BlackRock Engages in Discussions with SEC Over Spot Bitcoin ETF Structure

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The price of Bitcoin reached a new high for the year, hitting $38,475, but failed to close above the important $38,000 mark. Analysts believe that the market is trying to shake out investors who are positioning themselves for a potential Bitcoin ETF approval. BlackRock, the world’s largest asset manager, is in discussions with the US Securities and Exchange Commission (SEC) regarding the structure of its spot ETF. They have proposed a revised model that aims to lower transaction costs and shift execution risks to crypto market makers. There is a 90% chance of a spot Bitcoin ETF approval by January 10, according to Bloomberg’s ETF analysts.

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