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Bitcoin ETF: BlackRock, Nasdaq in Negotiation with SEC

Blackrock ETF

Bitcoin ET

Blackrock and Nasdaq discuss a possible investment fund for Bitcoin and ETFs. The discussion will include Nasdaq’s plans to trade shares with iShares Bitcoin Trust and strategies to avoid fraudulent activities. 

Large financial players such as BlackRock and Nasdaq have been negotiating with the U.S. Securities and Exchange Commission (SEC) about the possibility of creating an investment fund specifically for Bitcoin and exchange-traded funds (ETF). They held their second meeting of the month to establish the regulations needed.

The most important issue to be discussed is the Nasdaq’s plans to trade shares from the iShares Bitcoin Trust. Under Nasdaq Rule 5711(d), they are considering specific rules about listing and trading shares to ensure transactions are safe and fair in the marketplace and prevent fraud.

One of their main discussion topics involves sharing information to regulate and avoid fraudulent activity in the market. According to sources, the SEC is particularly worried about those who manipulate cryptocurrency markets; hence they seek to ensure the ETF remains safe.

BlackRock and the ETF also met in November when BlackRock revealed two ways they could help exchange its cryptocurrency holdings directly for Bitcoin or through cash transactions.
Recently, BlackRock amended their proposal to accommodate SEC preferences by including cash as a payment method. Some experts, like MicroStrategy’s chief executive Michael Saylor from MicroStrategy, believe this could be an impactful shift for Wall Street and increase demand for Bitcoin by 2024 as more people become interested and fewer are available for purchase.

Read also: BlackRock Aims High: Ethereum ETF Proposal Lands at SEC

 

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Karla brings over 16+ years of experience in the online brokerage industry. She is a finance graduate from Birmingham University, UK, and a forex market enthusiast. Being a true writing fanatic, she pens research-backed reviews for traders to analyse trading strategies and indicators. She has also authored a wide range of educational articles covering the forex industry. Karla is quite interested in checking brokerage companies and studying their performance and growth. Her aim is to describe complex investment mechanisms in an accessible way for traders of any level. Apart from finance, her interests mainly include reading books, fitness, and writing in her journal. Karla believes in the power of writing and wants to write for every layman who knows nothing about finance.
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