Bloomberg analyst predicts potential approval of BTC spot ETF by US SEC before 11/17, with a backup chance before January 10th 📈 #BitcoinWorld #ETFApprovalWatch

1. 💎 BlackRock's Intended Authorized Participants💎:
BlackRock has disclosed plans to involve JPMorgan Securities and Jane Street as its authorized participants for their proposed spot Bitcoin ETF, pending approval from the SEC.

2. 💎Role of Authorized Participants💎:
APs are entities permitted to create and redeem ETF shares, exchanging them either for a basket of securities reflecting the ETF's holdings or for cash.

3. 💎Monitoring by Bloomberg Analysts💎:
Analysts James Seyffart and Eric Balchunas from Bloomberg Intelligence have been closely tracking new S-1 filings to identify selected firms as APs. This disclosure is seen as a crucial step preceding the SEC's decision.

4. 💎SEC's Expected Approval Criteria💎:
Balchunas mentioned SEC's readiness to approve spot Bitcoin ETF proposals that commit to cash-only creations and redemptions while having agreements with authorized participants.

5. 💎High Likelihood of SEC Approval💎:
Both Balchunas and Seyffart estimate a 90% chance that the SEC will permit some firms to launch a spot Bitcoin ETF in early January.

6. 💎Deadline for SEC Decision💎:
The SEC faces a January 10 deadline for Ark Invest and 21Shares' proposal and could rule on similar plans by other firms by that date. Ark, 21Shares, and VanEck have refiled their S-1s,
but only BlackRock disclosed its chosen APs.

7. 💎Details in Effective Prospectus💎:
Firms are not obliged to name APs until they file the effective prospectus, which contains comprehensive information such as AP details, fees, and other pertinent information.

8. 💎Strategic Significance of AP Selection💎:
The selection of APs is a critical aspect of ETF creation and redemption, impacting liquidity,
narket efficiency, and the overall functioning of the ETF.

9. 💎Industry's Focus on Regulatory Decisions💎:
The analysis of SEC decisions highlight the significant impact that approval or denial of a spot Bitcoin ETF can have on the crypto market and its integration with traditional finance.
#etf #BlackRock’s #blackrockethetf #ETFApprovalWatch

That's why $btc  is growing 🚀

Bloomberg #ETF analysts say that starting November 9, the SEC has an eight-day window to approve 12 #Bitcoin-BTC   ETFs
#ETFTrends #ETFApprovalWatch

Leading asset management firm BlackRock announced receiving $100,000 seed funding for its proposed spot Bitcoin exchange-traded fund (ETF).
#ETFLAUNCH #ETFApprovalWatch #cryptocurreny #CryptoisBetter #CryptoNews🔒📰🚫

BIG BREAKING 🚨

#BLACKROCK BITCOIN ETF APPROVAL LIKELY.

BlackRock representatives met with the SEC to discuss the possibility of listing a spot #Bitcoin    ETF
#blackrockinc #ETFApprovalWatch #Blast #opbnb

▪️ SEC Meets with Grayscale to Discuss Spot Bitcoin ETF Listing#btc #ETFTrends #ETFApprovalWatch #SECETFApproval

🇨🇳 China's Financial Giant Harvest HK Files First-Ever #Bitcoin💰 Spot ETF Application in Hong Kong.

#Cryptocurrrency #ETFApprovalWatch #BTC🔥🔥 #BTC-ETF #BTCto40k

Fidelity Files 19b-4 for Spot Ethereum ETF, Aims to Increase Investor Protection in the Crypto Space.

The Fidelity Ethereum Fund aims to launch as a US-regulated spot ETF for the second-largest cryptocurrency by market capitalization. Fidelity's 19b-4 filing said currently, options for U.S. investors' ethereum exposure are limited to over-the-counter (OTC) ether funds that incur high fees and volatile premiums or discounts.

Fidelity argues that the approval of a spot ETF would represent a major win for investor protection in the crypto space by reducing the risks associated with existing ether funds. Account 19b-4 bears similarities to Blackrock's recent filing for a spot ether ETF, for similar reasons.

“Approval of the spot ETH ETP would represent a major win for US investor protection in the crypto asset space,” the filing said. “The Trust, like all other Commodity Based Trust Shares suites, is designed to protect investors from the risk of loss through fraud and bankruptcy arising from holding digital assets, including ETH, on a centralized platform.”

The proposed ETF's pricing mechanism will be similar to the CME Ether futures contract and utilize price input from major spot exchanges. Fidelity argues that this must meet SEC standards requiring oversight sharing agreements with regulated markets of significant size. The filing cites a recent court decision that determined the CME futures market meets these standards for a spot bitcoin ETF.

“Both the Exchange and CME are members of ISG. The only issue remaining to be addressed is whether the ETH Futures market is a market of the significant size that the Exchange and Sponsor believe it to be,” the filing said.

#ETH #ETFApprovalWatch

$ETH will take some test and rebound #ETH
#etf #ETFTrends #EthereumLeads #ETFApprovalWatch $ETH