The Latest Breaking News from BlackRock

Issuers including Fidelity and Galaxy are jockeying for position to gain an early advantage in the Bitcoin race.

It was reported last week that the SEC may inform hopeful issuers this Tuesday or Wednesday whether they are cleared to launch their spot Bitcoin ETF.

Last week, U.S. prosecutors decided not to pursue additional charges against Bankman-Fried, the former CEO of the fallen crypto empire FTX who was found guilty of seven counts of fraud in November.

The naming of the AP could be tricky, according to an ETF analyst because the SEC not only wants them identified in the documents but requires issuers to make the AP the underwriter of the spot Bitcoin ETF.

Dimon made headlines last month when he vocally criticized Bitcoin, the world's largest crypto asset by market capitalization, saying he would "close down" BTC if he was the one running the U.S. government as the crypto asset, along with other cryptocurrencies, is used by criminals.

Bitwise, one of the aspiring companies in the race, has recently submitted its updated S-1 Form, revealing its planned $200 million seed investment for its spot BTC offering.

Blackrock recently launched ETFs that make it easier to invest in TIPS and build a bond ladder.

Wall Street's new favorite investments all have significant potential, but face equally significant risks.

The new year is set to provide three major catalysts for bitcoin in 2024: The Halvening is likely to raise prices, bad actors are being forced out and major institutions are readying bitcoin-based ETFs.

Like BlackRock and ARK, Grayscale also initially said it would use the in-kind creation and redemption model on its spot Bitcoin ETF. But as Wall Street giants ironed out details with the regulator – probably looking to be a part of the first wave of applications to be approved by…

Over the past few weeks, several companies, including Blackrock and ARK, amended their S-1 registration with the SEC, to make it to the supposed first batch of approved spot Bitcoin ETF issuers.