In a move to boost investor interest in cryptocurrency funds, BlackRock (NYSE: BLK ), the world's largest asset manager, has refined its proposal for an in-kind Bitcoin Spot Exchange-Traded Fund (ETF). The revised proposal, which was presented to the Securities and Exchange Commission (SEC) and Nasdaq officials on Monday, seeks to enable direct trading of Bitcoin (BTC) rather than relying on futures as cash-based ETFs do.
This update to the ETF model aims to address the SEC's persistent preference for cash-oriented Bitcoin Spot ETFs. Despite BlackRock's efforts to provide a product that would allow investors to trade actual Bitcoin, the SEC has historically been cautious about approving ETFs tied directly to the volatile cryptocurrency market.
The initial proposal for the in-kind Bitcoin Spot ETF was put forward to the SEC on November 20. The latest refined version from BlackRock comes after receiving feedback from the SEC staff, indicating the asset manager's commitment to aligning with regulatory standards while also catering to the growing demand for cryptocurrency investment vehicles.
As the market awaits the SEC's response to this new model, BlackRock's push for innovation in the ETF space reflects the ongoing interest in integrating digital assets into traditional investment portfolios. The outcome of this proposal could signal a significant shift in how investors can engage with Bitcoin through regulated financial products.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.