BlackRock talks to the SEC again about its bitcoin spot etf (IBTC)

joeljaimes1982 (70)Authorized Userin Steem Alliance • 10 months ago

Hello friends, BlackRock appears again in the cryptocurrency market because today it had a secret meeting with the SEC to talk again about spot bitcoin ETF, this news along with the SEC commissioner who had said that it makes no sense in delaying the issuance of the spot bitcoin ETF the market has reacted positively.

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Thanks to this news we are now seeing the recovery in practically the entire cryptocurrency market with bitcoin in a recovery of 1.15% solana at + 5.27 And we have the xrp token at + 2.21 bnb is still in color red in a drop of almost 3% after the news of the resignation of the CEO of Binance, yesterday we could see a bear market but today thanks to this news we can see many cryptocurrencies in green.

Without a doubt, it is a matter of days or at any time it could be launched, although the maximum date would be for the month of January 2024. In fact, we are already practically closing the year, we have a month and a week left to close it to enter the new year 2024 and In January we should have a response and everything indicates that it will be an approval.

So we are facing the last weeks before the issuance of the spot bitcoin ETF. Although I am concerned that there is so much speculation just for the bitcoin ETF, I think that right now we should not focus only on what the etf is but rather You also have to see the potential that a cryptocurrency has, not just Bitcoin or Ethereum, the ETF will give you greater liquidity but it does not mean that the ETF will reach all-time highs.

Yes, the value can increase but we are not going to break highs, we agree, says BlackRock met with SEC officials and everything indicates that right now they are planning to approve the famous bitcoin ETFs but yesterday it was not like that the SEC yesterday they wanted ending Binance in fact achieved their objective after confirming the guilt of the former CEO of Binance and managing to extract a large amount of money from him in fines.

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After achieving a great victory against Binance, I think that the SEC should now focus on the multiple cases it has pending on the desk of pending approvals or rejections and not give the matter so much thought. Back on topic Black Rock made a presentation detailing how the company could use an in-kind or cash repayment model for its IBTC and says it's unclear how SEC officials responded to the two proposed models or if they intend to. approve a spot bitcoin etf.

After numerous delays and rejections, the approval of the ETF is going to come. What happens is that right now they do not want to make it public because they are not interested. They still want the market to have a greater correction and later when they have bought what they wanted to buy, well, now Afterwards they will surely come out with approval, they will come out with everything being fine and great and the value of bitcoin will increase again like the rest of the altcoins.