Bitcoin Spot ETFs Unofficially Approved as Firms Amend 19b-4

In a recent twist in the cryptocurrency market, financial giant BlackRock and crypto innovator Valkyrie have filed revised Forms 19b-4 with Nasdaq. This move, according to Eric Balchunas, senior ETF analyst at Bloomberg, signals a significant step towards the unofficial approval of Bitcoin ETFs.

Balchunas commented on the development optimistically, stating that “It’s basically done.” The change to Forms 19b-4, which pertains to the application to list and trade Bitcoin-related exchange-traded funds (ETFs), is a milestone in the cryptocurrency market. Nasdaq, as one of the leading stock exchanges, plays a crucial role in this evolution.

Starting to rain final 19b-4s and (soon) S-1s.. James is on it https://t.co/pP4bk0JlSk

— Eric Balchunas (@EricBalchunas) January 5, 2024

Additionally, Bloomberg reported that the US Securities and Exchange Commission (SEC) has directed issuers to submit the changes. This request from the SEC came after the institution no longer had “additional feedback on the paperwork of several companies following the latest changes.” This commentary suggests that recent changes to the forms of several companies in the cryptocurrency sector have met regulatory expectations.

The advancement of Bitcoin ETFs by market giants such as BlackRock and Valkyrie indicates greater institutional acceptance of cryptocurrencies. While ETFs offer a more accessible and regulated way for investors to gain exposure to Bitcoin, official approval of these funds is still eagerly awaited.

The news is especially relevant for novice and experienced cryptocurrency investors as it reflects a growing trend towards integrating digital assets into the traditional financial system. With financial giants like BlackRock entering the cryptocurrency game, the sector finds itself getting closer to mainstream recognition.

Disclaimer:

The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.