BlackRock and Grayscale Meet with SEC on Bitcoin ETF Prospects
• BlackRock met with SEC to discuss its spot Bitcoin ETF application and whether an “in-kind” or “in-cash” redemption model is best • This comes after Grayscale also met with SEC over converting Grayscale Bitcoin Trust into a spot BTC ETF • BlackRock manages $9 trillion in assets and filed for a Bitcoin ETF in June, sending bitcoin price surging • A spot bitcoin ETF would allow mainstream investors easy exposure to cryptocurrency prices • While bitcoin ETF applications have been filed for over a decade, SEC has not yet approved one