SEC To Approve Bitcoin ETF Soon, Says Former Chairman
Portfolio Pulse from Murtuza Merchant
Former SEC Chairman Jay Clayton believes that the U.S. will eventually approve a spot Bitcoin ETF. This comes after a federal court directed the SEC to re-evaluate Grayscale Investments' request to launch a Bitcoin spot ETF. The SEC has deferred its decision on spot Bitcoin ETF applications from major firms, including BlackRock Inc (NYSE:BLK), Wisdomtree, and VanEck, until October.
September 01, 2023 | 6:10 pm
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BlackRock Inc's application for a spot Bitcoin ETF is under review by the SEC, with a decision deferred until October.
The news directly mentions BlackRock's application for a spot Bitcoin ETF, which is currently under review by the SEC. The outcome of this review could potentially impact BlackRock's operations and reputation in the crypto market. However, as the decision has been deferred until October, the short-term impact on BlackRock's stock is neutral.
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