8 Bitcoin ETFs In-Play
The SEC has received eight Bitcoin ETF applications including filings from BlackRock and Fidelity. Issuers seem in a race to clinch the inaugural Bitcoin ETF, a product that would allow a swathe of American investors access to Bitcoin without actually holding the cryptocurrency.
BlackRock CEO Larry Fink opined that approval is a matter of when, not if, hinting at the approval of his firm’s submission in four to six months.
Historically, the SEC has denied Bitcoin ETF applications on the grounds of market manipulation and inadequate surveillance. The prevailing rebuttal points to the approval of Bitcoin Futures ETFs, a similar product.
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