BlackRock resubmits “Bitcoin Spot ETF” application! Will it be successful this time?

According to a Bloomberg report, BlackRock, the world’s largest asset management company, has resubmitted the application documents for the Bitcoin spot ETF through the Nasdaq exchange, adding new details. Prior to this, the US Securities and Exchange Commission (SEC) had said that the company’s application filing was insufficient and lacked the necessary information.

The latest filing shows that BlackRock has appointed Coinbase as the Supervisory Sharing Agreement (SSA) exchange, which will provide market oversight for the bitcoin spot ETF.

On the other hand, other companies that applied for bitcoin spot ETFs have also refilled their documents last week, Fidelity Investments, Invesco, VanEck, WisdomTree and 21Shares (with Ark Investment Cooperative Issue) all choose Coinbase as the SSA exchange.

Analysts said that cryptocurrency market supervision may be the key to the approval of Bitcoin spot ETF. Through supervision, fraud and market manipulation can be greatly reduced, and these risk factors are precisely the US SEC has never allowed any such ETF to pass the customs. the main reason.

BlackRock’s first filing for a bitcoin spot ETF listing in mid-June not only encouraged other issuers to file similar filings, but also spurred a strong rally in the cryptocurrency market, with bitcoin’s gains over the past month alone Just over 15%, and it has risen more than 80% since the beginning of the year.