Several major institutions, among them BlackRock, Fidelity, WisdomTree and Valkyrie, have in recent months filed applications for a spot bitcoin ETF to make investing in bitcoin more accessible. While the Securities and Exchange Commission (SEC) has in the past rejected such applications, many experts say there is a good chance that at least some of the applications will get approved, especially that of BlackRock, which has rarely been denied an ETF application in the past. Source
Tag: Bloomberg
BlackRock (BLK) CEO Larry Fink Got ‘Orange-Pilled’, Says Galaxy Digital’s (GLXY) Mike Novogratz: Bloomberg
Novogratz, CEO of crypto-focused financial services firm Galaxy Digital (GLXY), said Fink is “the most important thing that happened this year in bitcoin,” because of BlackRock’s application to list a spot bitcoin exchange-traded fund (ETF) in the U.S. in June. Source
Crypto Mining Retailer Phoenix Looks at IPO in UAE: Bloomberg
The UAE-based firm is developing one of the region’s largest mining facilities. Source
Chinese Ant Group to Divest Non-Core Assets, Including Blockchain, for Another HK IPO Attempt, Reports Bloomberg
Following information from insiders cited by Bloomberg, Ant Group is contemplating a restructuring plan. To clear the way for its Initial Public Offering (IPO) in Hong Kong, this strategy intends to sell parts of its company that are unrelated to its core financial activities in China. These sources claim that the corporation is thinking about separating its core organization from its database management services, blockchain technology, and overseas activities. The rationale is to leverage this move for a financial holding license application in China. It’s important to keep in mind that…
Metaverse Startup Futureverse Raises $54M Series A From 10T Holdings, Ripple Labs: Bloomberg
Futureverse formed out of the merger of eight companies in late 2022, with three more assimilated subsequently. Source
COIN CEO Brian Armstrong to Meet New Democrat Coalition Members About Crypto Legislation: Bloomberg
The meeting will concern “digital-asset legislation and related issues including tax, national security, privacy and climate,” the report said. Recently, lawmakers from the House and Senate have introduced separate bills in an attempt to bring clarity to crypto regulation, though the reality of a divided Congress means it’s unclear whether such efforts will bear fruit. Source
BlackRock Bitcoin ETF could unlock $30 trillion worth of wealth, Bloomberg analyst says
$30 trillion worth of capital could suddenly unlock for the Bitcoin market if a Bitcoin spot ETF is approved by the U.S. Securities and Exchange Commission, according to Bloomberg ETF analyst Eric Balchunas. That is the estimated amount of assets controlled by financial advisors in the U.S., who would be willing to get exposure to Bitcoin through a regulated exchange-traded fund. “ETF is the format in which the boomers and the financial advisors prefer their investments delivered in”, Balchunas explained in an exclusive Cryptox interview. Blackrock’s application for a Bitcoin…
Sega Rethinks Plans of Entering Blockchain Gaming, COO Calls GameFi ‘Boring’: Bloomberg
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CFTC Finds Celsius, Ex-CEO Broke Agency Rules: Bloomberg
The report says that investigators at the CFTC have concluded that the bankrupt lender and its CEO broke the regulators’ rules by misleading investors, the report added. If a majority of the CFTC’s commissioners agree, the agency could file a case against them. Source
Binance Australia’s Offices Searched by Financial Regulator: Bloomberg
The report, citing anonymous sources, comes after the company’s derivatives license was canceled in April, following an investigation into how it classified clients as professional wholesale investors, as they can get fewer regulatory protections than regular retail customers. Source