According to Giang Bui, Head of U.S. Equities & ETPs at Nasdaq, the early dismissal of BlackRock's proposed spot Bitcoin exchange-traded fund (ETF) should not hinder its eventual success. The rejection primarily stems from regulatory procedural issues rather than the viability of the product itself. Nasdaq, along with other exchanges, has submitted updated filings for various ETF applications, including Coinbase as a surveillance-sharing agreement partner.

The Securities and Exchange Commission (SEC) has delayed its decision on most spot Bitcoin ETF applications, with a final decision expected in October. The industry remains optimistic about the prospects of these ETFs despite initial setbacks.