Grayscale and BlackRock File Updated Applications for Bitcoin Spot ETFs with the SEC

Ad Disclosure
Ad Disclosure

We believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. However, this potential compensation never influences our analysis, opinions, or reviews. Our editorial content is created independently of our marketing partnerships, and our ratings are based solely on our established evaluation criteria. Read More
Last updated:
Ad Disclosure
Ad Disclosure

We believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. However, this potential compensation never influences our analysis, opinions, or reviews. Our editorial content is created independently of our marketing partnerships, and our ratings are based solely on our established evaluation criteria. Read More
Author
Trent Alan
Author Categories
About Author

Trent has a background and education in journalism and communications, with two decades of experience editing and writing on a diverse array of topics. In recent years, however, he has shifted his...

Last updated:
Why Trust Cryptonews
Cryptonews has covered the cryptocurrency industry topics since 2017, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas - from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about Cryptonews
Ad DisclosureWe believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. Read more
Bitcoin spot ETF application
Grayscale and BlackRock update their Bitcoin spot ETF applications, reflecting a potential shift in SEC regulatory stance and impacting the broader Bitcoin investment discussion. Image by 24K-Production, Adobe Stock

Today, Grayscale Investments and BlackRock updated their applications for Bitcoin ETFs with the U.S. Securities and Exchange Commission (SEC). 

These moves come amid a shifting regulatory landscape that has seen a recent court ruling favor Grayscale’s previous application. The financial giants are striving for a coveted regulatory green light to expand Bitcoin investment opportunities in the U.S.

Grayscale Investments announced it filed a registration statement with the SEC to register shares of Grayscale Bitcoin Trust (BTC) under the Securities Act of 1933. Similarly, BlackRock updated its spot Bitcoin ETF application.

A Shift in the Regulatory Winds

The most recent updates by Grayscale and BlackRock to their respective applications indicate a continued push to make Bitcoin ETFs a reality. On August 29, a federal court supported Grayscale by condemning the SEC’s previous denial of its Bitcoin ETF application as “arbitrary and capricious.”

Following this, on October 13 the SEC opted not to appeal the court’s decision, hinting at a potential change in its regulatory stance. 

<oembed url=”https://twitter.com/007_Xia/status/1714693437499253215[/embed]

A mandate expected from a DC appeals court tomorrow will likely provide additional clarity on the matter.

With these updated applications, Grayscale and BlackRock are further embedded in an ongoing dialogue with the SEC that has implications for the broader Bitcoin investment community. Both financial institutions have not only shown resilience but also adaptability as they modify their approaches to gain the regulator’s nod.

Matrixport’s research suggests that a successful approval for BlackRock’s Bitcoin ETF could conservatively push Bitcoin’s price to $42,000. This development would no doubt draw attention from market watchers and could signify a more broad-based adoption of Bitcoin investment products.

The Domino Effect: BlackRock and Grayscale

It’s not just Grayscale and BlackRock that are caught in this web of regulatory decision-making; their actions are reverberating throughout the financial sector. BlackRock’s filing back on June 15 inspired several other firms to refile their applications for Bitcoin ETFs. 

The SEC postponed decisions on all Bitcoin ETF proposals, however, keeping the industry on its toes.

While the SEC’s next steps are highly anticipated, the recent updates from Grayscale and BlackRock suggest that the former’s court win might be influencing the larger conversation about Bitcoin ETFs. How this story unfolds could set a precedent for other asset managers eyeing the Bitcoin investment market.

Both Grayscale and BlackRock have clearly staked their claims, yet the regulatory body still holds considerable sway. In this unpredictable climate, market participants await the next chapter in the SEC’s approach to Bitcoin investment products.

More Articles

Bitcoin News
Missouri Lawmaker Proposes Bitcoin Strategic Reserve Fund to Diversify State Investments
Ruholamin Haqshanas
Ruholamin Haqshanas
2025-02-07 11:09:48
Podcast
Gregg Bell, SVP of HBAR Foundation, on Hedera, Creating New Investment Vehicles, Tokenization, and Creating the Trust Layer of the Internet | Ep. 408
2025-02-07 10:48:44
Crypto News in numbers
editors
Authors List + 66 More
2M+
Active Monthly Users Around the World
250+
Guides and Reviews Articles
8
Years on the Market
70
International Team Authors