Inaayos ng BlackRock ang iminungkahing istraktura ng Bitcoin ETF para mapawi ang mga alalahanin ng SEC
Bitcoin Inaayos ng BlackRock ang iminungkahing istraktura ng Bitcoin ETF para mapawi ang mga alalahanin ng SEC Balita ng Ethereum ng Bitcoin BlackRock has submitted revisions to its spot Bitcoin ETF application to the SEC in an attempt to allay the regulator‘s concerns over market manipulation and broker-dealer registrations, according to meeting minutes between the asset manager and the SEC’s Division of Trading and Markets dated Nov. 28, 2023. BlackRocks proposed solution modifies the current in-kind redemption model that would have the offshore market maker entity prepay cash to the registered broker-dealer entity prior to the delivery of ETF shares during the redemption process. This “prepaid model” aims to isolate the broker-dealer on its balance sheet from risks associated with transferring Bitcoin to the market maker. Additionally, BlackRock argues that retaining an in-kind structure, even with alterations, provides benefits over shifting to a cash redemption method, including lower transaction costs, simpler operations, and resistance against manipulation schemes. The asset manager believes addressing the balance sheet and broker-dealer registration dependencies directly through adjusted timing and custody transfers allows the Bitcoin ETF application to clear regulatory procedures while optimizing shareholder incentives. Whether the updates provide sufficient guardrails to offset SEC unease regarding spot Bitcoin exposure for retail investors