than by acquiring, holding and trading ether directly on a peer-to-peer or other basis or via a digital asset exchange.”
The notes continued and revealed the following according to the reports coming from the online publication the Daily Hodl.
