At the same time, the U.S. Securities and Exchange Commission began accepting stock exchange filings, a sign that further excited the markets.
The Securities and Exchange Commission (SEC) of the USA could approve for the inclusion of a exchange traded fund (ETFs) of Spot Bitcoin. At once, began accepting bag submissionsa sign that made the markets more excited.
Last Friday, the Nasdaq Stock Market presented the amendments corresponding to the Bitcoin Spot ETF Applications of asset managers BlackRock and Valkyrie, among others. These presentations could be constituted as one of the last stages in the process of approval.
While, SEC deadline expires on January 10 For indicate whether to approve the ETF proposal bitcoin spot Ark Invest. And, according to various ETF issuers and specialists, the SEC is expected to approve on that date said product. A possible approval could mean a increased adoption of cryptocurrencies in the United States and all over the world.
Against this backdrop, the bitcoin price experienced a strong volatility throughout the last week, oscillating between US$41,000 and the US$46,000. In that framework, This trend is likely to continue. while they wait news from the SEC.
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Blackrock and JP Morgan, partners in the ETF
The world’s largest asset manager announced that the investment bank led by Jamie Dimon will act as authorized participant (PA) in it ETFs. Also joining this group are Merrill Lynch either Citigroupthe two other partners named by BlackRock on this front.
As explained from BlackRocka PA is a financial institution that “dynamically” manages the creation and redemption of ETF units in the primary market.
Each PA have a agreement with an ETF issuer that gives you the right of create and redeem ETF shares. Additionally, such authorized participants may act on own account or on behalf of market participants and are not remunerated by ETF issuers.
Source: Ambito
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