an application for a Bitcoin spot exchange traded fund . The investment company is the world’s largest and it would be the first crypto spot ETF in the United States, if it receives approval.by the Nasdaq stock exchange with the U.S. Securities and Exchange Commission , Coinbase Custody Trust Company would be the custodian of the fund’s Bitcoin holdings and Bank of New York Mellon would custody its fiat. BlackRock’s iShares Bitcoin Trust would be traded as Commodity-Based Trust Shares.
The Bitcoin price will be updated “at least” every 15 seconds during regular market trading using the CF Benchmarks Index.“The assets of the Trust consist primarily of bitcoin held by a custodian on behalf of the Trust.”The document notes that previously approved spot exchange traded products in the commodities and currency markets “are generally unregulated and […] the Commission relied on the underlying futures market” as “the basis for approving” trust shares in the past.
“As such, the regulated market of significant size test does not require that the spot bitcoin market be regulated in order for the Commission to approve this proposal.”to argue for the soundness of the Bitcoin futures after the SEC rejected its application to create a spot Bitcoin ETF.
According to a filling by the Nasdaq stock exchange with the U.S. Securities and Exchange Commission, coinbase Custody Trust Company would be the custodian of the fund’s Bitcoin holdings and Bank of New York Mellon would custody its fiat.
Coin Coin Latest News, Coin Coin Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: CoinDesk - 🏆 291. / 63 Read more »
Source: TheBlock__ - 🏆 464. / 53 Read more »
Source: Utoday_en - 🏆 295. / 63 Read more »
Source: MarketWatch - 🏆 3. / 97 Read more »
Source: CNBC - 🏆 12. / 72 Read more »
Source: TheBlock__ - 🏆 464. / 53 Read more »