What Are Your Thoughts On Bitcoin ETFs? SEC Wants Feedback On BlackRock, ARK Invest
Portfolio Pulse from Murtuza Merchant
The U.S. Securities and Exchange Commission (SEC) is seeking public input on five Bitcoin ETF applications, including ARK 21Shares Bitcoin ETF by Ark Invest, and ETFs from Wise Origin, WisdomTree, VanEck, and Invesco Galaxy. The SEC also called for comments on the iShares Bitcoin Trust by BlackRock Inc, which was submitted on Nasdaq. In related news, Coinbase shares surged up to 16% last week after striking a deal with Cboe's BZX Exchange regarding the ETF applications.
July 17, 2023 | 12:54 pm
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POSITIVE IMPACT
Coinbase's stock surged up to 16% last week after the company struck a deal with Cboe's BZX Exchange regarding the Bitcoin ETF applications.
The surge in Coinbase's stock can be attributed to the company's deal with Cboe's BZX Exchange. This deal, related to the Bitcoin ETF applications, could potentially lead to increased business for Coinbase, thus positively impacting its stock.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
BlackRock's iShares Bitcoin Trust is under review by the SEC, which is seeking public input. This could potentially impact the company's stock depending on the outcome of the review.
The SEC's review and public input process could potentially impact BlackRock's ability to launch its iShares Bitcoin Trust. Depending on the outcome, this could either positively or negatively affect the company's stock.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
BlackRock's iShares Bitcoin Trust was submitted on Nasdaq, which is under review by the SEC.
The SEC's review of BlackRock's iShares Bitcoin Trust, which was submitted on Nasdaq, could potentially impact Nasdaq depending on the outcome of the review. However, the direct impact on Nasdaq's stock is likely to be minimal.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 60