Aside from the Grayscale Bitcoin Spot ETF, the SEC is also reviewing other Bitcoin ETF proposals.
The approval of spot-Bitcoin ETF remains a hot issue of debate among investors, regulators, and financial institutions.
The US SEC is under pressure from several institutional investors – including BlackRock, Fidelity, WisdomTree, and Valkyrie – to approve a spot Bitcoin ETF.
The rush to launch Ethereum spot ETFs has sparked interest in the crypto community.
The changes in BlackRock’s Asia-Pacific team come amid the SEC’s decision on the future of the company’s spot Bitcoin ETF.
Armstrong said lawmakers are again looking to create crypto legislation in the US following Ripple’s court win and the increase in Bitcoin ETF applications.
With the application on the SEC docket, members of the public will have 21 days to comment on Valkyrie’s proposal.
The US SEC has started reviewing all the spot Bitcoin ETF filings re-submitted by all applicants along with a “surveillance sharing” clause.
Spot Bitcoin ETF applications have recently been on the rise throughout the industry.
After 12 months of the planned launch, Jacobi Bitcoin ETF revealed that the first spot BTC ETF in Europe is about to see daylight.
Over the past decade, the SEC has rejected as many as 30 spot Bitcoin ETF applications from firms such as Gemini, Fidelity, and WisdomTree.
Coinbase will now join market surveillance sharing for Cboe ETFs even as market sentiments suggest BlackRock will win SEC approval.
BlackRock is set to become the first asset manager to launch a fund that tracks the price of Bitcoin.
According to Grayscale, the only way to eliminate SEC’s unequal treatment of BTC ETPs is “to allow proposed spot bitcoin ETPs like Grayscale’s to begin trading”.
According to the analyst, Bitcoin has a better chance of being valuable and stable as it has a fixed and constant supply compared to other forms of money.