A technical change made by financial giant BlackRock in its spot Bitcoin ETF application will allow Wall Street banks to get into the game.
The most notable name among Spot Bitcoin exchange traded fund (ETF) applications BlackRock’stechnical change made on the application to Wall Street It opened a door full of opportunities.
BlackRock recently filed a notice that investments in a spot Bitcoin ETF It can be provided not only in crypto money but also in dollars. He added a clause that paved the way. According to CoinDesk’s report This means that people who are not allowed to hold Bitcoin are subject to high regulations. US banks It will allow investors to invest through the spot Bitcoin ETF.
US Securities and Exchange Commission (SEC), BlackRock and Nasdaq among officials November 28 tBased on the notes of a meeting held on , these authorized banks will be able to invest in cash in the spot Bitcoin ETF fund, but then These cash will be converted into Bitcoin and stored by an intermediary..
Despite all these developments, the SEC has not yet approved a spot Bitcoin ETF application, and if it does, it is not yet known what its attitude will be towards this article that will allow banks to participate in cash.
SEC to launch spot Bitcoin ETFs in January next year 90% chance approval is expected.