The SEC website showed one memorandum with details of a discussion with BlackRock, and another one on a discussion with Grayscale.
JPMorgan expects strong liquidation of the GBTC shares. Finance giant Ark Invest has already liquidated 700,000 shares over the last month.
Grayscale officials had previously met with the US SEC representatives to the division of trading and markets to discuss the proposed rule to list and trade GBTC under NYSE Arca.
Market experts are convinced the settlement between Binance and the US government is a bullish event for Bitcoin and the altcoin industry with spot ETFs anticipated anytime soon.
In the filing BlackRock proposed In-kind redemptions could also offer tax efficiency, avoiding the need to sell securities for redemptions, which might trigger capital gains taxes.
Bernstein analysts are not the only experts who believe Binance will remain the world’s leading crypto exchange despite the recent settlement with the US authorities.
Grayscale is poised to enter the ETF market on the first day with $20 billion in assets under management, even with the involvement of BlackRock.
The third amendment is another attempt for ARK Invest to ensure that the proposal for the ARK 21Shares spot Bitcoin ETF will pass the SEC’s screening.
This acquisition will prepare CoinShares to position itself in the US markets ahead of the upcoming launch of spot Bitcoin ETFs.
The SEC announced a delay in deciding on the Bitcoin and Ether ETFs from Hashdex and Grayscale, stating that it needs more time.
CME’s rise to the top suggests increasing institutional interest as the platform is a favorite among large traditional financial institutions.
With strong confidence that its Bitcoin spot ETF will be approved by January 2024, BlackRock has filed an application for a spot ETH ETF.
ETH price surge is not only attributed to BlackRock’s move but is also complemented by a resurgence in Ethereum network activity.
COIN shares immediately saw a surge in trading activity leading to a 5.14% increase in their stock price.
The entire world of finance (both traditional and crypto) is eagerly waiting for the US SEC to approve spot Bitcoin ETF.