This morning, in a scene reminiscent of a Noël Coward play (less champagne, more lapel pins), the SEC’s dashing Crypto Task Force summoned the good people of BlackRock for a clandestine tête-à-tête. On the menu? Staking, tokenization, and ETFs—the modern world’s currency for “terribly complicated financial wizardry.” 🧐🍸
BlackRock, never a crowd to do things by halves, unleashed a formidable nine-person posse—think, the Magnificent Nine of Wall Street. Directors and Heads of Digital Assets and Regulatory Affairs graced the room. Chins were stroked. Monocles may or may not have been polished. Oh, to be a fly on that boardroom wall!
BlackRock Dances with the SEC
Once upon a Trumpian era, the SEC’s Crypto Task Force emerged from its bureaucratic chrysalis, quickly finding “chatting with industry” far more interesting than actually regulating. BlackRock? Ha! Regular guests. Today’s episode merely the latest in a sparkling series of regulatory soirées.
Now, according to BlackRock’s careful preamble, today’s items included:
“We request a meeting… to discuss the following topics: An Overview of BlackRock’s Digital Assets Suite, perspectives on… considerations for facilitating ETPs with staking capabilities, advancing tokenization of securities, specific factors that could be applied for approving crypto ETPs, [and] standards…for options on crypto ETPs.”
Which, if you’ve ever read one of these agendas, translates loosely as: “Please, SEC, let us do all the fun stuff. Especially with our own toys.” The world’s largest Bitcoin ETF tends to make a scene at these gatherings. One can only imagine IBIT’s name echoing gently through the room.
To the shock of precisely no one, BlackRock pressed for the SEC’s blessing to sprinkle a little staking magic on ETFs… again. The answer, of course, so far remains “maybe, darling, but not tonight.”
BlackRock met w/ SEC Crypto Task Force today…
Discussed staking in ETFs, tokenization, crypto ETF approval standards, & more.
World’s largest asset manager fully engaged on crypto.
— Nate Geraci (@NateGeraci) May 9, 2025
The dialogue also tiptoed delicately around BlackRock’s BUIDL fund. (Yes, it’s called BUIDL—because “build” is simply too mainstream.) Tokenization of Real World Assets, a phrase that makes accountants and poets alike swoon, surfaced frequently on the agenda.
Beyond that, the entire affair is shrouded in the kind of mystery suitable for a Noël Coward second act—curtains drawn, whispers by the window. But, in a burst of unprecedented transparency, BlackRock at least published its official cast list—all players from Digital Assets and Regulatory Affairs, led by their Heads and Directors. No supporting actors here, just stars.
Will this gathering actually sway SEC policy? Anyone’s guess. Recent heat on the Commission for “coziness” with crypto has left them dancing cheek-to-cheek but perhaps with one eye on the exit. Still, rest assured: the closed-door dinner theatre continues. The show, as always on Wall Street, must go on. 🥂
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2025-05-10 01:19