Several prominent U.S. banking groups are actively pursuing entry into the Bitcoin Exchange-Traded Funds (ETFs) landscape, prompting a collective plea for a rule change to facilitate their participation in the bitcoin spot ETFs space.

On February 14, a coalition of influential trade groups, including the Bank Policy Institute, the American Bankers Association, the Securities Industry and Financial Markets Association, and the Financial Services Forum, submitted a letter to the Securities and Exchange Commission (SEC) advocating for specific modifications.

SourceAccounting Guidance Challenges

At the heart of the matter lies the SEC’s current accounting guidance, which directs public…

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