Blackrocks (BLK) iShares Bitcoin Trust application to the U.S. Securities and Exchange Commission (SEC) this week might stand a better chance than previous attempts by other fund managers thanks to the promise of a surveillance-sharing agreement between exchanges.
On page 36 of the Nasdaq (where the proposed ETF will be listed) 19b-4 filing, it's stated that to mitigate against market manipulation, Nasdaq will be brought in to enter into a surveillance-sharing agreement with an operator of a spot trading platform for Bitcoin (BTC).
https://www.coindesk.com/business/2023/06/16/blackrock-may-have-found-way-to-get-sec-approval-for-spot-bitcoin-etf/-------
If the Blackrock ETF does get approved, the real winner here is going to be $GBTC, Adam Cochran, a partner at venture capital firm Cinneamhain Ventures, wrote in part of Twitter commentary at the weekend.
Because Blackrock will show the path to conversion, and GBTCs 40%+ discount will resolve on top of industry growth.
Cochran said that he thought BlackRocks offering has good odds of getting U.S. regulatory approval.
Very different structure than other efforts by a behemoth who doesnt lose. 30 act redeemable trust w/ redemptions (unlike GBTC) + proposed rule change filing. They came to play, he added.
https://cointelegraph.com/news/grayscale-bitcoin-trust-2023-high-blackrock-etf-filing-buyers----
P.S. It is intriguing also what will be the outcome of Greyscale vs SEC case. There are some unconfirmed rumours that Fidelity is also preparing a spot ETF acquiring Greyscale trust. All this looks pretty promising for better times. Who knows, perhaps this is the last chance to buy Bitcoin at these low prices?!?