Bitcoin News and Finance
Blackrock Expects SEC to Approve Spot Bitcoin ETF This Wednesday Skip to main content

Blackrock Expects SEC to Approve Spot Bitcoin ETF This Wednesday

Blackrock Expects SEC to Approve Spot Bitcoin ETF This Wednesday

Blackrock, the world’s largest asset manager, reportedly expects its spot bitcoin exchange-traded fund (ETF), the Ishares Bitcoin Trust, to be approved by the U.S. Securities and Exchange Commission (SEC) this coming Wednesday. According to reports, the asset manager has lined up over $2 billion in capital for its spot bitcoin ETF launch.

Ishares Bitcoin Trust’s Approval Expected Wednesday

Anticipation for the U.S. Securities and Exchange Commission (SEC)’s upcoming decision on spot bitcoin exchange-traded funds (ETFs) has reached a fever pitch, with analysts predicting that the regulator may approve multiple applications at once early next week. Jan. 10 is the deadline for the SEC to make a decision on the joint spot bitcoin ETF proposal by Cathie Wood’s Ark Invest and 21shares.

While some believe that a decision could come as soon as Monday, Blackrock, the world’s largest asset manager, expects the SEC to approve its spot bitcoin ETF, the Ishares Bitcoin Trust, on Wednesday, according to Fox Business.

Currently, 11 spot bitcoin ETFs are vying for approval. Proposals to list and trade all of them were submitted to the securities regulator on Friday. Once the SEC green-lights these proposals, and the issuers sign off on their S-1 (prospectus) filings, the approved spot bitcoin ETFs can begin trading.

Besides Blackrock’s Ishares Bitcoin Trust, the 10 other applicants are Grayscale Bitcoin Trust, Ark 21shares Bitcoin ETF, Bitwise Bitcoin Trust, Vaneck Bitcoin Trust, Wisdomtree Bitcoin Trust, Invesco Galaxy Bitcoin ETF, Fidelity Wise Origin Bitcoin Trust, Valkyrie Bitcoin Fund, Hashdex Bitcoin ETF, and Franklin Bitcoin ETF.

Blackrock has reportedly lined up over $2 billion for the launch of its Ishares Bitcoin Trust. The world’s largest asset manager has named Jane Street and JPMorgan as the fund’s authorized participants.

Last-minute efforts, such as a letter from Better Markets warning of financial carnage and massive investor harm, aim to compel the SEC to reject spot bitcoin ETFs. However, many have dismissed these concerns and remain confident in the SEC’s approval. Vaneck’s digital assets director noted last week that investors often overlook the long-term impact of spot bitcoin ETFs.

Do you think the SEC will approve Blackrock’s spot bitcoin ETF on Wednesday? Let us know in the comments section below.

Comments

Post a Comment

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl...
Post a Comment
Read more

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju...
Post a Comment
Read more

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and...
Post a Comment
Read more

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r...
Post a Comment
Read more
Blogarama - Blog Directory