According to rumors based on various sources during the day, BlackRock would apply for a spot Bitcoin ETF.
The allegations proved true and BlackRock has officially applied for a spot Bitcoin ETF.
As Bitcoinsistemi.com, we conveyed this claim and resources to you during the day.
The SEC Has Not Approved Any Bitcoin Spot ETFs So Far
It should be noted that although BlackRock has applied for a Bitcoin ETF, the SEC has not accepted any spot Bitcoin ETF applications, even though it has approved several BTC futures ETFs to date.
The BTC spot ETF is considered to be an exchange-traded fund that tracks the BTC price and, if approved in the US, will be able to trade on traditional stock trading routes such as the New York Stock Exchange (NYSE).
The SEC has yet to approve any Bitcoin spot ETFs, but several BTC futures ETFs, which are funds that invest in the future price of BTC. Some of the reasons why the SEC is reluctant to approve BTC spot ETFs could be:
- Concerns about market manipulation, fraud and lack of transparency in the underlying BTC market.
- Challenges in providing adequate custody, valuation, liquidity and arbitrage mechanisms for BTC spot ETFs.
- Regulatory uncertainty and evolving standards for the cryptocurrency industry.
*Not investment advice.
