The Securities and Exchange Commission (SEC) met with BlackRock representatives on December 14th to further discuss the proposed iShares itcoin">Bitcoin">itcoin">Bitcoin exchange-traded fund (ETF).
Unlike previous engagements on November 20th and 28th, Bloomberg Intelligence analyst James Seyffart reported there were no formal presentations at the latest meeting. However, the gathering has stoked speculation that approval of a spot itcoin">Bitcoin ETF in the U.S. could be imminent.
Seyffart reminds that Hashdex, another contender in the itcoin">Bitcoin ETF race, has also recently engaged the SEC’s Office of the Chair. When asked about updated odds of approval given recent comments by SEC Chairman Gary Gensler, Seyffart responded “Yes – we think it’s happening.”
The application has reportedly been revised after the December 11th meeting between BlackRock and the SEC led by Gensler. The SEC still must adhere to a January 15th deadline to make a decision, with a final cutoff of March 15th.
Beyond BlackRock, additional firms including Grayscale, Bitwise, VanEck, WisdomTree, Invesco Galaxy, Fidelity, and Hashdex await the regulatory decision that could unleash billions in institutional investment. An approval would mark a seminal moment for the cryptocurrency industry.
