Former SEC attorney, John Reed Stark, believes that the chances of the SEC approving a Bitcoin spot ETF are slim due to the lack of regulatory oversight and transparency in the crypto market, citing a CNBC report that shows the industry is rigged and susceptible to manipulation.
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 federal court has ruled that the U.S. Securities and Exchange Commission (SEC) must review its rejection of Grayscale Investments' attempt to convert the Grayscale Bitcoin Trust into an ETF, potentially opening the door for the U.S.'s first spot bitcoin ETF.
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.
Bitcoin led the cryptocurrency market higher following Grayscale's victory in the lawsuit against the SEC, but analysts caution that the victory does not guarantee the approval of a spot Bitcoin ETF.
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.
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 U.S. Securities and Exchange Commission's delay in approving the first spot bitcoin exchange-traded fund (ETF) has not diminished the optimism of many in the crypto industry, with approval still considered inevitable according to former SEC chair Jay Clayton, and pending applications from Blackrock, Fidelity, and others increasing the probability of approval, which would be a "watershed moment" for bitcoin.
Former SEC Chairman Jay Clayton believes that the approval of a spot Bitcoin ETF by the U.S. is inevitable, as retail investors' restrictions on trading Bitcoin-based products cannot continue indefinitely.
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.
U.S. SEC Chair Gary Gensler criticized the crypto industry during a Senate hearing but did not provide any information on the regulator's stance on Bitcoin spot ETF applications, which are currently under review.
Grayscale's spot bitcoin ETF review is likely to be approved, following the introduction of Europe's first spot Bitcoin exchange-traded fund, setting a precedent for the Securities and Exchange Commission to allow the conversion of the Grayscale Bitcoin Trust (GBTC) into an exchange-traded fund.
A bipartisan group of lawmakers is urging the U.S. Securities and Exchange Commission (SEC) to approve bitcoin exchange traded funds (ETFs), arguing that the SEC should follow court rulings and cease efforts to block regulatory approval.
The approval of a spot bitcoin ETF by the SEC could lead to the approval of a spot ether ETF as well, presenting a potentially greater opportunity for Grayscale's Ethereum Trust due to its larger discount and Ethereum's better upside as a leading platform for Web3 development.
SEC Chairman Gary Gensler faced criticism during a House Financial Services Committee hearing regarding the SEC's policies and actions, including the issuance of Staff Accounting Bulletin (SAB) 121 on accounting and disclosure of crypto assets, without consulting prudential regulators or the Financial Accounting Standards Board (FASB). The bulletin, which requires disclosure of risks associated with digital asset custody, has faced opposition and accusations of being "regulation disguised as staff guidance." Issues such as the approval of spot Bitcoin exchange-traded funds and the SEC's stance on Grayscale's Bitcoin ETF application were also discussed.
SEC Chair Gary Gensler criticized the practices of crypto companies and their handling of customer assets in his congressional testimony, while remaining silent on the SEC's plans for spot bitcoin ETFs after a recent legal setback. Gensler also noted that the agency has not yet decided how to proceed with a judge's ruling regarding bitcoin ETF applications. Additionally, Gensler mentioned that the SEC is preparing for a potential government shutdown, which would significantly slow down reviews and approvals of filings.
The US SEC is considering applications for spot crypto ETFs from Franklin Templeton and Hashdex, but there are delays in approving VanEck's and ARK's ether ETF applications.
The United States Securities and Exchange Commission (SEC) has postponed its decision on approving spot Ether exchange-traded fund (ETF) applications from ARK 21Shares and VanEck, extending the deadline to December 25 and December 26 respectively, while the New York Stock Exchange Arca and Cboe BZX Exchange also filed proposed rule changes for various crypto ETFs on September 27.
Spot Bitcoin ETFs are poised to be approved by the U.S. Securities and Exchange Commission, which would streamline institutional adoption of digital assets in the country and bring in fresh capital, as traditional financial institutions like BlackRock, Fidelity, and VanEck apply for spot Bitcoin ETF listings.
The House Financial Services Committee's hearing on the oversight of the Securities and Exchange Commission (SEC) revealed ongoing debates over the regulatory status of Bitcoin and Ether, with SEC Chair Gary Gensler providing ambiguous answers and raising questions about the need for congressional action for establishing regulatory clarity in the digital asset market.
