The US Securities and Exchange Commission (SEC) has accepted BlackRock’s application for a spot Bitcoin exchange-traded fund (ETF).
The SEC’s official calendar now shows BlackRock’s application will be published in the Federal Register, starting a 21-day public comment period.
On the docket
BlackRock’s application to launch a spot Bitcoin exchange-traded fund (ETF) has been added to the SEC docket as part of the proposed rule change process.
This latest development, recorded on July 13, represents a significant milestone for the Bitcoin-related proposal currently being screened by the SEC.
BlackRock initially submitted its filing in June. However, it recently caught the attention of the SEC, prompting an update. The revised application featured a provision for “surveillance-sharing,” specifically with Coinbase.
Before the announcement, the asset manager was known for obtaining ETF approvals. Their positive track record and experience made them optimistic about their proposal.
BlackRock is the world’s largest asset manager, with over $9.4 trillion in assets. The firm filed for its first spot in Bitcoin ETF on June 15, spurring several other firms to do the same.
With this approval, customers can invest in Bitcoin without directly holding the token. They can trade these assets on traditional stock markets.
Before this, the US SEC approved the first Bitcoin futures ETF on June 23.
More bitcoin ETFs to follow
Alongside this announcement, the SEC has also opened the comment period for the Bitcoin ETF filings submitted through the Cboe exchange, inviting input from investors, traders, and the general public.
The filings in question are those made by Wise Origin Bitcoin Trust, WisdomTree Bitcoin Trust, VanEck Bitcoin Trust, and Invesco Galaxy Bitcoin ETF.
Starting from July 17, individuals can submit their comments on the filings within the specified comment period. The website further states that all received comments will be publicly available on the SEC’s website.
