{"id":3703,"date":"2023-12-13T07:43:27","date_gmt":"2023-12-13T07:43:27","guid":{"rendered":"https:\/\/stoneblock.hr\/?p=3703"},"modified":"2023-12-13T07:44:13","modified_gmt":"2023-12-13T07:44:13","slug":"blackrock-updates-bitcoin-etf-to-facilitate-bank-participation","status":"publish","type":"post","link":"https:\/\/stoneblock.hr\/hr\/blackrock-updates-bitcoin-etf-to-facilitate-bank-participation\/","title":{"rendered":"BlackRock updates Bitcoin ETF to facilitate bank participation."},"content":{"rendered":"<div data-elementor-type=\"wp-post\" data-elementor-id=\"3703\" class=\"elementor elementor-3703\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-55c1bb81 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"55c1bb81\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-79d483a4\" data-id=\"79d483a4\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-31ec1e9a elementor-widget elementor-widget-text-editor\" data-id=\"31ec1e9a\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><!-- wp:paragraph --><\/p>\n<p>BlackRock has updated its spot Bitcoin ETF proposal, simplifying how Wall Street banks can engage by using cash to form new shares, not just crypto.<\/p>\n<p><!-- \/wp:paragraph --><\/p>\n<p><!-- wp:paragraph --><\/p>\n<p>This &#8216;prepay&#8217; approach lets banks like JPMorgan and Goldman Sachs become authorized participants without holding Bitcoin directly, avoiding regulatory barriers.<\/p>\n<p><!-- \/wp:paragraph --><\/p>\n<p><!-- wp:paragraph --><\/p>\n<p>The proposal was detailed to the U.S. SEC by BlackRock and NASDAQ members.<\/p>\n<p><!-- \/wp:paragraph --><\/p>\n<p><!-- wp:paragraph --><\/p>\n<p>The change could significantly enable banks with strict regulations to partake in Bitcoin investment without direct ownership.<\/p>\n<p><!-- \/wp:paragraph --><\/p>\n<p><!-- wp:paragraph --><\/p>\n<p>In this model, authorized participants would give cash to a broker-dealer who then buys Bitcoin for the ETF, held by Coinbase Custody for BlackRock. This method also transfers risk from the participants to market makers.<\/p>\n<p><!-- \/wp:paragraph --><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t<div class=\"elementor-element elementor-element-beab5d4 e-flex e-con-boxed e-con\" data-id=\"beab5d4\" data-element_type=\"container\" data-settings=\"{&quot;content_width&quot;:&quot;boxed&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-8f0b968 elementor-widget elementor-widget-image\" data-id=\"8f0b968\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"551\" src=\"https:\/\/stoneblock.hr\/wp-content\/uploads\/2023\/12\/72916e35-94eb-466b-aa9c-addd6e0833b5.webp\" class=\"attachment-large size-large wp-image-3705\" alt=\"\" srcset=\"https:\/\/stoneblock.hr\/wp-content\/uploads\/2023\/12\/72916e35-94eb-466b-aa9c-addd6e0833b5.webp 921w, https:\/\/stoneblock.hr\/wp-content\/uploads\/2023\/12\/72916e35-94eb-466b-aa9c-addd6e0833b5-300x207.webp 300w, https:\/\/stoneblock.hr\/wp-content\/uploads\/2023\/12\/72916e35-94eb-466b-aa9c-addd6e0833b5-768x529.webp 768w, https:\/\/stoneblock.hr\/wp-content\/uploads\/2023\/12\/72916e35-94eb-466b-aa9c-addd6e0833b5-18x12.webp 18w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-d837eeb e-flex e-con-boxed e-con\" data-id=\"d837eeb\" data-element_type=\"container\" data-settings=\"{&quot;content_width&quot;:&quot;boxed&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-c4d0cdd elementor-widget elementor-widget-text-editor\" data-id=\"c4d0cdd\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p style=\"text-align: center;\"><strong><em><span lang=\"HR\" style=\"color: #ffffff; font-size: 12pt; font-family: Calibri, sans-serif;\">BlackRock\u2019s revised in-kind redemption model presented to the SEC on Nov. 28. Source: SEC<\/span><\/em><\/strong><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-47787e0 e-flex e-con-boxed e-con\" data-id=\"47787e0\" data-element_type=\"container\" data-settings=\"{&quot;content_width&quot;:&quot;boxed&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-23bde8c elementor-widget elementor-widget-text-editor\" data-id=\"23bde8c\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>BlackRock has stated that its new model enhances defenses against market tampering, a key concern leading to the SEC&#8217;s repeated rejections of past Bitcoin ETF proposals.<\/p>\n<p>Furthermore, BlackRock asserts that this ETF framework will bolster safeguards for investors, reduce trading expenses, and foster greater uniformity within the Bitcoin ETF sphere.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-b9e0de3 e-flex e-con-boxed e-con\" data-id=\"b9e0de3\" data-element_type=\"container\" data-settings=\"{&quot;content_width&quot;:&quot;boxed&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>","protected":false},"excerpt":{"rendered":"<p>BlackRock has updated its spot Bitcoin ETF proposal, simplifying how Wall Street banks can engage by using cash to form new shares, not just crypto.<\/p>\n<p>The proposal was detailed to the U.S. SEC by BlackRock and NASDAQ members.<\/p>","protected":false},"author":1,"featured_media":3709,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18],"tags":[35,32,31,29],"class_list":["post-3703","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitocin","tag-crypto","tag-stoneblock","tag-web3"],"_links":{"self":[{"href":"https:\/\/stoneblock.hr\/hr\/wp-json\/wp\/v2\/posts\/3703","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stoneblock.hr\/hr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stoneblock.hr\/hr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stoneblock.hr\/hr\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/stoneblock.hr\/hr\/wp-json\/wp\/v2\/comments?post=3703"}],"version-history":[{"count":5,"href":"https:\/\/stoneblock.hr\/hr\/wp-json\/wp\/v2\/posts\/3703\/revisions"}],"predecessor-version":[{"id":3710,"href":"https:\/\/stoneblock.hr\/hr\/wp-json\/wp\/v2\/posts\/3703\/revisions\/3710"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/stoneblock.hr\/hr\/wp-json\/wp\/v2\/media\/3709"}],"wp:attachment":[{"href":"https:\/\/stoneblock.hr\/hr\/wp-json\/wp\/v2\/media?parent=3703"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stoneblock.hr\/hr\/wp-json\/wp\/v2\/categories?post=3703"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stoneblock.hr\/hr\/wp-json\/wp\/v2\/tags?post=3703"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}