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Fidelity Bitcoin ETF Proposal: SEC Talks in Advanced Stage, Approval Likely.
According to a report from coin-update.de, the U.S. Securities and Exchange Commission (SEC) recently held discussions with Fidelity regarding its application for a Bitcoin ETF. The securities regulator met with Fidelity and members of CboeBZX to discuss a proposed rule change that would allow CboeBZX to list and trade shares of Fidelity's Wise Origin Bitcoin Trust. Fidelity's proposed ETF model includes participation from industry players with different roles. It allows approved participants and broker-dealers to interact with issuers and custodians to create and trade ETF shares without having to trade cryptocurrencies directly. The discussions...
Fidelity Bitcoin ETF Proposal: SEC Talks in Advanced Stage, Approval Likely.
According to a report by coin-update.de,
The U.S. Securities and Exchange Commission (SEC) recently held discussions with Fidelity regarding its application for a Bitcoin ETF. The securities regulator met with Fidelity and members of CboeBZX to discuss a proposed rule change that would allow CboeBZX to list and trade shares of Fidelity's Wise Origin Bitcoin Trust.
Fidelity's proposed ETF model includes participation from industry players with different roles. It allows approved participants and broker-dealers to interact with issuers and custodians to create and trade ETF shares without having to trade cryptocurrencies directly.
Discussions between the SEC and the applicants regarding the Bitcoin ETF are at an advanced stage. There is speculation that approval of the relevant ETF applications is imminent. The SEC has also been in discussions with other ETF applicants, such as BlackRock, to compare different models.
The possible approval of a Bitcoin ETF could have a significant impact on the cryptocurrency market. Such a financial instrument would make it easier for institutional investors to invest in Bitcoin, which could increase market liquidity and increase investor confidence. The approval of a Bitcoin ETF could also help promote regulatory acceptance of cryptocurrencies and accelerate overall market development.
Additionally, technological advances and increased market adoption through the launch of a Bitcoin ETF could further drive cryptocurrency prices and strengthen the industry as a whole. However, it remains to be seen how the SEC will ultimately decide and what rules and restrictions will apply to potential Bitcoin ETFs.
Read the source article at coin-update.de