Despite the SEC’s warning, the biggest asset manager in the world, BlackRock, has reapplied for a Bitcoin ETF.
The biggest asset manager in the world, BlackRock, has reapplied for a Bitcoin spot ETF despite a warning from the Securities and Exchange Commission.
With the help of BlackRock, the biggest asset manager in the world, and Coinbase, the largest cryptocurrency exchange in the United States, Nasdaq has once again applied to introduce a spot Bitcoin exchange-traded fund (ETF).
This ETF, should it be authorised, would be the first of its sort in the United States, where authorities have so far rejected or delayed hundreds of Bitcoin ETF applications due to concerns about market manipulation, investor protection, and custody difficulties. There are just two bitcoin futures exchange-traded funds (ETFs) that are authorised by the Securities and Exchange Commission (SEC).
Inadequate ETF filings were recently identified by the SEC, sources told the Wall Street Journal. It was said that the insufficiency of the applications was due to the applicant’s failure to include the name of the Bitcoin exchange that served as an intermediary. As a result of the adjustments that were made by a number of corporations, including BlackRock, Coinbase was revealed to be the middleman for these ETFs.
