EddieJayonCrypto

 20 Dec 23

tl;dr

Representatives from BlackRock, Nasdaq, and the SEC met to discuss necessary rule changes for listing a bitcoin ETF, specifically focusing on Nasdaq Rule 5711(d) and surveillance-sharing agreements to mitigate market manipulation risks. BlackRock presented in-kind and in-cash redemption models for t...

Representatives from BlackRock, Nasdaq, and the SEC recently convened to discuss rule changes for listing a bitcoin ETF, emphasizing Nasdaq Rule 5711(d) and surveillance-sharing agreements to mitigate market manipulation risks.

During the meeting, BlackRock presented in-kind and in-cash redemption models for their proposed ETF and subsequently revised the proposal to include cash redemptions to align with SEC preferences. Additionally, industry expert Michael Saylor of MicroStrategy anticipates potential bitcoin ETFs could trigger a significant bull run in 2024, driven by heightened demand and a supply shock.

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