Giants of the financial sector black rock (New York Stock Exchange:BLK) recently announced the spot Bitcoin (BTC-USD) The exchange-traded fund (ETF) was given the ticker IBIT. An amended S-1 filing with the U.S. Securities and Exchange Commission (SEC) reveals that his new IBIT ticker will be created on December 18, 2023.
In a memo dated November 20, 2023, the SEC said it had met with staff from both BlackRock and BlackRock. Nasdaq Regarding iShares Bitcoin Trust. “This discussion concerned proposed changes to the rules of the NASDAQ Stock Market LLC for listing and trading the shares of iShares Bitcoin Trust pursuant to NASDAQ Rule 5711(d),” the document states.
BlackRock IBIT and other Bitcoin ETFs
As 2023 draws to a close, the SEC is preparing to make similar decisions on several similar Bitcoin ETFs. The regulator is expected to announce verdicts on other financial institutions’ applications, including: arc 21 share and tree of wisdomper block.
Benzinga Report of meeting between SEC and BlackRock:
“It is unclear whether the SEC has responded positively to the presentations or meetings. There is still plenty of time before a final decision must be made and the SEC will review the details of each application before making a final decision. It could take a while to sort out. Many experts expect a final decision to be made by early 2024. Specifically, JPMorgan We are aiming for the final decision date of January 10th.”
Enthusiasm for Bitcoin has increased recently, with the growth of cryptocurrencies driving the rally. Some experts are urging investors to jump on the cryptocurrency before Bitcoin ETFs begin trading and interest in the digital asset grows further.
Although BTC is struggling a bit today, this word from the SEC is positive as the cryptocurrency has actually been doing well lately, suggesting increased optimism for the Bitcoin ETF decision. There is a possibility that it will become. The news that the BlackRock IBIT ticker has been set is also a positive development.
On the date of publication, Samuel O’Bryant did not have (directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the author and are subject to InvestorPlace.com Publishing Guidelines.