Steps have been taken to enter the first ever Bitcoin spot application into the Federal Register. Nonetheless, the US Securities and Exchange Commission (SEC) remains skeptical of market success and has rejected the first approval attempts from companies such as BlackRock and Ark Invest. The Bitcoin spot ETF application race has continued with stated amendments in accordance with SEC commentary. Heavily anticipated to make further progress is Black Rock in charge of submission; other contenders are Wise Origin, VanEck, Invesco Galaxy, WisdomTree, and ARK 21Shares. All applications are viewable for public solicitations by the Chicago Board Options Exchange (CBOE).
Sentiments around a potential future of the cryptocurrency in the US strikingly raises with the possibility of being approved, sitting at the forefront is gold giant BlackRock whose continuous attempts challenged them with the need to add a reconciliatory contractual surveillance agreement between regulators and consumers with aid from Coinbase. This stroke of luck witnessed an abrupt surge of 18% on Coinbase’s stocks only after being advised on the nomination.
It is not unknown that there has been growing discomfort amongst crypto investors concerning requests for personal information; equity exchanges however have no remnant of the skeptic views due to its consistency in such mannerisms overseen by the Security and Exchange Commission. Historically, exchanges were subject to subpoena whereby regulators carry a dominated authority to compile documentation of trading and trader characteristics and other relevant papers.
