Article11 months ago

BlackRock's Bitcoin ETF Application Gains Steam with SEC

BlackRock's Bitcoin ETF Application Gains Steam with SEC
Summary
  • BlackRock's bitcoin-based ETF application has been seen as a potential gamechanger for the cryptocurrency market.
  • While ETFs based on other commodities have been permitted in many countries, bitcoin-based ETFs have faced challenges, particularly in the US.
  • Previous attempts by companies like Van Eck and Bitwise to get bitcoin ETF applications approved by the SEC have been unsuccessful.
  • BlackRock, with its positive track record with the SEC, has gained attention and respect for submitting a similar application.
  • A bitcoin ETF is believed to have the potential to broaden bitcoin's investor base, boost liquidity, improve price discovery, and potentially lead to increased institutional adoption.
  • The BlackRock application was initially rejected but is now being reviewed for the second time after certain changes were implemented.

📣 Related news

Loading news...

💼 DePIN Hub Newsletter

We bring you real world use cases of web3 through DePIN. And btw, you can generate passive income along the way!