Bloomberg Intelligence ETF Research Analyst James Seyffart reports that BlackRock and Grayscale, two major investment firms with plans to issue a Bitcoin ETF, have recently met with the SEC.
Based on slides that have been made public, Seyffart shows that BlackRock probably prefers in-kind payments for its offer.
In kind versus cash
Highlighting this announcement, the analyst suggests that this decision makes sense as it is probably the cleanest structure for the company and its investors.
The news came alongside a back-to-back report that Grayscale, another prominent investment management firm, also held meetings with the SEC’s division of trading and markets, responsible for approving or rejecting 19b-4s, a form used to inform the SEC about a proposal. change of rules.
Although only the two companies were mentioned by name, Seyffart shares that rumors indicate that other potential Bitcoin ETF spot issuers met with the SEC over the past week.
Bitcoin ETF Approval Coming Soon?
News of the launch of spot ETFs has continued to generate excitement in the community.
On November 19, it was reported that the XRP community experienced a surge of excitement following an application for a BlackRock iShares The filing was later proven to be false, as claimed by industry commentators including Bloomberg ETF analyst Eric Balchunas, prompting an immediate sell-off of the asset.
It is clear that the crypto community is actively looking for any positive news regarding ETF issuance to take advantage of, and this announcement is just one more in the waiting period.
