National stock exchange Nasdaq refiled a form to ensure that BlackRock’s Bitcoin spot ETF will remain under the full surveillance of Coinbase & Nasdaq.
Three weeks ago giant fund manager BlackRock applied with the United States Securities Exchange Commission (SEC) to secure regulatory approval for its new product iShares Bitcoin Trust, a spot bitcoin ETF. Following BlackRock’s efforts for the Bitcoin spot ETF, several other fund managers also filed for Bitcoin spot ETF applications with the SEC. Later the SEC agency reportedly said that BlackRock’s application was not adequate & transparent.
BlackRock’s submitted a 19b-4 form with the corresponding regulatory body on behalf of the Nasdaq and confirmed that it will actively keep its eyes on the iShares Bitcoin Trust, in full support of the Nasdaq-listed crypto exchange Coinbase.
Earlier this just a few days back popular crypto influencer Andrew already confirmed that BlackRock will grab better support from Coinbase & Nasdaq and that will further bring more chances for BlackRock to get regulatory approval from the SEC and also claimed that there are huge chances that there will be only single Bitcoin spot ETF product, as other players potentially will fail to get regulatory approval.
Bitcoin Price Action
Following the latest BlackRock filing, the trade price of Bitcoin (BTC) surged by nearly 2% within a few hours. The current trade price of Bitcoin is $31,260 & this trade price is currently 1.56% high than the last 24 hours’ trade price.
Nearly 5 years ago, when the first Bitcoin spot ETF concept came to light, almost every person from the crypto sector welcomed the idea & also that news acted as a catalyst to push the trade price of Bitcoin rapidly.
Now after BlackRock’s Bitcoin spot ETF application, a few Bitcoin proponents are opposing the idea of Bitcoin ETF and claiming that such assets will bring a negative impact on Bitcoin’s value & vision.