BlackRock's Spot Bitcoin ETF Is Finally Ready To Launch

BlackRock's Spot Bitcoin ETF Is Finally Ready To Launch?

By Coins Reporter | Coinsreporter | 19 Dec 2023


Blackrock has once again, and possibly the last time before the launch, revised S1 form for the iShares Bitcoin Trust. These changes are a definite indication towards a potential launch of Spot Bitcoin ETFs very soon.

For the last few months, we have been witnessing a series of positive developments on the front of opening a door for trillion dollars institutional investors through spot Bitcoin ETFs. It all changed when the court ruled in favour of Grayscale's GBTC. SEC, the governing body that approves such ETF, has seemingly changed its stance from 'a straight no' to 'let's talk' and now 'New Look'. That's a turnaround. Isn't it. 

Now with the passing of everyday, it seems like one or all spot Bitcoin ETF or ETFs will be approved. The recent filing of amendment in its application by BlackRock is a mega proof of it. While these amendments are not done for the first time, but for the first time they have a cry of finality in them. 

For the first time the alterations made in the S1 form by BlackRock has taken care for terminology. There are a few phrases which got replacement. The phrase 'Prime Broker' is altered with 'Prime Execution Agent' and 'Market Makers' is replaced with 'Bitcoin Trading Counterparties'. 

They are now dealing with vocabulary. They now wanna make it more adjacent to stocks and equities. 

Gensler is defeated on many fronts

😜Or May be Gensler has nothing left except words! 

 

Apart from these terminology enhancements, one major addition includes the announcement of 'IBIT' as the ticker symbol for NASDAQ. 

Other alterations are related to risk management and operations related to Spot Bitcoin ETF's functioning. 

Most important of all is 'showing the process of redemption and creating an order while making trades with ETFs. 

In the recent meeting, as according to SEC, BlackRock has demonstrated a short presentation of two seperate models for the ETF. The models have included an in kind and in cash redemption and creation processes. (The SEC has released a memo regarding the meeting)

However, it's not clear whether the demonstration was appreciated by the SEC. But as these are very subtle alterations, we can largely see what's coming. 

Many analysts have already predicted that a spot ETF will be approved as soon as early 2024 and these meetings and changes only indicate that the prediction is going to be a reality when time arrives. 

¶¶¶•••••••••••••¶¶¶

As Always Thanks for Reading and Tipping 

Adios ... Ciao.... Bye ... Take care ...

Read more interesting Articles👇👇

How We Both Can Get $25 Each: A Guide

Read More: A Story of Hope:How Bitcoin Changed Everything 

Read More: "If Winter Comes, Can Spring Be Far Behind?"  

 

follow me on Twitter @hodlxpress

follow me on Facebook @hodlxpress

Tap Here to Earn Free Crypto

Like Share and Subscribe

How do you rate this article?

50


Coins Reporter
Coins Reporter Verified Member

Once a Bitcoiner and forever will be. Love to share my views even if they are unbelievable.


Coinsreporter
Coinsreporter

Let's talk about how cryptocurrency is revolutionising the financial sector. How it's changing your life and my life. The general idea of this blog is to write content that is relevant, up-to-date, useful and interesting.

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.