Physical Bitcoin ETFs approaching the deadline for a final decision

in Project HOPE3 months ago

Time continues to pass and with it the scenario around the Bitcoin ETF is maturing, I say it this way because as of today 13 participants have joined while BlackRock modifies ETF model.

In attention to information disclosed by Jesse Coghlan of Cointelegraph, "Swiss asset manager Pando Asset has become an unexpected participant in the late race for spot Bitcoin exchange-traded funds (ETFs) in the United States."

It has also been mentioned that "Like other ETF offerings, the trust aims to track the price of Bitcoin with the custody division of cryptocurrency exchange Coinbase to hold Bitcoin on behalf of the trust"

An interesting tidbit is that it was learned that BlackRock's people met with the SEC to discuss the ETF offering, "Meanwhile, the SEC met with executives from BlackRock and Invesco on Nov. 28 to discuss their ETF offerings, according to agency documents consulted"

To wit, "BlackRock submitted a revision to its redemption model to address SEC concerns from an earlier meeting about balance sheet impacts and risks to U.S. broker-dealers"

SOURCES CONSULTED

Cointelegraph. Bitcoin ETF race gets 13th entrant, BlackRock revises ETF model. Link

OBSERVATION:

The cover image does not belong to the author: @lupafilotaxia, the image was taken from: Cointelegraph

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