The United States Securities and Exchange Commission (SEC) has accepted BlackRock's application for a Bitcoin Exchange-Traded Fund (ETF), following a similar acknowledgement of Bitwise's application. This marks the beginning of the regulatory review process for BlackRock's proposal. BlackRock's entry into the Bitcoin ETF race is significant due to its influence in the financial industry, and its decision to pursue a Bitcoin ETF highlights the growing acceptance of cryptocurrencies in traditional finance. BlackRock's CEO, Larry Fink, has expressed belief in Bitcoin as a store of value and a global asset, and the company's registration for a spot Bitcoin ETF is seen as a way to democratize crypto.
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SEC Acknowledges BlackRock's Application for Bitcoin ETF
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