BlackRock’s application for a spot Bitcoin exchange-traded fund (ETF) is significant for the cryptocurrency market. BlackRock’s application has been added to the official docket of the Securities and Exchange Commission (SEC), marking progress in the proposed rule change process. This particular Bitcoin ETF application has garnered significant attention, making it one of the most closely-watched proposals to date.
SEC Formally Accepts BlackRock Spot Bitcoin ETF Application for Review
ETF Newz Says:
After the SEC indicated that BlackRock’s initial application was insufficient, the company submitted a revised application that included a “surveillance sharing” clause. This clause entails Coinbase, a prominent cryptocurrency exchange, monitoring and reporting potential illicit activities. Following BlackRock’s update, other players in the industry, including Valkyrie, Fidelity, and ARK Invest, also included similar provisions in their respective applications.