Meeting of Minds
Fidelity and the United States Securities and Exchange Commission (SEC) recently held a meeting to discuss Fidelity's spot Bitcoin exchange-traded fund (ETF) application. The meeting included representatives from Cboe BZX Exchange, the SEC, and Fidelity.
Seeking Clarity
The meeting focused on the proposed rule change by Cboe BZX to list and trade shares of the Wise Origin Bitcoin Trust. Fidelity provided a presentation outlining the operational framework of the Bitcoin ETF.
Efficiency is Key
The filing emphasized the importance of efficient arbitrage and hedge strategies in the ETF market. It suggested that allowing for physical creation and redemption of shares is critical to enhance trading efficiency and secondary market pricing.
Spot Bitcoin ETF Speculation
There has been much speculation about when a spot Bitcoin ETF will be approved. Hashdex, one of the applicants, anticipates approval by the second quarter of 2024. Bloomberg ETF analysts believe that all spot Bitcoin ETFs will be approved by January 10, which coincides with the SEC's deadline for ARK Invest's application.
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https://trendinginthenews.com/crypto-currency/web3-protocol-blast-surges-to-823-million-tvl-amid-controversy
