BlackRock, Nasdaq, and the United States Securities and Exchange Commission (SEC) recently held discussions regarding the listing of a spot Bitcoin exchange-traded fund (ETF). The meeting focused on the necessary rule changes required to list the iShares Bitcoin Trust on the NASDAQ Stock Market.
The discussions revolved around NASDAQ Rule 5711(d), which outlines the requirements for the initial and continued listing of Commodity-Based Trust Shares on Nasdaq. This rule establishes regulatory guidelines and specific criteria for listing, including compliance measures and surveillance mechanisms to ensure market integrity and protect against fraud.
This was not the first time that the topic of listing a spot Bitcoin ETF was discussed. In a previous meeting, BlackRock and Nasdaq presented a proposal to the SEC, outlining how the iShares Bitcoin Trust could be listed using an in-kind or in-cash redemption model.
On December 14, the SEC held another round of discussions with asset managers proposing a spot Bitcoin ETF. Officials from SEC Chair Gary Gensler’s office were present to discuss the proposed rule change that would allow major exchanges to list the spot Bitcoin ETF.
Overall, these discussions highlight the ongoing efforts to establish a regulatory framework for spot Bitcoin ETFs, ensuring market integrity and investor protection.
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | North America |
| Countries | 🇺🇸 |
| Sentiment | neutral |
| Relevance Score | 1 |
| People | Gary Gensler |
| Companies | BlackRock, United States Securities and Exchange Commission (SEC), Nasdaq |
| Currencies | Bitcoin |
| Securities | None |
