The SEC is once again at the negotiating table with financial giants regarding Bitcoin ETFs. According to Bloomberg analyst Seifert, the SEC held its third meeting with BlackRock yesterday. T
he U.S. Securities and Exchange Commission (SEC) is intensifying discussions with the world’s largest financial services companies regarding spot Bitcoin exchange-traded funds (ETFs). These strategy meetings will focus on the potential approval process of Bitcoin ETFs with industry leaders such as BlackRock, Fidelity Investments and Grayscale.
Yesterday, the SEC and BlackRock met for the third time in recent history, according to Bloomberg analyst James Seifert. Additionally, major investment management firms such as Franklin Templeton and Fidelity are conducting their own discussions with the SEC.
The Importance of Meetings is Great
Seifert said that officials from the SEC’s Trading and Markets Division and Corporate Finance Division attended these meetings. These two sections play an important role in the process of approving or rejecting rule changes and new ETF registration statements.
“In recent days, four different participants have been in discussions with the SEC regarding Bitcoin ETF applications. BlackRock met with the SEC yesterday for the third time in the past three weeks; Grayscale, Franklin and Fidelity We had a meeting last week.”
13 Companies Awaiting Approval
Fidelity Investments and related companies discussed pending Spot Bitcoin ETF applications in a recent meeting with the SEC. These companies also submitted to the SEC the operational workflows that will be implemented if the ETF is approved. Currently, 13 different companies are awaiting SEC decisions regarding Bitcoin funds. The SEC has rejected or postponed Spot Bitcoin ETF applications for various reasons in the past.
