BlackRock Joins Grayscale in Spot Bitcoin ETF Pursuit Talks with SEC
The race for a spot Bitcoin ETF is heating up as major players like BlackRock and Grayscale intensify their efforts to gain regulatory approval. The U.S. Securities and Exchange Commission (SEC) is now actively engaging in discussions with both firms regarding their respective applications.
Grayscale’s Latest Move With BlackRock
In a simultaneous development, on November 20, the SEC engaged in discussions with representatives from Grayscale Investments concerning the This meeting, part of a series that began in 2025, focused on a proposed rule change that would enable the NYSE Arca to list and trade shares of the Grayscale Bitcoin ETF. This signifies a crucial step forward in Grayscale's long-standing bid to convert its existing Bitcoin Trust (GBTC) into a spot ETF.
BlackRock Enters the Fray: ETF Application Discussions with SEC
BlackRock, the world's largest asset manager, has also been actively pursuing a spot Bitcoin ETF.
BlackRock met with the U.S. Securities and Exchange Commission to discuss its spot Bitcoin exchange-traded fund (ETF) application. Posts circulated on Twitter, indicating growing anticipation and heightened scrutiny surrounding BlackRock's ETF aspirations. The details of these meetings remain closely guarded, but their occurrence underscores the seriousness with which the SEC is considering these proposals.
What This Means for the Future of Bitcoin ETFs
The simultaneous discussions between the SEC and both Grayscale and BlackRock signal a potential turning point in the quest for a spot Bitcoin ETF. Approval of such an ETF would provide investors with a more accessible and regulated way to gain exposure to Bitcoin, potentially driving significant institutional investment into the cryptocurrency market. While regulatory hurdles remain, the increased engagement from major players like BlackRock and Grayscale, coupled with the SEC's willingness to engage in dialogue, offers a glimmer of hope for the future of Bitcoin ETFs.