Negotiations are ongoing between BlackRock, the world’s largest asset manager, and the SEC. The agency and the company, which met for the second time in a month yesterday, said that the meeting was about rule changes.
BlackRock, the world’s largest asset manager as of 2023, held its second meeting in a month yesterday with financial giant Nasdaq and regulator Securities and Exchange Commission (SEC) to discuss Bitcoin trading. We discussed the rule changes required for listing exchange-traded funds (ETFs). ). A meeting was held.
Meeting Centered on Nasdaq Rule 5711(d), What is the Nasdaq Rule?
The focus of the meeting was Nasdaq Rule 5711(d). This rule provides certain standards and regulatory guidelines for the listing and trading of commodity-based trust shares on the Nasdaq Stock Exchange. We also detail initial and ongoing listing requirements for Bitcoin ETFs and how to maintain market integrity and guard against fraud.
Bitcoin ETF Talks from Past to Present
At the first meeting, BlackRock presented several models for the Bitcoin ETF. This talk provided a detailed overview of the strategic plan and model required to launch an ETF.
These discussions between BlackRock, Nasdaq, and the SEC represent important developments in the acceptance and viability of ETFs, and future decisions regarding ETFs will depend on the outcome of these discussions. The earliest approval date is January, but some experts predict the third quarter of 2024. Currently, more than 10 companies have applied for the ETF, including BlackRock, VanEck, Grayscale and Ark Invest.
