2023-07-14 17:16:02
IMPORTANT POINTS:
The SEC has officially recognized Bitcoin ETF applications from Fidelity, VanEck, WisdomTree, and Invesco. Although it does not guarantee immediate approval, this recognition represents significant progress in the financial sector. The companies have included surveillance sharing agreements in their applications, hoping to address SEC concerns about market manipulation.
The United States Securities and Exchange Commission (SEC) has taken a step forward by recognizing applications for a Bitcoin ETF from Fidelity, VanEck, and other major financial firms. This development, though does not indicate imminent approval or rejection, represents notable progress.
The world of digital assets has been full of surprises, especially with the influx of applications for Bitcoin ETFs. In the last month, asset management giants like BlackRock and Fidelity have sought to develop their own Bitcoin ETFs. Now, these requests have gone another step.
The SEC has officially recognized applications for Fidelity, VanEck, WisdomTree e Invesco. On the other hand, a similar recognition was also reported today for BlackRockformerly companies like ARK Investment y BitWise received regulatory approval.
James Seyffart, a Bloomberg reporter, reported on the SEC recognitions that took place today. Furthermore, he pointed out that Galaxy Digital it also received similar recognition for its Bitcoin ETF. All of this is occurring at a time when the agency may be prepared to approve the first Bitcoin ETF in the United States.
Many of these firms have faced reluctance from the SEC to approve a Bitcoin ETF. However, most have included surveillance sharing agreements in their requests, a tactic they hope can alleviate some SEC concerns about market manipulation.
Though it remains to be seen how the agency will respond, the acknowledgments show that the clock has officially started ticking on these requests. Only time will tell what the SEC’s response will be, but the potential for these products remains. Larry Fink, CEO of BlackRock, highlighted today the potential of cryptocurrencies to transcend international currency.
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