The rivalry to introduce the first Bitcoin ETF in the U.S. has heated up. BlackRock and Bitwise, two big market players, have each proposed their own ETF, and the United States Securities and Exchange Commission is quite interested in these plans.
Both firms are vying for the chance to be the first to market with a revolutionary investment product that would broaden the pool of people who can afford to invest in Bitcoin.
BlackRock’s application for the iShares Bitcoin Trust was officially docketed by the SEC, marking a significant step in the regulatory review process.
The company’s revised application included a “surveillance sharing” clause, partnering with Coinbase crypto exchange to monitor and report potential illicit activities. This move came after the SEC had signaled concerns about the initial application.
Bitwise, on the other hand, also received acknowledgment for its spot Bitcoin ETF application, adding to the growing list of contenders seeking SEC approval. Alongs
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