In a week marked by substantial financial developments, none have captivated the attention of investors quite like the unfolding saga of BlackRock's Bitcoin ETF. The focus began to shift back onto the ETF topic after the iShares Bitcoin Trust was officially listed on the Depository Trust & Clearing Corporation (DTCC), a crucial component of the U.S. market infrastructure. Adding to this momentum, BlackRock has made amendments to its ETF filing to indicate the possibility of seeding the ETF this month. While these steps do not guarantee approval, they are widely seen as bolstering confidence in an eventual SEC endorsement. In a sense, they mark a continuation of the approval process. However, it's crucial to temper expectations, as it's unlikely that the SEC will make a quick decision. Following its historical approach during the approval process for BTC/ETH Futures ETFs, the SEC is expected to grant approval to multiple fund managers simultaneously. Given this context, a decision might be deferred until early next year, as the SEC awaits other applications to meet the criteria reportedly satisfied by BlackRock. Despite this uncertainty, BlackRock's proactive steps seem designed to assert its 'first-mover' advantage in the market, regardless of whether the SEC eventually confers it. In a separate yet related development, the DC Circuit Court of Appeals has formally closed the Grayscale case, requiring the SEC to re-evaluate Grayscale's application to convert GBTC to a spot ETF. Depending on the SEC's decision, this could either pave the way for more accessible cryptocurrency investment products or introduce additional regulatory hurdles. To underscore the market sentiment, Bitcoin's recent surge past the 35k mark indicates that the market is increasingly factoring in the likelihood of an ETF approval, with the timing of such an event being the only remaining question. In conclusion, the approval of a Bitcoin ETF could not only be a financial game-changer but also a pivotal moment for the asset class as a whole. By offering a straightforward and regulated path for investors, it promises to attract a surge of capital particularly from the institutional sector that could catalyze the next bull market. As cryptocurrencies gain further legitimacy, the SEC's eventual endorsement would catapult cryptocurrencies from the periphery right into the core of the financial world. The post BlackRock's Big Move appeared first on Coinrule.
Here are Some More Investing Tips and Resources. Enjoy! | In a week marked by substantial financial developments, none have captivated the attention of investors quite like the unfolding saga of BlackRock's Bitcoin ETF. The focus began to shift back onto the ETF topic after the iShares Bitcoin Trust was officially listed on the Depository Trust & Clearing Corporation (DTCC), a crucial component of the U.S. market infrastructure. Adding to this momentum, BlackRock has made amendments to its ETF filing to indicate the possibility of seeding the ETF this month. While these steps do not guarantee approval, they are widely seen as bolstering confidence in an eventual SEC endorsement. In a sense, they mark a continuation of the approval process. However, it's crucial to temper expectations, as it's unlikely that the SEC will make a quick decision. Following its historical approach during the approval process for BTC/ETH Futures ETFs, the SEC is expected to grant approval to multiple fund managers simultaneously. Given this context, a decision might be deferred until early next year, as the SEC awaits other applications to meet the criteria reportedly satisfied by BlackRock. Despite this uncertainty, BlackRock's proactive steps seem designed to assert its 'first-mover' advantage in the market, regardless of whether the SEC eventually confers it. In a separate yet related development, the DC Circuit Court of Appeals has formally closed the Grayscale case, requiring the SEC to re-evaluate Grayscale's application to convert GBTC to a spot ETF. Depending on the SEC's decision, this could either pave the way for more accessible cryptocurrency investment products or introduce additional regulatory hurdles. To underscore the market sentiment, Bitcoin's recent surge past the 35k mark indicates that the market is increasingly factoring in the likelihood of an ETF approval, with the timing of such an event being the only remaining question. In conclusion, the approval of a Bitcoin ETF could not only be a financial game-changer but also a pivotal moment for the asset class as a whole. By offering a straightforward and regulated path for investors, it promises to attract a surge of capital particularly from the institutional sector that could catalyze the next bull market. As cryptocurrencies gain further legitimacy, the SEC's eventual endorsement would catapult cryptocurrencies from the periphery right into the core of the financial world. The post BlackRock's Big Move appeared first on Coinrule. | And, in case you missed it: | | - FREE OR LOW COST INVESTING RESOURCES - | |  |  |  |  | | | - CLICK THE IMAGE BELOW FOR MORE INFORMATION - | |  | | ProfitableInvestingTips.com is an informational website for men and women who want to discover investing and trading products and strategies to educate themselves about the risks and benefits of investing and investing-related products. | DISCLAIMER: Use of this Publisher's email, website and content, is subject to the Privacy Policy and Terms of Use published on Publisher's Website. Content marked as "sponsored" may be third party advertisements and are not endorsed or warranted by our staff or company. The content in our emails is for informational or entertainment use, and is not a substitute for professional advice. Always check with a qualified professional regarding investing and trading guidance. Be sure to do your own careful research before taking action based on anything you find in this content. | If you no longer wish to receive our emails, click the link below:
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