Echoing last week, the values of market leaders Bitcoin and Ethereum remained pretty inert over the past seven days. 

Nonetheless, market leader Bitcoin (BTC) hit a one-year high after crossing the $31,000 threshold on Monday on news that the world’s largest asset manager, BlackRock, was refiling its application to the SEC for a Bitcoin spot ETF—a regulated investment vehicle that, if approved, would provide investors with exposure to Bitcoin without the dangers of buying it directly.

The SEC expressed misgivings about BlackRock’s first filing last month, stating broadly that none of the many applicants for a Bitcoin spot ETF have been specific enough about how they’ll integrate a “surveillance-sharing agreement” to deter fraud and manipulation. Such an agreement would allow applicants to monitor market trading activity and clearing activity and verify customer identity.

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Author: Tim Hakki

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