Nasdaq & Coinbase jumps in support of BlackRock Bitcoin spot ETF officially

On Jul 4, 2023

National stock exchange Nasdaq refiled a form to ensure that BlackRock’s Bitcoin spot ETF will remain under the full surveillance of Coinbase & Nasdaq.

Three weeks ago giant fund manager BlackRock applied with the United States Securities Exchange Commission (SEC) to secure regulatory approval for its new product iShares Bitcoin Trust, a spot bitcoin ETF. Following BlackRock’s efforts for the Bitcoin spot ETF, several other fund managers also filed for Bitcoin spot ETF applications with the SEC. Later the SEC agency reportedly said that BlackRock’s application was not adequate & transparent.

BlackRock’s submitted a 19b-4 form with the corresponding regulatory body on behalf of the Nasdaq and confirmed that it will actively keep its eyes on the iShares Bitcoin Trust, in full support of the Nasdaq-listed crypto exchange Coinbase.

BlackRock resubmitted the spot bitcoin ETF application to the SEC through Nasdaq, adding new details that Coinbase Global Inc. will provide market surveillance for the ETF. Firms such as Fidelity Investments, Invesco, VanEck, 21Shares and WisdomTree also amended their filings.…
— Wu Blockchain (@WuBlockchain) July 4, 2023

Earlier this just a few days back popular crypto influencer Andrew already confirmed that BlackRock will grab better support from Coinbase & Nasdaq and that will further bring more chances for BlackRock to get regulatory approval from the SEC and also claimed that there are huge chances that there will be only single Bitcoin spot ETF product, as other players potentially will fail to get regulatory approval.

UPDATE: four different conversations yesterday evening re: #Bitcoin Spot ETF landscape:

– “fully expect @coinbase and @CBOE to become tied at the hip; $COIN could be biggest winner in all of this.”

– “BlackRock will still be first and could be the ONLY spot $BTC ETF approved.”
— Andrew (@AP_Abacus) July 1, 2023

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Bitcoin Price Action

Following the latest BlackRock filing, the trade price of Bitcoin (BTC) surged by nearly 2% within a few hours. The current trade price of Bitcoin is $31,260 & this trade price is currently 1.56% high than the last 24 hours’ trade price.

Nasdaq & Coinbase jumps in support of BlackRock Bitcoin spot ETF officially 1

Nearly 5 years ago, when the first Bitcoin spot ETF concept came to light, almost every person from the crypto sector welcomed the idea & also that news acted as a catalyst to push the trade price of Bitcoin rapidly.

Now after BlackRock’s Bitcoin spot ETF application, a few Bitcoin proponents are opposing the idea of Bitcoin ETF and claiming that such assets will bring a negative impact on Bitcoin’s value & vision.