Crypto traders are eagerly awaiting a ruling on the Grayscale Trust vs SEC case, which may require the SEC to re-review the application for a spot Bitcoin ETF, potentially leading to a 240-day delay.
The US Court of Appeals has once again postponed the decision on Grayscale's Bitcoin Trust's transformation into a spot Bitcoin ETF, leaving the status of the ETF and other related matters in uncertainty.
Brazilian crypto asset management firm, Hashdex, has submitted an application to the SEC for approval to operate a Bitcoin exchange-traded fund (ETF) using spot Bitcoin acquired within the regulated CME market, in contrast to other firms' strategies of surveillance-sharing agreements with Coinbase, which it claims may not address the SEC's concerns.
A series of Bitcoin Exchange Traded Fund (ETF) applications have been submitted to the SEC, potentially offering investors a more accessible way to invest in cryptocurrency and bridging the gap between traditional finance and digital assets.
The U.S. Court of Appeals for the DC Circuit ruled that the SEC was unreasonable in denying Grayscale's permission to launch a Bitcoin ETF, potentially opening the door to a significant influx of capital into the crypto markets.
Bitcoin and other cryptocurrencies experience a surge in value as Grayscale Investments wins a court decision that increases the likelihood of a spot Bitcoin exchange-traded fund being approved.
Bitcoin surged over 5% to surpass $27,000 after a federal appeals court ruled that the U.S. Securities and Exchange Commission must review its rejection of Grayscale Investments' attempt to convert its Grayscale Bitcoin Trust into an ETF, potentially opening the door for a spot bitcoin ETF in the U.S.
The U.S. Court of Appeals has criticized the Securities and Exchange Commission (SEC) for acting "capriciously" and "arbitrarily" in denying a spot market bitcoin exchange-traded fund (ETF), potentially leading to a review of the previously rejected application and challenging the SEC's authority over cryptocurrencies.
The SEC is facing deadlines to decide on seven new Bitcoin spot ETF applications, with analysts stating that the best-case scenario is approval, but the SEC may also exercise its right to appeal.
The average trade size of Bitcoin on most exchanges increased significantly following a court ruling that the SEC must review its rejection of Grayscale Investments' attempt to convert the Grayscale Bitcoin Trust into an ETF, suggesting increased activity by large traders. Additionally, Bitcoin's price climbed over 7% as market confidence in a bitcoin spot ETF approval grew.
A federal appeals court ruling has opened the door for the launch of a spot Bitcoin exchange-traded fund (ETF), with a number of high-profile asset managers potentially being approved to enter the market, leading to increased competition and potential fee reduction for fund managers.
Grayscale's recent victory over the SEC could potentially render Alameda Research's lawsuit against the company meaningless, as it opens the possibility for Grayscale to convert into the first U.S. spot bitcoin ETF, allowing redemptions and making the lawsuit unnecessary.
Former SEC chair Jay Clayton believes that the approval of spot Bitcoin exchange-traded funds (ETFs) is inevitable, as major financial institutions backing BTC investment vehicles represent a shift in how retail investors can access crypto. The SEC has 45 days to approve, deny, or delay ETF applications from 7 major firms.
The Securities and Exchange Commission (SEC) may have suffered setbacks in its regulation-by-enforcement approach to the cryptocurrency industry, with the latest ruling in favor of Grayscale Investments potentially paving the way for the emergence of a bitcoin spot exchange-traded fund (ETF); however, the SEC could appeal the decision or find new ways to deny similar applications, and the lack of a regulated exchange for the bitcoin spot market remains a challenge. Despite court challenges, SEC Chair Gary Gensler is expected to continue pursuing his regulation tactics, while Congress and a potential Republican president in 2024 may play a role in shaping the regulatory environment for digital assets.
The SEC's denial of Grayscale's spot Bitcoin ETF application has been reviewed by a judge due to the SEC's failure to provide a coherent explanation, while the SEC also delayed verdicts on several Bitcoin spot market ETF applications, including BlackRock's, causing prices to rally; in other news, Circle's USDC stablecoin has experienced a significant decrease in market cap, SEC Commissioner Hester Peirce criticized the SEC's attempt to bring crypto exchanges under its jurisdiction, a lawsuit against Uniswap was dismissed by a New York judge, StarkWare zeroed all user balances on old wallets, Vivek Ramaswamy celebrated Grayscale's win over the SEC, the SEC delayed its verdict on multiple ETF applications including BlackRock's, and Chinese courts considered cryptocurrencies legal property protected by law.
Approval of a Bitcoin exchange-traded fund (ETF) in the United States could have a severe impact on major cryptocurrency exchanges, with ETFs offering advantages such as lower fees and the handling of digital assets and tax efficiency for consumers, according to Bloomberg analyst Eric Balchunas.
The recent court ruling regarding Grayscale Investments has brought the U.S. a step closer to having its first bitcoin exchange traded fund, leading to excitement and speculation in the cryptocurrency industry.
Grayscale Investments is urging the Securities and Exchange Commission (SEC) to approve the conversion of Grayscale Bitcoin Trust into an exchange-traded fund (ETF).
Grayscale has informed the SEC that there are no legal reasons left to block the conversion of its Bitcoin fund to a spot exchange-traded fund (ETF), following a court ruling against the regulator's denial of the conversion application.
The market is underestimating the potential impact and value of Spot Bitcoin ETFs, with analysts arguing that approval would lead to significant financial inflows and buying pressure, and that it is a good time to enter the market and start building a crypto portfolio, despite regulatory challenges. Ethereum could also benefit from a futures-based ETF listing, but there is caution about the SEC potentially classifying ETH as a security. Overall, the global crypto adoption is dependent on market maturity, regulatory intervention, and consistent long-term adoption.
Grayscale Advisors has filed for a new Ethereum futures exchange-traded fund (ETF) with the SEC, proposing to list and trade shares of the Grayscale Ethereum Futures Trust (ETH) ETF under the NYSE Arca Rule 8.200-E.
The Federal Reserve's decision to maintain interest rates and raise its long-term forecast for the Federal Funds Rate surprised many market participants, causing a slight pullback in the stock and cryptocurrency markets while highlighting the need for investors to focus on the actual health and viability of companies and the utility of the crypto ecosystem. Additionally, the article speculates on the impact of the U.S. Securities and Exchange Commission's ruling on Bitcoin spot ETF applications and the potential for cryptocurrency to become a mainstream alternative investment.
