Bitcoin Spot ETFs
Bitcoin Spot ETFs have been a hot topic over the last few years, but it is only this summer that significant progress has been made toward their actualization. Many prominent companies such as Fidelity, Bitwise, BlackRock, and Vaneck have tried persuading the US Securities Exchange Commission to give them a chance. Nevertheless, the SEC didn’t let its guard down.
BlackRock’s most recent attempt at making Bitcoin spot ETFs a reality happened in mid-June but was denied soon after, as it didn’t provide enough clarification on “surveillance-sharing” agreements. However, it didn’t take long for the company to show more initiative and refile a Bitcoin spot EFT application that named Coinbase as its surveillance-sharing partner — this time, the SEC accepted the application for review.
But don’t get your hopes up just yet. The SEC’s move merely signifies that this regulator is finally ready to consider a Bitcoin ETF approval. BlackRock’s application was added to the official docket of the Securities and Exchange Commission on Thursday, making it eligible for the review process.