SEC and BlackRock Met for the Third Time

The SEC is sitting down again with financial giants for Bitcoin ETFs. According to Bloomberg analyst Seyffart, the SEC met with BlackRock for the third time yesterday.

The U.S. Securities and Exchange Commission (SEC) has been increasingly holding discussions with the world’s leading financial service companies regarding spot Bitcoin Exchange-Traded Funds (ETFs). At the heart of these strategic meetings are potential approval processes for Bitcoin ETFs, involving leading firms in the sector like BlackRock, Fidelity Investments, and Grayscale.

According to Bloomberg analyst James Seyffart, the SEC recently held its third meeting with BlackRock, the world’s largest asset manager. Additionally, major investment management firms like Franklin Templeton and Fidelity are also continuing their discussions with the SEC.

The Importance of the Meetings Is Significant

Seyffart noted that officials from the SEC’s Division of Trading and Markets and the Division of Corporation Finance attended these meetings. These two divisions play a critical role in the process of approving or rejecting the rule changes and registration statements for new ETFs.

13 Companies Await Approval

Fidelity Investments and other companies discussed their pending spot Bitcoin ETF applications with the SEC in their recent meetings. These firms also presented the operational workflows that would be implemented upon the approval of their ETFs. Currently, thirteen different companies are awaiting the SEC’s decision on their Bitcoin funds. In the past, the SEC has rejected or postponed applications for spot Bitcoin ETFs for various reasons.

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