Representatives from BlackRock and the Nasdaq met with the United States Securities and Exchange Commission to discuss the proposed rule allowing the listing of a spot Bitcoin (BTC) exchange-traded fund, or ETF.
According to a Nov. 20 SEC memo, BlackRock provided a presentation detailing how the firm could use an in-kind or in-cash redemption model for its iShares Bitcoin Trust. It’s unclear how SEC officials responded to the two proposed models or if they intend to approve a spot BTC ETF after numerous delays and rejections.
Looks like @BlackRock also met with SEC! There’s a couple slides in relation to in-kind vs cash creation. Based on this it looks like BlackRock prefers in-kind for their #bitcoin ETF (makes sense as its probably cleanest structure for them & end investors) h/t @btcNLNicohttps://t.co/AK0XspL4zJpic.twitter.com/eeuUT9T5mn
Many reports have suggested the SEC could be nearing a decision on a spot BTC ETF for listing on U.S. markets, an approval that would be one of the most significant positive trends toward mainstream crypto adoption. SEC officials also met with Grayscale representatives on Nov. 20 in the firm’s bid for listing a Bitcoin ETF.
BlackRock is one of many firms with spot crypto ETF applications in the SEC pipeline awaiting a response, including Fidelity, WisdomTree, Invesco Galaxy, Valkyrie, VanEck and Bitwise. The asset management company first applied for listing a spot BTC ETF in June on the Nasdaq stock exchange.
A video of SEC chair Gary Gensler from 2019 resurfaced in October, criticizing the commission’s “inconsistent” approach to spot BTC products. It’s unclear whether the SEC chair will get behind efforts for crypto-linked investment vehicles, but the commission has previously approved ETFs tied to Bitcoin and Ether (ETH) futures.
Sir Keir Starmer has said he will be “looking towards a better, brighter future” in his first Christmas message as prime minister.
It comes almost six months into the Labour leader’s time in Downing Street, with the prime minister currently having to battle criticisms of his party’s management of the economy and the direction he is taking the country.
His message takes an optimistic tone, while also encouraging people to “look after those around us” and wishing for peace in the Middle East.
Sir Keir said: “This Christmas, people will be travelling up and down the country. Heading home, visiting relatives and loved ones to celebrate together the hope and joy of this special season.
“It’s a time to remind ourselves what’s really important. Family. Friendship. And fellowship between all people.
“Being there for one another – in these celebrations, as well as the more difficult times.”
The prime minister went on: “I’d like especially to thank those who will spend their Christmas serving others this year. In our NHS and emergency services, our Armed Forces and the churches and charities that will welcome every person this Christmas.
“Because I know that this is not an easy time for everyone, and my thoughts are with all those who are lonely this Christmas. Having a tough time, missing a loved one. You are not alone.
“Because as Christians celebrate the birth of Jesus Christ, the Christmas story reminds all of us to reach out to one another. To care for one another. And to look after those around us.
“This Christmas, I will be hoping for peace, particularly in the Middle East as the birthplace of the Christmas story.
“I’ll be looking towards a better, brighter future for every person and celebrating the joy and wonder that Christmas brings.
“So, from my family to yours, I hope you have a very merry Christmas.”
Kemi Badenoch, the leader of the Opposition, has also shared a Christmas message.
It strikes a similar tone to Sir Keir’s, although shares more personal anecdotes.
For example, the Tory leader says Christmas is her “very favourite time of year” due to “having lots of family around, seeing my friends, eating, drinking, having fun, making merry”.
She goes on to thank everyone in the country for “supporting each other”, and encouraging people to “support all of those people who need our assistance”.
Sir Ed Davey, the leader of the Liberal Democrats, paid tribute to young carers in his Christmas message.
He looked after his sick mother as he was growing up, and tried to get a Christmas number one with a song raising awareness of young carers.
Sir Ed said: “Carers embody the Christmas spirit of love, selflessness and generosity.
“So I hope we can all take some time to think of them, and keep them in our hearts.”