Blackrock, SEC Differ Over Crypto Futures
The conflict between traditional regulatory frameworks and the burgeoning crypto market has escalated, with BlackRock, the world’s largest asset manager, and the U.S. Securities and Exchange Commission (SEC) at the center.
BlackRock claims that the current regulatory framework, which places a heavier burden on crypto futures, may hinder the broader adoption of these financial instruments. BlackRock argues that the SEC has no reasonable reason to treat spot-crypto and crypto-futures ETF applications differentially.
The company registered the iShares Ethereum Trust as a Delaware statutory trust on November 9, following Nasdaq’s submission of the 19b-4 application form to the SEC. BlackRock also registered a bitcoin trust earlier this year and submitted an application to the SEC for the introduction of a spot bitcoin ETF.
BlackRock raised concerns about the SEC’s handling of spot crypto ETFs, claiming that the agency consistently rejects these applications due to erroneous regulatory differentiation between spot and futures ETFs.
(With inputs from Shikha Singh)
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