比特币 ETF 如何破解审批流程,谁当第一负责人?

比特币 ETF 审批流程是怎样的?由谁负责?比特币 ETF(交易所交易基金)的审批流程由金融监管机构负责管理在美国,美国证券交易委员会(SEC)负责审批ETF的注册申请和变更申请申请人需要提交完整的申请文件,并通过SEC的审查来保证其合法性和透明性一旦申请获得SEC的批准,ETF将被上市交易,并由相关的基金管理公司负责管理管理公司负责ET总计、投资组合的建立和调整以及向投资者提供有关ETF的信息他们还需遵守SEC制定的相关规定,包括定期披露投资组合信息和风险警示在其他国家,比特币ETF的审批流程可能由不同的金融监管机构负责,但基本的审批原则和流程基本上是相同的申请人需要符合相关的法律法规,并通过监管机构的审查来确保ETF的安全性和可靠性管理公司也将负责管理和运作ETF,并定期向监管机构和投资者公开披露相关信息总而言之,比特币ETF的审批流程需要经过严格的监管和审查,以确保其合法、安全和透明的运行,从而保护投资者的权益各国监管机构都有责任来监督和管理比特币ETF的运作,以促进比特币及其衍生产品的健康发展

“Bitcoin Spot ETF: The Journey to Reality… and Comedy?”

by Sean Stein Smith

Finally! The highly anticipated Bitcoin spot ETF is slowly but surely becoming a reality. But have you ever wondered how this process actually works? Well, let me break it down for you, my fellow digital asset investors, in a way that will make you laugh and learn at the same time.

Picture this: a Bitcoin ETF soaring through the sky, overcoming hurdles and obstacles with its mighty wings of approval. But who is responsible for this captivating performance, you might ask? Enter BlackRock, the superhero of the financial world! When news broke that BlackRock had submitted a Bitcoin spot ETF application to the US Securities and Exchange Commission (SEC), the crypto market couldn’t help but cheer. It’s like having a seasoned knight fighting alongside us in the battle for mainstream adoption.

The excitement over the Bitcoin spot ETF application is off the charts! On October 16th, when rumors of BlackRock’s ETF approval spread like wildfire, Bitcoin briefly skyrocketed past $30,000. But alas, like a balloon filled with hot air, the price quickly deflated when the news turned out to be fake. It seems that the crypto market has shifted its attention to institutional players, with BlackRock’s near-perfect ETF success rate fueling optimism and joy.

But my fellow investors, you might be wondering: how does this ETF process actually work? Who are the puppet masters pulling the strings? And why is it causing such a stir? Strap in, because I’m about to take you on a thrilling ride through the world of ETFs!

So, how does one submit an ETF? Well, it’s like crafting a masterpiece. First, the potential ETF sponsor (a.k.a. the maestro) presents their plan to the SEC, outlining how they will create the ETF. Here’s where things have gone awry in the past for Bitcoin ETF hopefuls; the SEC has been known to reject these proposals time and time again. But fear not, my friends, for BlackRock’s recent application might have cracked the code. You see, the maestro and the authorized participants (usually institutional players) are likely part of the same entity. Assuming the application keeps moving forward, the authorized participants start acquiring the underlying assets, placing them in a trust. These assets will then be used to create the ETF’s creation units. Voila!

Now, I know this might sound like a convoluted process, but let me enlighten you: the US currently boasts nearly 3,000 ETFs with assets under management nearing $10 trillion. So, actively rejecting a Bitcoin spot ETF seems rather… unusual, wouldn’t you agree?

Let’s talk about the difference between a Bitcoin spot ETF and a trust product, like the famous Grayscale Bitcoin Trust. Picture it as a dance-off between two contenders, each with their unique moves. The trust product, with its limited flexibility, can’t redeem the underlying assets. This often results in a significant price difference between the trust and the actual asset (Bitcoin). On the other hand, the spot ETF operates like a nimble breakdancer, being an open-ended fund system that can issue new shares. This gives it the versatility to better track the ever-changing price of Bitcoin. Plus, spot ETFs offer better liquidity and tax treatment, making them more attractive to investors. Can you hear the crowd cheering?

Now, my friends, you might be wondering: who gives the seal of approval to these ETFs? Well, let me introduce you to the mighty SEC! Since its inception, the SEC has approved thousands of ETFs, which is why the absence of a Bitcoin spot ETF has left us scratching our heads. Despite their approval of ETFs with some rather peculiar underlying assets and business models, the SEC, under the leadership of Gary Gensler, remains staunchly opposed to approving a Bitcoin spot ETF. The pressure from the industry and lawmakers is mounting, though.

Ah, but why, oh why, don’t we have a Bitcoin spot ETF in the US market? That question has numerous answers, depending on who you ask. The SEC emphasizes that Bitcoin is a volatile asset and the crypto industry is plagued by fraud and abuse. They argue that investor protection measures and a mature market are necessary before ETFs can be offered. On the other hand, many crypto supporters see the absence of a spot ETF as evidence of the seemingly anti-crypto and anti-Bitcoin stance held by some policymakers in the US. It’s no surprise that as the SEC cracks down on companies operating in this space, they seem reluctant to let new crypto or Bitcoin products enter the market.

With the potential for a Bitcoin spot ETF becoming more tantalizing by the day, it’s high time investors and entrepreneurs understand how the ETF process works, who’s involved in this grand performance, and why it’s taking so long. Buckle up, my fellow crypto enthusiasts, because the show is just getting started!


Hey there, readers! Have you ever wondered what it takes to bring a Bitcoin spot ETF to life? Well, wonder no more! In this exhilarating article, we’ve explored the inner workings of ETFs and the hurdles they face. So, tell us, are you excited about the potential for a Bitcoin spot ETF? Let us know in the comments below! And remember, in the fast-paced world of crypto, laughter is always the best investment strategy. Stay tuned for more hilarious and informative articles from your favorite blockchain humorist!