In what is certainly an important development, BlackRock and the US Securities and Exchange Commission (SEC) have met for the fourth time to discuss its Spot Bitcoin ETF. Indeed, an official filing shows that the agency and the asset management firm met yesterday, following similar meetings with other potential issuers throughout the last month.
Moreover, Bloomberg analyst James Seyffart reported that this meeting involved SEC chairman Gary Gensler and his direct staff. Additionally, the filing noted that the conversations were regarding the “iShares Bioin Trust under NASDAQ Rules 57119(d).”
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BlackRock Meets with SEC Chair For Fourth Time to Talk Bitcoin ETF Proposal
For much of the last few months, the potential approval of a Spot Bitcoin ETF has dominated the news cycle. With more than a dozen applications currently filed, anticipation is high that we could see the investment product come to fruition early next year. Now, that excitement has reached a fever pitch considering the plethora of meetings taking place between the primary regulatory agency and one issuer.
Specifically, both BlackRock and the SEC have met for the fourth time to discuss the former application for a Spot Bitcoin ETF. Additionally, the meeting that took place yesterday occurred after three previous ones in as many weeks. Moreover, James Seyffart notes that this meeting involved SEC Chari Gensler’s direction.
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Gensler made headlines yesterday when he discussed the ongoing application flurry. Specifically, he told reporters that court mandates have forced the agency to reassess these various applications. Subsequently, many have perceived the statements are preceeding a potential approval.
Both Seyffart and others have been vocal about their expectations for the investment products approval. Specifically, they noted that the window for a decision on the offering will take place between January 5th and 10th. Moreover, any word on approval would likely be made public by January 8th of the coming year.