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A US-China trade deal is expected to happen soon, and business leaders are expressing renewed confidence right now as critical negotiations approach next week. The US-China Business Council’s president has indicated that a trade deal between both nations is likely, and he actually believes it’s unlikely that Beijing and Washington will abandon their earlier commitments. This business group forecast comes at a time when trade war impact concerns have been weighing on markets along with investors. Also Read: Trump’s Economic Nationalism Escalates, Pressures India and BRICS US-China Meeting Sparks Optimism as Trade Forecasts Improve Source: Getty Images Right now, Treasury Secretary Scott Bessent has confirmed that China-US economic relations talks will start next week in Stockholm. At the time of writing, the Washington Beijing meeting is addressing an August 12 deadline when tariff pauses expire between the world’s two largest economies. Bessent stated: “I’...

BlackRock has made structural changes to its application to launch a spot Bitcoin ETF in the U.S. According to the updated filing, Wall Street banks can now create new shares in the fund based on fiat, not just cryptocurrencies. To do this, they need to obtain the status of an authorized participant (AP). Source: BlackRock ETF filing The changes open the way to ETFs for regulated U.S. banks that cannot hold cryptocurrency. They will be able to interact with the BlackRock Bitcoin fund as an AP. Fiat shares of the fund can be exchanged for bitcoins through an intermediary. In this case, the cryptocurrency will be stored with the ETF custodial provider. You might also like: BlackRock and Bitwise amended applications for spot Bitcoin ETF yet again Presumably, the application was updated after BlackRock representatives met with the Securities and Exchange Commission (SEC) led by Gary Gensler on Dec. 11. This is the third meeting in recent weeks, with BlackRock previous...

Crypto asset manager Grayscale recently unveiled an updated version of its spot Bitcoin exchange-traded fund (ETF) following discussions with the US Securities and Exchange Commission (SEC). According to Bloomberg researcher James Seyffart, the update d documentation contains a plan to change GBTC’s ticker to BTC. Update: New Grayscale S-3/Prospectus #Bitcoin ETF filing to convert $GBTC. Right off the bat the biggest update is the plan to change $GBTC's ticker to $BTC (which was expected). Skimming through the rest now. pic.twitter.com/W9uNdAHLMv — James Seyffart (@JSeyff) November 22, 2023 After carefully reviewing the revised documentation, Seyffart noted that it is unlikely to contain significant changes compared to the previous version. However, the current version has significant changes from the original submission, as he stated: “in this amendment, the shades of gray have changed a lot from the original.” He noted that the new documentation has reduced the claus...