One of the thirteen asset managers competing, Hashdex, expects the first Bitcoin exchange-traded fund (ETF) to launch in the United States in the second quarter of 2024.
Recent talks between Fidelity Investments and the U.S. Securities and Exchange Commission (SEC) aimed at clarifying Fidelity’s spot Bitcoin ETF application.
According to a recent filing from December 7, two individuals from the Cboe BZX Exchange, six individuals from the SEC, and nine individuals from Fidelity were present at the conference. In this gathering, the Wise Origin Bitcoin Trust stood front and center.
The focus of the meeting was on the anticipated rule change at Cboe BZX that would allow the Wise Origin Bitcoin Trust to be listed and traded in accordance with Cboe BZX Rule 14.11(e) (4). Fidelity not only had in-depth conversations with attendees but also provided a detailed PowerPoint presentation on the inner workings of its Bitcoin ETF.
The meeting’s central focus on the efficacy of physical constructions and redemptions as a means of hedging and arbitrage stood out.
In order to improve trading efficiency and secondary market pricing for everyone involved, Fidelity emphasized the need to allow physical creation and redemption.
On June 19, Fidelity was one of many asset managers that followed BlackRock and other comparable firms in submitting their spot Bitcoin ETF applications to the SEC.
Nevertheless, it should be mentioned that Fidelity’s proposal for a spot Bitcoin ETF in 2022 was earlier denied by the SEC.
The SEC has met with several spot Bitcoin ETF candidates to discuss the intricacies of their applications, and its latest interaction with Fidelity is part of that trend.
A spot Bitcoin exchange-traded fund (ETF) has reportedly discussed “key technical details” related to launching shares on U.S. exchanges.
Spot Bitcoin ETF clearance in the US is under increasing attention and interest, with the SEC holding separate meetings with officials from Fidelity, BlackRock, and Grayscale.
Many in the Bitcoin business and academics have different opinions on when the US government will approve a spot Bitcoin ETF.
One of the thirteen asset managers competing, Hashdex, expects the first Bitcoin exchange-traded fund (ETF) to launch in the United States in the second quarter of 2024.
The industry experts’ outlook on the acceptance of these ETFs is becoming more favorable, nevertheless, and the consensus is moving away from an “if” to a “when” situation.
The deadline for the SEC to decide whether to accept or reject ARK Invest’s application is January 10, and Bloomberg ETF analysts James Seyffart and Eric Balchunas are quite sure that all spot Bitcoin ETFs might be approved at the same time.
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