United

Bitcoin

Impact

Pando

Pando Asset, a Swiss asset manager, has entered the race for a <a href="https://optimisus.com/news/crypto-news/jp-morgan-believes-the-sec-will-be-forced-to-approve-bitcoin-etfs/">Bitcoin exchange-traded fund (ETF)</a> in the United States, indicating the continued surge in interest in such offerings.   
On November 29, the company submitted its bid, aiming to establish a fund that mirrors Bitcoin price movements, with Coinbase managing the Bitcoin holdings.   
Pando Asset is now the 13th contender seeking approval from the US Securities and Exchange Commission (SEC) for a Bitcoin ETF, joining major players such as BlackRock, ARK Invest, and Grayscale.   
On the same day, investment firm BlackRock was in discussions with the SEC about its own ETF proposal. The discussions focused on ensuring the safe handling of Bitcoin and proposing changes to align with the SEC's regulatory framework.   
Pando's late entry into the race surprised and confused Bloomberg ETF analyst Eric Balchunas, who previously predicted the potential approval of spot <a href="https://optimisus.com/market/market-news/sec-initiates-review-of-recent-bitcoin-etf-applications-what-it-means-for-crypto-investors/">Bitcoin ETFs</a> by January 10.   
His concern is about the consequences if Pando's ETF is approved alongside others on January 10, the SEC's deadline for deciding on ARK Invest's bid.   
Balchunas and colleague analyst James Seyffart believe that this date could see the approval of multiple spot Bitcoin ETFs.   
Balchunas emphasized the importance of adjusting <a href="https://optimisus.com/news/crypto-news/blackrock-ceo-larry-fink-says-bitcoin-is-digital-gold-calls-for-regulators-to-consider-bitcoin-etf/">BlackRock's ETF</a> proposal to meet regulatory requirements when discussing the firm's meeting with the SEC.   
BlackRock intends to comply with the SEC's Bitcoin guidelines by investigating the use of cash as an alternative to direct dealings with the cryptocurrency.   
As the competition for a Bitcoin ETF in the United States heats up, regulatory bodies such as the SEC's decisions will be critical in shaping the future landscape of crypto investment products.   
Investors and industry experts will be closely watching developments to understand their potential impact on the broader crypto market. 
The post <a href="https://optimisus.com/news/crypto-news/swiss-firm-pando-asset-files-for-bitcoin-etf-analyst-worry-about-the-impact/">Swiss firm Pando Asset Files for Bitcoin ETF, Analyst Worry about the Impact</a> appeared first on <a href="https://optimisus.com">Optimisus</a>.

Swiss firm Pando Asset Files for Bitcoin ETF, Analyst Worry about the Impact

Optimisus

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