The US Securities and Exchange Commission (SEC) has officially accepted BlackRock’s application for a spot Bitcoin exchange-traded fund (ETF). This follows the approval of Bitwise’s application the day before. The SEC’s calendar indicates that BlackRock’s application will be published in the Federal Register and undergo a 21-day public comment period. The competition among firms seeking to introduce a Bitcoin ETF in the US is viewed positively for the cryptocurrency industry. While a spot Bitcoin ETF is still pending approval from the SEC in the US, it is already available in Canada. BlackRock’s filing, submitted a month ago, was updated with a provision for “surveillance sharing” involving Coinbase.

AI Sentiment: Positive