Nasdaq And BlackRock Come Together To Discuss Listing Terms With The SEC

BlackRock and Nasdaq have reportedly held multiple discussions with the SEC as of late to explore the possibility of introducing a new Bitcoin ETF (Exchange Traded Fund), with the goal of enhancing Bitcoin investment accessibility and ensuring market security.

Multiple entities meet with the SEC

Representatives via prominent financial entities recently engaged in discussions with the SEC. The purpose of this meeting was allegedly focused around the BlackRock Bitcoin ETF, presenting a novel avenue for individuals to invest in the flagship crypto through the stock market.

The disclosed memorandum in the report indicates that the conversation also delved into the  criteria put forth by Nasdaq for a potential ETF listing, crucial for guaranteeing the secure and equitable operation of the ETF.

These criteria encompass surveillance and compliance measures aimed at preserving market integrity and safeguarding against fraudulent activities. This is particularly pertinent as the SEC expresses concerns about potential market manipulation when it comes to cryptocurrency trading in particular.

Getting closer

BlackRock made a recent adjustment to its Bitcoin ETF proposal, opting for a cash redemption option in alignment with the various preferences established by the regulatory agency. Michael Saylor of MicroStrategy recently suggested that the potential introduction of this Bitcoin ETF could have significant implications for Wall Street, calling it the biggest financial development in over three decades.

Saylor envisions it could result in a substantial increase in the value of BTC in 2024 by facilitating easier access for a broader range of investors. Elsewhere, numerous market and tech analysts have predicted that it is only a matter of time before the ETF is approved.