The US Securities and Exchange Commission (SEC) has sought a public opinion on exchange-traded fund (ETF) applications recently filed by asset managers. Submitting public opinion requests is the first step to processing submissions.
Last week, the Securities and Exchange Commission asked the public for their opinion on orders filed through market operator Cboe Global Markets. Instant Bitcoin ETF applications filed on behalf of WisdomTree, VanEck, Invesco Galaxy, Wise Origin, and joint application by Ark Invest and 21Shares.
In a separate document, the regulator asked for an opinion on the application filed by Nasdaq on behalf of BlackRock, the world’s largest asset manager. BlackRock sought regulatory approval for a Bitcoin spot ETF in June, Finance Magnates reports.
In the application, the company indicated that the fund would be called the iShares Bitcoin Trust and would use custodial services provided by Coinbase. In addition, BlackRock plans to use CME CF Bitcoin Reference Rate (BRR) to track the price of Bitcoin. BRR is a daily reference rate for the price of Bitcoin in US dollars.
However, according to documents released by the Securities and Exchange Commission, applications must be filed with the Federal Register before a final decision can be made. Once applications are filed in the registry, the SEC has between 45 and 90 days to make a decision.
Fresh Cboe Files Applications
A week ago, Cboe filed amended applications to list Bitcoin ETFs on behalf of Fidelity, WisdomTree, VanECK, and Invesco, after entering into a Watch Share Agreement (SSA) with Coinbase.
The agreement, which the market operator said would be executed before the ETFs could be listed, is part of recommendations made by the Securities and Exchange Commission. The Social Security Agreement (SSA) is an agreement entered into by the company that lists the Bitcoin ETF and spot exchange. Under the agreement, the exchange is required to share any information about suspicious activity in the market with the regulator.
In the past, the Securities and Exchange Commission (SEC) has denied applications for Bitcoin ETFs on the grounds that the offerings do not meet standards to prevent fraud and market manipulation. In 2021, the authority rejected the application by VanEck on the same grounds.
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The US Securities and Exchange Commission (SEC) has sought a public opinion on exchange-traded fund (ETF) applications recently filed by asset managers. Submitting public opinion requests is the first step to processing submissions.
Last week, the Securities and Exchange Commission asked the public for their opinion on orders filed through market operator Cboe Global Markets. Instant Bitcoin ETF applications filed on behalf of WisdomTree, VanEck, Invesco Galaxy, Wise Origin, and joint application by Ark Invest and 21Shares.
In a separate document, the regulator asked for an opinion on the application filed by Nasdaq on behalf of BlackRock, the world’s largest asset manager. BlackRock sought regulatory approval for a Bitcoin spot ETF in June, Finance Magnates reports.
In the application, the company indicated that the fund would be called the iShares Bitcoin Trust and would use custodial services provided by Coinbase. In addition, BlackRock plans to use CME CF Bitcoin Reference Rate (BRR) to track the price of Bitcoin. BRR is a daily reference rate for the price of Bitcoin in US dollars.
However, according to documents released by the Securities and Exchange Commission, applications must be filed with the Federal Register before a final decision can be made. Once applications are filed in the registry, the SEC has between 45 and 90 days to make a decision.
Fresh Cboe Files Applications
A week ago, Cboe filed amended applications to list Bitcoin ETFs on behalf of Fidelity, WisdomTree, VanECK, and Invesco, after entering into a Watch Share Agreement (SSA) with Coinbase.
The agreement, which the market operator said would be executed before the ETFs could be listed, is part of recommendations made by the Securities and Exchange Commission. The Social Security Agreement (SSA) is an agreement entered into by the company that lists the Bitcoin ETF and spot exchange. Under the agreement, the exchange is required to share any information about suspicious activity in the market with the regulator.
In the past, the Securities and Exchange Commission (SEC) has denied applications for Bitcoin ETFs on the grounds that the offerings do not meet standards to prevent fraud and market manipulation. In 2021, the authority rejected the application by VanEck on the same grounds.
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