Amid Bitcoin ETF Race, Wall Street Giants Dot Their Bureaucratic I’s as Likely SEC Action Looms
Gary Gensler’s SEC has some bitcoin ETF reading to do. (Jesse Hamilton/CoinDesk)
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Gary Gensler’s SEC has some bitcoin ETF reading to do. (Jesse Hamilton/CoinDesk)
Jamie Dimon’s bank agreed to play a key role with BlackRock’s proposed bitcoin ETF, just weeks after he told U.S. senators: “I’ve always been deeply opposed to crypto, bitcoin, etc.”
BlackRock will use J.P. Morgan and Jane Street as their authorized participants. Valkyrie has also named Jane Street in addition to Cantor Fitzgerald.
Bitcoin [BTC] is expected to experience a period of downside following a potential ETF approval over the coming weeks as trader’s unrealized profits linger at a level that historically precedes a correction, according to data provider CryptoQuant.
The unknown seed investor agreed to purchase $100,000 shares on October 27, 2023, BlackRock’s latest filing reveals.
The race to provide a key bit of infrastructure for bitcoin [BTC] ETFs – custody services – hasn’t actually been much of a race so far. Crypto exchange Coinbase has dominated so far, winning the job from the majority of applications from the likes of BlackRock, WisdomTree and Valkyrie.
With two months to go before the U.S. Securities and Exchange Commission (SEC) faces another set of deadlines to decide on a large number of applications to form spot bitcoin exchange traded-funds (ETFs), analysts are speculating on how approval of such vehicles would impact the crypto industry.
Delaware’s Department of Justice may be investigating the fake filing made for an apparent XRP exchange-traded fund.
BlackRock CEO Larry Fink (Michael M. Santiago/Getty Images)
The proposed stablecoin, which tokenizes ownership of Treasuries, mentions BlackRock, Circle, Fireblocks and Coinfirm as “institutional partners.”