BlackRock met with the US Securities and Exchange Commission’s (SEC) Crypto Task Force on 12 May 2025 to discuss the overview of the BlackRock Digital Assets Product Suite. Representatives of the world’s largest asset manager requested a meeting with the SEC Crypto Task Force to discuss perspectives on the treatment of staking, including considerations for facilitating ETPs with staking capabilities, and to discuss considerations for advancing the tokenization of securities under the federal securities regulatory framework.
BlackRock has already launched spot Bitcoin and Ethereum ETFs, which have reported significant inflows. Recently, Strategy Chairman Michael Saylor said that “BlackRock’s iShares Bitcoin Trust (IBIT) will be the biggest ETF in the world in ten years.”
Meanwhile, the key takeaway from the Crypto Task roundtable is that the SEC may revise rules to allow broker-dealers on alternative trading systems (ATS) to trade non-security cryptocurrencies like Bitcoin and Ether.
BREAKING: BLACKROCK JOINS SEC ROUNDTABLE — IS XRP ON THEIR RADAR NEXT?
May 12th Just Got Serious
BlackRock — the $10 trillion titan — is confirmed to attend the SEC Crypto Task Force roundtable. This isn’t just another meeting. It’s a signal. And the ripples could reach pic.twitter.com/tgBYszvzcm
— @judyshel (@JudyShelton_Tv) May 12, 2025
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“A new day at the SEC,” Said Chair Paul Atkins
SEC Chair Paul Atkins says his focus is to “develop a rational regulatory framework for crypto.”
This is something the space has been crying out for, and I have to commend the current US administration for making genuine efforts toward it. pic.twitter.com/deaghPQUdU
— Alexis Sirkia (@AlexisYellow) May 12, 2025
During the SEC Crypto Task Force Roundtable US President Donald Trump appointed Paul Atkins said that his key priority is to develop a rational regulatory framework for crypto asset markets that establishes clear rules of the road for the issuance, custody, and trading of crypto assets.
“It is a new day at the SEC,” he said. “Policymaking will no longer result from ad hoc enforcement actions. Instead, the Commission will utilize its existing rulemaking, interpretive, and exemptive authorities to set fit-for-purpose standards for market participants.”
Talking about tokenization, SEC Commissioner Hester M Peirce said, “Tokenization cannot reach its full potential without legal clarity.”
In line with Atkins’ focus on providing clarity when it comes to crypto regulation, Peirce insisted that the SEC is working on providing legal clarity. “Absent a compelling reason grounded in fact and law, the Commission should treat tokenized securities the same as traditionally issued securities,” said Peirce.
“Stablecoins, the first application of tokenization to achieve scale, demonstrate the efficiency and accessibility improvements that may arise from the use of crypto networks,” insisted Peirce. “Tokenization may provide similar benefits to the securities markets, such as increased operational efficiency, transactional transparency, liquidity, and accessibility; faster settlement; and greater investor opportunity.”
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Key Takeaways
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The approval of spot Bitcoin and Ethereum ETFs last year marked a significant shift, opening the door to more mainstream and regulated crypto investment vehicles.
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Staking presents unique regulatory challenges to the SEC. But in the context of ETFs, staking could allow fund managers to generate additional yield for investors by participating in network validation.
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