After Grayscale defeated the SEC in court and regulatory authorities decided not to appeal the results, the driving force of Bitcoin ETFs increased.SEC Changes AttitudeThe SEC's attitude towards approving Bitcoin ETFs has changed
After Grayscale defeated the SEC in court and regulatory authorities decided not to appeal the results, the driving force of Bitcoin ETFs increased.
SEC Changes Attitude
The SEC's attitude towards approving Bitcoin ETFs has changed. JPMorgan Chase and Bloomberg Intelligence have revealed various signs that Bitcoin ETFs are likely to be approved by the end of January 2024. SEC Chairman Gary Gensler confirmed that the team is actively studying approximately 8 to 10 individual ETF proposals and is maintaining contact with these companies.
These signs indicate that ETF proposals may be approved or rejected in bulk. However, Bloomberg analysts see the sudden appearance of an ETF on a market related company as a key milestone in approval.
The change in attitude of the SEC towards the ETF of Tetsu indicates that approval may be obtained in the near future. Although the exact timing is not yet clear, it is clear that participants and regulatory agencies in the cryptocurrency field are moving towards establishing closer and constructive relationships. This transformation may bring broader and stable acceptance to the cryptocurrency market.
IShares launched by DTCC
Eric Balchunas, a senior ETF analyst at Bloomberg, recently pointed out that BlackRock's iShares Bitcoin Trust has been listed on the website of the American Depositary Trust and Clearing Company under the code iBTC.
BlackRock is the world's largest management company, working closely with DTCC. Recently, BlackRock revealed that the proposed Bitcoin ETF has made initial progress.
It is expected that in the future, BlackRock will continue to maintain close cooperation with DTCC to jointly promote the landing of Bitcoin ETFs. With the rapid development of the digital asset market and the continuous increase in investment by traditional institutions and technology companies, Bitcoin ETFs may become a new highlight of the market.
The Bitcoin ETF plan launched by BlackRock in collaboration with DTCC reflects the industry's confidence in the market, and we can expect Bitcoin ETFs to gradually become an important component of the market.
(Personal opinions do not constitute suggestions)
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