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OTCbid - SEC holds calls with spot bitcoin ETF hopefuls as possible approval nears

 

 

 

 

 

 

 

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" SEC says it will only accept ETFs that allow issuers to buy the products using cash, not bitcoin.

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The Securities and Exchange Commission is wasting no time preparing the financial industry for possibly the biggest regulatory event in the history of the $1.6 trillion crypto market: The potential approval of a "spot" bitcoin ETF in the new year.

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SEC staffers held separate telephone conference calls with spot bitcoin ETF hopefuls on Thursday afternoon, FOX Business has learned. The calls involved some minutiae on the application process, but also delivered a definitive message on how the ETFs need to be structured. The agency staffers said the SEC will only consider applications that structure an ETF that allows issuers to only buy the product using cash instead of so-called "in kind" purchases using bitcoin. Similarly, redemptions of the ETF must be provided only in cash.".- Read More

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Source: FOXbusiness

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5000+ BTC SELLERS AVAILABLE

 

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NEW:Over 5K BTC with R&E @ -6% Gross, -3% Net, USDT/BTC Swap - Look For Buyer 

( Sellers: PALPH...SAPIP-GAIL )

Post: 23.12.23

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• Seller is selling over 5K BTC with R&E @ -6% Gross, -3% Net.

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• Buyer = 3%

• Sellerside =1.5% 

• Buyerside = 1.5%​

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• Introduction of Buyer’s Interest to Purchase :

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• Buyer needs to Submit a (LOI) Letter of Interest with Quantity of Purchasing and Profile and (USDT WALLET) as Proof of Capability of Purchase for at least 5,000 BTC equivalent and no Sanction Countries.

• These Documents and info shall be introduced and delivered to RO.

• Seller representative will reply with a formal offer and wallet confirmation as above or other for forensic check. 

• Buyer and Seller will engage by Zoom to mutually be agreed about the business transaction. 

• Seller will introduce his CIS. 

• Seller will introduce wallets with transaction around 150 max

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• PROCEDURE :

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• Buyer and seller can start with one BTC handshake and or mutually agreed at the moment of the buyer and seller zoom call how to setup the purchase transaction.

• 1. The Buyer sends the USDT payment wallet address to be approved by the Seller (Forensic and Proof of Capability).

• 2. The Seller sends the BTC wallet address to be approved by the Buyer. (Forensic and Proof of Capability).

• 3. The Buyer sends a small amount of USDT from the approved USDT transactional wallet to the Seller.

• 4. The Seller will send the amount worth of USDT in Bitcoin from the approved BTC transactional wallet. This is the Handshake

• 5. Both Buyer and Seller sign the SPA and IMFPA agreement

• 6. The Seller sends the Bitcoins to the Buyer BTC’s wallet 7. After the reception of the BTC, the Buyer six blockchain confirmations within 90 minutes and deliver/send the equivalent amount in USDT to the Seller USDT’s wallet. 8. Once the Seller confirms the USDT payment, the Seller sends the next tranche of BTC.

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• Quick Summary:

• 1) The Buyer initiates the handshake

• 2) The Seller sends the Satoshi

• 3) The Seller sends the BTC tranches

• 4) The Buyer sends the USDT

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BUYER MANDATE ONLY

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Interested parties should contact :

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• OTCbid@gmail.com

• DM Raymond Chai (on Linkedin)

• OTCbid.com