Exciting news! BlackRock, Fidelity Investments, and other enthusiastic spot Bitcoin ETF applicants will be meeting with the U.S. Securities and Exchange Commission (SEC) next week. This positive development comes after all the applicants resubmitted their applications to the SEC, including the necessary information about their surveillance-sharing partners.
Spot Bitcoin ETF Applicants Eagerly Gather for US SEC Meeting
According to the tweets from Bloomberg’s cheerful ETF analysts Eric Balchunas and James Seyffart, the spot Bitcoin ETF applicants and the U.S. SEC will be getting together next week. Balchunas believes this meeting is absolutely essential, as they should discuss the exciting possibilities of a spot Bitcoin ETF and the required rule amendments.
It is customary for the US SEC staff to meet with ETF applicants after an official filing, to decide on approval or denial and provide further clarification. However, this particular meeting to approve a spot Bitcoin ETF is especially significant for the crypto industry. Under the leadership of Chair Gary Gensler, the SEC has been approving similar ETFs while denying a spot Bitcoin ETF. Therefore, this meeting carries great importance.
In the midst of a wave of Bitcoin ETF filings last month, the US SEC has already given its approval to the first leveraged Bitcoin futures ETF called the Volatility Shares 2x Bitcoin Strategy ETF.
Meanwhile, with a positive outlook, BlackRock, Fidelity Digital Assets, Invesco, Valkyrie, WisdomTree, and other vibrant players have resubmitted their spot Bitcoin ETF applications, providing additional details about their surveillance-sharing agreements.
BlackRock CEO Larry Fink Applauds Bitcoin as Digital Gold
The CEO of BlackRock, Larry Fink, shared his excitement on Wednesday, describing their ETF filing as a means to “democratize crypto and make it cheaper.” He passionately emphasizes that Bitcoin is an international asset and a modern form of gold. BlackRock is eager to collaborate with regulators to secure approval for their first spot Bitcoin ETF application.
The Bloomberg analysts also wholeheartedly agree that a Bitcoin ETF would lead to cost reduction, with a mere 0.01% trading fee on all major crypto exchanges. This incredible potential should not be overlooked when compared to other crypto exchanges.
It’s wonderful to see such enthusiasm and optimism surrounding the potential approval of a spot Bitcoin ETF. This could pave the way for greater accessibility and affordability in the world of cryptocurrencies.
