BlackRock, the world’s leading asset manager, is reportedly planning to reduce its global workforce by approximately 3%, affecting around 600 employees. This move is said to be part of BlackRock’s regular internal adjustments, with decisions influenced by performance evaluations over the past year.
Simultaneously, the company is awaiting the Securities and Exchange Commission’s (SEC) decision on its Bitcoin Exchange-Traded Fund (ETF) application. The announcement is expected by January 15, with the company hopeful for approval on January 10, coinciding with the SEC’s deadline for the ARK 21 Shares spot Bitcoin ETF.
The potential approval of spot Bitcoin ETFs has stirred considerable interest in the cryptocurrency community. Unlike futures Bitcoin ETFs, spot Bitcoin ETFs directly invest in bitcoins, providing ordinary investors with exposure to Bitcoin’s price movements in their regular brokerage accounts.
BlackRock’s application for a spot Bitcoin ETF, along with a 19b-4 amendment, is among several amendment forms submitted to the SEC by various asset managers. Other companies that have submitted these amendments include Valkyrie, Grayscale, Bitwise, Hashdex, ARK 21Shares, Invesco Galaxy, Fidelity, Franklin Templeton, VanEck, and WisdomTree. The SEC commissioners are expected to vote on these exchange-rule filings in the coming week.
Investors and industry observers are keenly awaiting the SEC’s ruling. A positive decision would represent a significant milestone in the cryptocurrency space. Despite previous rejections over the past decade, thirteen companies have now filed for a spot Bitcoin ETF.
As the SEC decision day nears, the cryptocurrency market remains vigilant, anticipating the potential approval of spot Bitcoin ETFs and the subsequent impact on market dynamics.
In other news, Gemini has criticized DCG’s Genesis Bankruptcy Plan, calling it ‘Misleading’. VeChain has partnered with China to develop a government traceability platform. Amid a volatile market, Crypto Trading Platform Bitpanda has laid off 250 employees. Finally, a review of ProfitFarmers is available for those interested in its legitimacy.
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Global |
| Countries | 🇨🇳 |
| Sentiment | neutral |
| Relevance Score | 1 |
| People | None |
| Companies | Invesco Galaxy, WisdomTree, DCG, Valkyrie, Gemini, ProfitFarmers, BlackRock, Bitwise, VanEck, Hashdex, Grayscale, Genesis Bankruptcy Plan, VeChain, Franklin Templeton, Bitpanda, Fidelity, ARK 21 Shares, SEC |
| Currencies | Bitcoin |
| Securities | Invesco Galaxy, WisdomTree, Valkyrie, BlackRock, Bitwise, VanEck, Hashdex, Grayscale, Franklin Templeton, Fidelity, ARK 21 Shares |
