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BlackRock’s Bitcoin ETF application is accepted, signaling regulatory review

Jul 16, 2023 · 1 min read · 364 points
BlackRock’s Bitcoin ETF application is accepted, signaling regulatory review
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The SEC has accepted BlackRock’s Bitcoin ETF application, signaling the start of the review process.

Highlights

  • The SEC has accepted BlackRock’s application for a spot Bitcoin (BTC) exchange-traded fund (ETF) The SEC’s acknowledgment indicates the start of the official review process.
  • The regulator is also reviewing applications for various funds, including Wise Origin Bitcoin Trust, WisdomTree, VanEck and Invesco Galaxy.
  • BlackRock’s entry into the spot Bitcoin ETF race is significant due to its stature in the financial industry.
  • The competition among companies vying to be the first to launch a Bitcoin ETF in the United States is seen by many as a positive development for the crypto industry.
  • With multiple filings, the chances of success increase, with diverse proposals enabling the SEC to assess different proposals.
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