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SEC Further Delays BlackRock Spot Bitcoin ETF Amidst Growing Institutional Interest

Press Releases Crypto News BeInCrypto SEC Further Delays BlackRock Spot Bitcoin ETF Amidst Growing Institutional Interest

The US Securities and Exchange Commission (SEC) yet again deferred the decision on spot Bitcoin ETF applications from leading financial giants BlackRock, Valkyrie, and Bitwise.

This extension, signifying a prudent regulatory approach, reflects the mounting deliberation on intertwining traditional finance and cryptocurrencies.

SEC Delays BlackRock Spot Bitcoin ETF, And More

The SEC’s decision sprung from concerns about potential fraudulent and manipulative practices. Subsequently spotlighting the call for a deeper review of the legal and policy implications enveloped in these applications.

The agency, inviting more commentary from the public, posed queries on the robustness of the Bitcoin market’s liquidity. It also questioned transparency, alongside the effectiveness of a proposed surveillance-sharing agreement with Coinbase in curbing fraud.

This narrative mirrors the cautious optimism within the traditional financial spectrum toward Bitcoin. BlackRock, a towering entity with a $98 billion asset under management, embodies this shift. Its CEO, Larry Fink, who once relegated Bitcoin to a Ponzi scheme status, now heralds it as a competitor to fiat currencies.

“If you look at the value of the US dollar, how much it depreciated over the last two months, and how much it appreciated over the last five years… An international crypto product can really transcend that,” Fink said.

A roundtable discussion led by Rob Nelson unveiled this evolving acceptance, indicating a broader institutional shift. Co-panelist David Zell spotlighted notable transformations like Michael Saylor’s journey from a Bitcoin skeptic to a staunch proponent.

The ripple effect of such endorsements, Go to Source to See Full Article
Author: Bary Rahma

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