SEC starts its official review of BlackRock's Bitcoin ETF application.
The United States Securities and Exchange Commission has accepted https://www.sec.gov/rules/sro/nasdaq.htm application for a spot Bitcoin exchange-traded fund following its acknowledgment of a similar application by Bitwise the day before.indicates the commencement of the official review process for BlackRock's ETF proposal. While it is an initial step in a lengthy regulatory journey, it holds great importance for the Bitcoin community.
ETFs are investment funds that typically follow specific indexes and are commonly traded on exchanges. In the realm of cryptocurrencies, a fund that mirrors the value of one or multiple digital tokens and comprises a variety of cryptocurrencies is known as a cryptocurrency ETF.that it is also in the process of reviewing applications for various funds, including Wise Origin Bitcoin Trust, WisdomTree Bitcoin Trust, VanEck Bitcoin Trust and Invesco Galaxy Bitcoin ETF.
Spot Bitcoin ETFs have been denied since 2017 by the SEC. In Canada, however, the financial product is already available. Three significant funds — Purpose Bitcoin, 3iQ CoinShares and CI Galaxy Bitcoin — are all directly invested in spot Bitcoin. to preserve this moment in history and show your support for independent journalism in the crypto space.
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