'SEC Says Spot Bitcoin ETF Filings Are Inadequate; Regulator Tells Nasdaq, Cboe That Recent Filings From Blackrock, Fidelity And Others Aren't Clear And Comprehensive' - WSJ
Portfolio Pulse from Happy Mohamed
The Securities and Exchange Commission (SEC) has deemed recent applications for spot bitcoin exchange-traded funds (ETFs) as inadequate. The filings, submitted by asset managers including Blackrock and Fidelity, were found to be unclear and not comprehensive.
June 30, 2023 | 1:38 pm
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NEGATIVE IMPACT
Blackrock's application for a spot bitcoin ETF has been deemed inadequate by the SEC, potentially delaying its entry into the bitcoin ETF market.
The SEC's decision could delay Blackrock's entry into the bitcoin ETF market, which could have a negative impact on its stock in the short term due to potential lost opportunities.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Fidelity's application for a spot bitcoin ETF has been deemed inadequate by the SEC, potentially delaying its entry into the bitcoin ETF market.
The SEC's decision could delay Fidelity's entry into the bitcoin ETF market, which could have a negative impact on its stock in the short term due to potential lost opportunities.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70