The Latest Breaking News from BlackRock

The major Wall Street regulator has reportedly instructed spot Bitcoin ETF applicants to amend their filings and use the cash creation and redemption model.

The House Judiciary Committee issued more subpoenas last week in its ongoing investigation into whether some finance companies may have violated antitrust laws through their ESG investing practices. The subpoenas include requests for information from the heads of BlackRock and State Street, specifically.

Economy and Society is Ballotpedia’s weekly review of the developments in corporate activism; corporate political engagement; and the environmental, social, and corporate governance (ESG) trends and events that characterize the growing intersection between business and politics.

BlackRock's decision to change Coinbase's role from a prime broker to a prime execution agent may indicate possible alterations in the perceived responsibilities of Coinbase on the investment giant's iShares Bitcoin Trust, its proposed spot Bitcoin ETF.

Bitcoin ended last week at around $41,400, recording a 5.5% loss from the previous week's closing value of around $43,800. It continued to dip Monday, reaching a weekly low of about $40,425.

ARK's latest move suggests that the U.S. Securities and Exchange Commission did not budge on its preferred creations and redemptions model.

BlackRock had two choices for its spot Bitcoin ETF application – give in to the SEC's preferred model or wait until the regulator approves in-kind redemption.

“As Taylor would say, haters gonna hate. You can’t please everyone,” Gray said.

The details were presented by BlackRock to the officials at the U.S. Securities and Exchange Commission (SEC) late last month in its proposed "In-kind Redemption Prepay."

In its recent filing, the spot Bitcoin ETF registration underlined that it will only use cash creations in response to the SEC's instruction to use the cash redemption model.

BlackRock once again sat with some SEC officials — something it appears to have been doing regularly over the past weeks as anticipation for the possible SEC decision on spot Bitcoin ETF applications heightens.