#ContentStar# BTCETF

News of the market outbreak: The BTC ETF issued by BlackRock has received a CUSIP number and has begun preparing seed funds to buy BTC

Before the news can be verified, the market can't wait, and if it is true, it is only pre-approval, not formal approval, and I guess the SEC will only choose to officially announce it at the end of the ETF issuance process!

The listing process for ETFs is as follows, you can refer to:
1) Registration and approval:
Before deciding to issue an ETF, the issuer needs to file relevant documents with the U.S. Securities and Exchange Commission (SEC), including Form S-1 (or other relevant form). The SEC will review these documents to ensure that they comply with rules and regulations. Once approved by the SEC, the issuer can proceed to the next step.

2) CUSIP number assignment:
Upon SEC approval, an ETF can obtain a CUSIP number to uniquely identify the ETF.

3) Seed Capital Preparation:
Issuers need to prepare sufficient seed capital to ensure that the ETF has at least 100,000 outstanding shares at the time of issuance. This is an important step to ensure that ETFs have sufficient liquidity and market tradability.

4) Underwriter Bidding:
Issuers often work with underwriters to help advertise and sell ETFs. The underwriter will assume the role of market manufacturing and liquidity provision.

5) Issuance and listing:
Once all the aforementioned steps have been completed, the ETF can be officially issued and listed on the stock exchange. At this point, investors can participate by purchasing ETF shares.

Before the official approval and official announcement of the ETF, the market burst into this way, is it too early to consume the epic positive expectations of the ETF?
Then reflect on it, if it is officially issued and listed, will it be a chicken feather? 😂

At the same time, there is also new news, the SEC is re-examining the bid for the Grayscale Spot BTC ETF, so the positive news is sent in bulk!