Tag: Approve

SEC could approve spot Bitcoin ETFs as early as 2023 — Bloomberg analysts

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Eric Balchunas and James Seyffart, exchange-traded fund analysts for Bloomberg, said that a proposed rule change with the United States Securities and Exchange Commission could be the catalyst for the regulatory body approving a spot Bitcoin ETF in mid-2023. In a Thursday tweet, Balchunas said crypto platforms could fall under the SEC’s regulatory framework if the commission were to approve an amendment to change the definition of “exchange” proposed in January. The rule change would amend the Exchange Act to include platforms “that make available for trading any type of…

Grayscale Investments Asks Investors to Help Convince SEC to Approve Bitcoin Spot ETF – Regulation Bitcoin News

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Grayscale Investments, the world’s largest digital asset manager, has launched a campaign aimed at convincing the U.S. Securities and Exchange Commission (SEC) to approve its bitcoin spot exchange-traded fund (ETF) application. Grayscale seeks to convert its $25.7 billion bitcoin trust (GBTC) to a bitcoin spot ETF. Asset Manager Campaigns to Get Bitcoin Spot ETF Approved Grayscale Investments announced Tuesday the launch of a campaign “to educate and encourage American investors to submit comments” on its application with the SEC to convert Grayscale Bitcoin Trust (OTCQX: GBTC) to a spot bitcoin…

Terra (LUNA) Holders Approve New Sports Sponsorship Deal

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It’s not often that we see a DAO vote on a multi-year, $40M protocol spend on a sports sponsorship. Terra holders have been voting on just that this week, however, in what’s seemingly a first-of-its-kind event. Terraform Labs founder Do Kwon presented a new proposal to the Terra community this week, allowing LUNA holders to vote on a new five-year, $38.5M sponsorship with an unnamed team across one of the ‘big four’ sports leagues in the U.S. (MLB, NBA, NFL, NHL). It is seemingly the first time in sports sponsorship…

Rari Capital, Fei Protocol Token Holders Approve Multibillion-Dollar DeFi Merger

After less than a month of deliberation and voting, two decentralized autonomous organizations (DAOs) have consummated one of the highest-profile mergers in DeFi history. On Tuesday at Ethereum block height 13850929, a vote to merge Rari Capital and Fei Protocol was approved by members of both DAOs. The measure passed by a 93% to 1% margin among Rari’s RGT holders and 90% to 0% rate among those with Fei’s TRIBE. Going forward, the projects will merge via a token swap and be united under the TRIBE token. A total of…

Grayscale tells SEC ‘no basis’ to approve Bitcoin futures ETFs and not spot ETFs

Grayscale Investments has fired back a the U.S. Securities and Exchange Commission (SEC) over the recent rejection of VanEck’s spot Bitcoin ETF application. The operator of the Grayscale Bitcoin Trust (GBTC) issued a letter to Secretary of the SEC, Vanessa Countryman, on Nov. 29 to argue the SEC is wrong to reject spot Bitcoin ETFs since it has now approved three Bitcoin futures ETFs, one each from VanEck, Valkyrie, and ProShares. Grayscale argues that the SEC has “no basis for the position that investing in the derivatives market for an…

Thai lawmakers urged to approve tourism crypto to entice digital nomads

A push in Thailand to boost gross domestic product (GPD) by targeting crypto digital nomads is coming closer to fruition according to local media. The Tourism Authority of Thailand (TAT) has been looking into launching its own utility token called TAT Coin since September as part of a planned “cryptourism” campaign. The initiative aims to attract crypto wealthy digital nomads and the TAT has been in discussions with the Stock Exchange of Thailand regarding TAT Coin’s issuance. According to a Nov. 24 report from the Bangkok Post, the infrastructure behind…

SEC Will Not Approve Leveraged Bitcoin ETF: Report

The U.S. Securities and Exchange Commission (SEC) will not approve the listing of leveraged bitcoin exchange-traded funds (ETF). The SEC instructed at least one prospective ETF provider not to proceed with their plans for a leveraged funds, the Wall Street Journal reported on Thursday, citing a person familiar with the matter. The U.S. markets regulator wishes to limit bitcoin-related investment vehicles to those that provide un-leveraged exposure – in others words not comprised of borrowed funds. The report emerges two days after Valkyrie Investments filed to offer 1.25x leveraged bitcoin…

Nasdaq listing hints that the SEC may soon approve ETF application from Valkyrie

The U.S. Securities and Exchange Commission, or SEC, may soon approve an application from crypto asset manager Valkyrie for a Bitcoin Strategy exchange-traded fund, with the shares to be listed on the Nasdaq Stock Market. According to an Oct. 15 notice from the SEC, the agency has accepted the registration of shares of Valkyrie’s Bitcoin Strategy exchange-traded fund, or ETF, for listing on the Nasdaq. In a letter from Nasdaq vice president of listing qualifications Eun Ah Choi filed the same day, the exchange said Valkyrie’s Bitcoin ETF shares had been certified.…

Will The SEC Approve A Bitcoin Futures ETF In 2021? Here Are The Implications

Rumors are flying. The SEC could approve a Bitcoin Futures ETF before the year ends. It seems like the US Security And Exchange Commission will not give the go-ahead to the mythical Bitcoin ETF just yet… or ever, but a new option has a few companies salivating. What does this mean? And why a Bitcoin Futures ETF before one for the asset itself? That’s what we’re here to explore. Related Reading | Skybridge Capital Applies For Cryptocurrency ETF And Accumulates $100 Million For ALGO Fund But first, why is the…

UAE regulators approve crypto trading in Dubai free zone

Financial regulators in the United Arab Emirates have reached an arrangement to officially allow and support cryptocurrency trading in an economic free zone in Dubai. The Dubai World Trade Centre Authority (DWTCA) announced Sept. 22 that it signed an agreement with the UAE’s Securities and Commodities Authority (SCA) to support the regulation and trading of crypto assets within the DWTCA free zone. The new initiative establishes a framework enabling the DWTCA to issue necessary approvals and licenses for financial activities related to cryptocurrencies. As part of the agreement, the SCA…