The US Securities and Exchange Commission has finally given BlackRock the green light to list and trade options on its bitcoin spot ETF, IBIT.

It has been just eight months since the SEC authorized bitcoin spot ETFs and other managers are still waiting for their applications to be approved by the agency.

It is important to remember that in January, the New York-based asset manager received approval to “launch iShares Bitcoin Trust ETF (IBIT), an exchange-traded product that offers investors direct exposure to bitcoin. The fund received approval along with nine other proposals, including from Fidelity, Ark Invest and Grayscale.”

BlackRock’s next strategic step was to seek to “list and trade IBIT options on the local market,” just as Grayscale and Bitwise, among others, have proposed “listing and trading options for their respective spot Bitcoin ETFs. Although these applications are still awaiting SEC approval.”

The SEC reported on Friday, September 20 in a filing the approval of BlackRock’s proposal on an “accelerated” basis. However, it clarified that it is simply an approval stage, since it still needs to be approved by the OCC (Office of the Comptroller of the Currency) and the CFTC (Commodity Futures Trading Commission), so that it can then be official.

M.Pino

Source: diariobitcoin

(Reference image source: Erling Løken Andersen in Unsplash)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on Twitter and Instagram

La entrada BlackRock to offer options on its bitcoin spot ETF apareció primero en Bitfinance.

Bitcoin reached the $47,000 mark for the first time since April 2022, following a series of form submissions modified by BlackRock Inc., Ark and other potential issuers of publicly traded funds (ETFs). This move, highlighted by analysts, represents a decisive effort to launch cryptocurrency investment products.

According to Bloomberg reports, regulators in the United States are in favor of approving, for the first time, ETFs that invest directly in crypto assets. This regulatory change has been a catalyst for the recent increase in the value of Bitcoin, which registered an increase of 6.2%, reaching $47,007.

This rise is the most significant since November 15 and marks a return to levels not seen since before the cryptocurrency crisis in the second half of 2022. Recall that Bitcoin had reached an all-time high of almost $69,000 in November 2021.

Bartosz Lipinski, CEO of Cube.Exchange, commented that the volatility of the markets last week has given way to a more stable trend, while investors await decisions on Bitcoin ETF applications.

In the cryptocurrency field, companies such as Fidelity, Invesco, Galaxy Digital and WisdomTree also filed amended S-1 applications with the SEC. The regulator has until January 10 to decide on these requests, generating expectations in the market about a possible joint announcement.

SEC Chairman Gary Gensler issued warnings about the risks inherent in investing in cryptocurrencies in a recent post on a social media platform.

The cryptocurrency market overall experienced a rebound, with Ethereum growing by 3.8% and others such as Cardano, Solana’s SOL and Polkadot recording increases between 7% and 9%. Bitcoin currently represents just over half of the total cryptocurrency market capitalization, valued at $1.7 trillion.

Cryptocurrency-related stocks also showed positive behavior. Coinbase Global, the largest cryptocurrency exchange in the US, increased by 2.3%, while Bitcoin mining companies, Marathon Digital and Riot Platforms, experienced rises of more than 7%. On the other hand, MicroStrategy, a software company that has been a benchmark for bitcoin investors, suffered a drop of 1.2%.

K. Tovar

Source: WSJ

(Reference: Traxer, Unsplash)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on Twitter and Instagram

La entrada Bitcoin surpassed the $47,000 barrier apareció primero en Bitfinance.

This Wednesday, BlackRock financial Management’s chief investment officer, Rick Rieder, revealed in an interview conducted by CNBC’s Squawk Box BlackRock’s interest in venturing into cryptocurrencies, ensuring that the company has already invested a percentage of its portfolio in digital assets.

The CEO of the company, reported that with more than USD 8.6 trillion in assets under management BlackRock has “begun to venture a bit” in the crypto market, and although he highlighted the volatility of bitcoin, he currently acknowledged that many investors were looking for “places that appreciate under the assumption that inflation increases as debts accumulate. “

“Keeping a portion of what you have in cash in things like crypto seems to make some sense to me, but it wouldn’t support a certain target allocation or holding,” Reider reported.

The executive also said that from his perception “technology has evolved and regulations have evolved to the point where several people believe it should be part of the portfolio.”

Although the percentage of BlackRock’s assets that will be under management is not known in detail, it is presumed that the company may possibly use bitcoin derivatives in other assets as part of the investment scheme.

K. Villarroel

Source: cointelegraph

La entrada BlackRock opens its doors to receive bitcoin apareció primero en Bitfinance.