U.S SEC to Meet with Registrants of Spot Bitcoin ETFs Next Week
Summary: The US SEC is set to meet with recent registrants of spot Bitcoin ETFs next week. Companies resubmitted their applications, including details on surveillance-sharing partners and other requirements. Bloomberg's ETF specialists Eric Balchunas and James Seyffart reported about the meeting.
Next week, the U.S. Securities and Exchange Commission will meet recent registrants of spot Bitcoin ETFs. All companies who want to launch spot ETFs have resubmitted their applications to the U.S. Securities and Exchange Commission (SEC), this time including details on their surveillance-sharing partners and other requirements.
Round Table Discussion
This is according to tweets from Bloomberg’s ETF specialists Eric Balchunas and James Seyffart on Tuesday. Balchunas believes that they should come together to talk about the possibility of a spot Bitcoin ETF and the required revisions to the legislation.
Staff from the US SEC regularly meet with ETF applicants after they have formally filed to discuss whether to approve or reject the application and to give more information on their stance. While other similar ETFs have been approved by the SEC under Chair Gary Gensler, the crypto industry would benefit enormously from a meeting to approve spot Bitcoin.
After a flurry of Bitcoin ETF applications, the US SEC last month approved Volatility Shares 2x Bitcoin Strategy ETF, the first leveraged Bitcoin futures exchange-traded fund.
BlackRock CEO Praises Bitcoin
Multiple companies have resubmitted their spot Bitcoin ETF applications after gaining clarity on the terms of their surveillance-sharing contracts. BlackRock CEO Larry Fink, on the other hand, said Wednesday that the company’s ETF application is a “way to democratize crypto and make it cheaper.”
He claims Bitcoin is the new gold. BlackRock plans to work with regulators to launch the first Bitcoin exchange-traded fund (ETF). Post BlackRock filing for spot Bitcoin ETF, investors are optimistic and the price of Bitcoin has surged.