The first day of trading for futures-based ether exchange-traded funds (ETFs) was lackluster, with low trading volume compared to previous bitcoin ETF launches. Additionally, Grayscale Investments has filed for approval to convert its Ethereum trust into a spot Ethereum ETF, aiming to offer investors regulated access to crypto. Meanwhile, former FTX exchange boss Sam Bankman-Fried is attempting to prevent certain witnesses from testifying in his fraud trial.
Former BlackRock managing director Steven Schoenfield predicts that the U.S. Securities and Exchange Commission (SEC) will approve a Bitcoin spot ETF within three to six months, and believes that a potential approval could lead to a significant inflow of $150 to $200 billion into Bitcoin investment products over three years.
US regulators are likely to approve all spot Bitcoin exchange-traded fund (ETF) applications at once, according to a former executive at BlackRock, due to the influential role of the investment titan in the industry.
The SEC's engagement with spot bitcoin ETF applicants and positive developments from BlackRock indicate a high chance of approval for bitcoin spot ETFs by the end of 2023 or the first quarter of 2024, potentially leading to a wave of institutional investment and redefining investment dynamics.
Approval of spot-based Bitcoin exchange-traded funds (ETFs) is partially priced in, leading to Bitcoin outperforming other cryptocurrencies, according to Coinbase Institutional, but once the ETFs are approved, Bitcoin's edge over the market may diminish.
ARK Invest CEO Cathie Wood believes that the Chair of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, is blocking a spot market Bitcoin exchange-traded fund (ETF) despite the agency's knowledge and understanding of Bitcoin. Wood suggests that multiple spot Bitcoin ETFs may be approved in the future.
The US SEC's decision not to appeal against a ruling rejecting a spot BTC ETF indicates evolving regulatory dynamics in the crypto market and could potentially lead to the approval of more spot bitcoin ETFs in the US, narrowing the gap with Europe and Canada.
The U.S. Securities and Exchange Commission (SEC) has run out of time to appeal a court ruling that criticized its biased decision in approving a futures-based ETF while denying a similar spot market-based ETF, making the likelihood of a spot market bitcoin ETF listing by the end of the year almost certain, which would have significant implications for the crypto industry and potentially raise bitcoin's price.
The intense interest in spot market bitcoin ETFs stems from the desire to bridge the gap between traditional finance and the bitcoin asset class, allowing access to billions of dollars of sidelined capital, despite the SEC's historical rejection of spot-based BTC ETF applications due to concerns of market manipulation and inadequate market surveillance systems.
Increased optimism about the potential approval of multiple spot bitcoin exchange-traded-funds (ETFs) has led to the recent gains of Bitcoin (BTC), according to JPMorgan.
Coinbase's chief legal officer is optimistic that bitcoin spot exchange-traded fund (ETF) applications will be approved by the U.S. Securities and Exchange Commission, potentially boosting the price of bitcoin and benefiting crypto-linked stocks.
Bitcoin experienced a brief rally after news of the SEC approving a Bitcoin ETF turned out to be fake, revealing that price gains expected from an ETF approval were not already accounted for, while social media speculation continues regarding when the SEC will finally approve a Bitcoin ETF and New York's attorney general's lawsuit against Genesis raises questions about its subsidiary, Grayscale's chances of landing a Bitcoin ETF.
If the U.S. Securities and Exchange Commission approves a spot Bitcoin exchange-traded fund (ETF), a top analyst predicts that Bitcoin could reach levels not seen since November 2021, potentially appreciating by over 100%.
The potential approval of a bitcoin spot ETF has garnered significant attention, and this article explains the process of how an ETF is created, who approves it, and why the lack of a bitcoin spot ETF has been a point of controversy.
Crypto ETF expert Stuart Barton predicts that all applications for spot bitcoin exchange-traded funds (ETFs) to the SEC may be approved simultaneously, following the SEC's approval of multiple ether ETFs at once, setting a precedent.
BlackRock's proposed iShares spot Bitcoin exchange-traded fund (ETF) has been listed on the Depository Trust & Clearing Corporation (DTCC), indicating potential approval from the SEC and potentially opening the door for other spot crypto ETF filings to be reviewed by the SEC.
The U.S. Securities and Exchange Commission (SEC) has multiple filings for potential bitcoin exchange-traded products under consideration, including an application from Cathie Wood's ARK Invest; approval of a spot bitcoin exchange-traded fund (ETF) could drive increased demand for the cryptocurrency.
