In an effort to stimulate investor interest in cryptocurrency funds, BlackRock (NYSE:), the world‘s largest asset manager, has refined its proposal for an in-kind Bitcoin Spot Exchange-Traded Fund (ETF) . The revised proposal, submitted to the Securities and Exchange Commission (SEC) and Nasdaq officials on Monday, aims to allow direct trading of Bitcoin (BTC) rather than relying on futures as cash-based ETFs do.
This ETF model update aims to address the SEC’s persistent preference for cash-oriented Bitcoin Spot ETFs. Despite BlackRock’s efforts to provide a product that allows investors to trade real 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 submitted to the SEC on November 20. BlackRock’s latest release comes after receiving feedback from SEC staff, indicating the asset manager’s commitment to aligning with regulatory standards and meeting growing demand for cryptocurrency investment vehicles.
While the market awaits the SEC’s response to this new model, BlackRock’s push for innovation in the ETF space reflects continued interest in integrating digital assets into traditional investment portfolios. The outcome of this proposal could mark a significant shift in how investors can engage with Bitcoin through regulated financial products.
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