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According to Bloomberg ETF analysts, major players such as BlackRock and Fidelity Investments, whose total assets under management are estimated to exceed $25 trillion, along with other spot Bitcoin ETF applicants, are set to meet with officials from the U.S. Securities and Exchange Commission (SEC) at a planned meeting next week. The meeting claim followed the U.S. regulator’s request for all companies that applied for a spot Bitcoin ETF to reapply, detailing their surveillance-sharing partners and other necessary specifics.
Giants to Meet SEC Officials for Spot Bitcoin ETF
Bloomberg ETF analysts Eric Balchunas and James Seyffart signaled information from a reliable source stating that the spot Bitcoin ETF applicants would meet with U.S. regulatory body SEC officials at a meeting planned for next week. Balchunas added that the meeting would discuss possibilities related to spot Bitcoin ETFs and necessary changes in the rules, while mentioning, “To be clear, it’s not 100% possible to confirm this claim is true! We’re just trying to share interesting or useful things we find from official sources.”
It is known that SEC officials regularly meet with ETF applicants to give approval or rejection decisions and clarify their stance after an official application. Under the leadership of Chairman Gary Gensler, this meeting, focused on spot Bitcoin ETFs, will be particularly important as the SEC has been consistently rejecting spot Bitcoin ETFs while giving the green light to other similar ETFs.
Last month, the U.S. regulator greenlit Volatility Shares 2x Bitcoin Strategy ETF, the first leveraged Bitcoin futures ETF, following Bitcoin ETF applications, leading to speculation that the SEC may now greenlight a spot Bitcoin ETF.
BlackRock CEO Larry Fink Praised Bitcoin
On July 5, BlackRock CEO Larry Fink made significant remarks on Fox Business. Fink stated his belief that cryptocurrency, particularly Bitcoin (BTC), could revolutionize the financial system.
Fink believes that cryptocurrency ETF applications are a way to democratize the crypto market and make it cheaper by reducing costs. While it was noted that the BlackRock CEO praised Bitcoin, his mention of it as an international asset and digital gold made a huge splash.
