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Bitcoin‘s price has recently risen above $42,600 following some positive news, with significant developments occurring. We’ve seen updates in many ETF filings, and the SEC has postponed its decision on a few ETH ETF applications. Now, BlackRock has made the anticipated move.
Crypto Currencies Breaking News
The SEC has already announced its decisions for many ETFs before Christmas. On January 10, we will see the final decisions for several spot Bitcoin ETFs. If the SEC is to approve or reject applications without further delay, it could do so this week. In just a few weeks, it will need to decide on many applications, including those from BlackRock.
Just a few minutes ago, we saw a significant file update in the spot Bitcoin ETF application made by BlackRock. The company, which manages $10 trillion in assets and has only received one rejection out of more than 500 applications to date, has determined the ETF code.
If the SEC approves BlackRock at the beginning of January, the iShares Bitcoin Trust will trade on the exchange under the symbol “IBIT.” Remember this code because we might see it hundreds of times next year if approved. The company, which updated the S-1 ETF prospectus this month, signals that the process is progressing following its recent meetings.
Now that the ETF code is set and many file updates have been made, the SEC should be ready for approval. At least, that’s what Bloomberg ETF experts think. In the coming hours, with the opening of Asian markets, we may see the BTC price rapidly increase due to the impact of the latest news.
However, the risk posed by the upcoming PCE data on Friday should not be overlooked.
