Tag: ETF

SEC met with Franklin Templeton over spot Bitcoin ETF

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Discussions between the SEC and Franklin Templeton emerged as crypto proponents stayed bullish on spot Bitcoin ETFs amid market dips. The $1.5 trillion asset manager reportedly met with the U.S. Securities and Exchange (SEC) on Dec. 8 for further discourse on the firm’s bid for a spot Bitcoin ETF, a product many potential issuers hope to bring to America’s market. JUST IN: 🇺🇸 SEC held a meeting with $1.5 trillion Franklin Templeton about its spot #Bitcoin ETF 👀 — Bitcoin Magazine (@BitcoinMagazine) December 12, 2023 The details of the meeting…

BlackRock’s (BLK) BTC ETF Now Invites Participation From Wall Street Banks

“If the SEC accepts this revised, dual model of create and redeem with cash and physical, that means the liquidity that supports the ETF shares when they trade would be increased, because obviously, you have more potential APs as part of the process,” CF Benchmarks CEO Sui Chung said in an interview. (CF Benchmarks is the Kraken-owned benchmarks administrator for several existing spot bitcoin ETF applications, including BlackRock’s.) “And although trading firms like Jane Street, etc. are large and are experts, they fundamentally don’t have the trillion-dollar plus balance sheets…

SEC, BlackRock, and Fidelity Iron Out Details for Potential Bitcoin ETF

As the SEC engages in detailed discussions with investment giants like BlackRock and Fidelity, the potential approval of a spot Bitcoin ETF seems to be moving closer to reality. The crypto market is abuzz following recent revelation that the Securities and Exchange Commission (SEC) engaged in discussions with major investment firms BlackRock Inc (NYSE: BLK) and Fidelity Investments, to iron out technical details for a potential spot Bitcoin Exchange-Traded Fund (ETF). Spot Bitcoin ETF and the Redemption Process Vivian Fang, a finance professor at Indiana University, noted that the SEC…

Final lap before spot Bitcoin ETF in play

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Analysts opined that the U.S. SEC would likely approve spot BTC ETFs in early January 2024, with eyes on the deadline for a decision on ARK Invest’s application.  ETF expert Nate Geraci surmised that the final response date for ARK Invest’s joint filing with 21Shares for a spot Bitcoin (BTC) ETF further strengthens predictions of approval within the first two weeks of January 2024. The Securities and Exchange Commission (SEC) has until Jan. 10 to decide whether to accept or deny ARK Invest’s bid. Geraci speculated that this hints at…

BlackRock amends ETF filings; Do Kwon & more

Today’s weekly recap looks at the U.S. ETF race, as BlackRock and VanEck amend their filings. Also, Montenegro’s authorities are considering extraditing Terra’s founder, while the crypto scene sees sustained regulatory developments. BlackRock, Bitwise, VanEck amend ETF filings As leading asset managers continued to anticipate a decision on a spot Bitcoin ETF, they made changes to align with the U.S. SEC’s demands. Bloomberg ETF analyst James Seyffart revealed on Dec. 4 that BlackRock had amended its filing. Reports further suggested that crypto fund manager Bitwise also updated its application. Seyffart…

SEC in hot seat for Ark Investment BTC ETF final deadline

The U.S. Securities and Exchange Commission must either greenlight or turn down Ark Investment’s spot bitcoin (BTC) ETF application by Jan. 10, 2024. The Florida-based asset management firm reportedly has the second-nearest application expiry date, with Grayscale’s final deadline set for Jan. 1, 2024. Ark updated its S-1 filings with the financial watchdog on Dec. 2, 2023, according to recent records. The financial regulator initially postponed the verdict, seeking public opinion on the vulnerabilities of spot BTC ETFs, off the back of rejecting several applications. Gary Gensler and the SEC…

VanEck files 5th amendment to spot Bitcoin ETF under ‘HODL’

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Asset manager VanEck filed a fifth amended application for a spot Bitcoin (BTC) exchange-traded fund (ETF) on Dec. 8. According to the regulator’s database, the amended filing to the S-1 Form with the United States Securities and Exchange Commission (SEC) highlights updates to the VanEck Bitcoin Trust. A spot Bitcoin ETF is an investment vehicle that lets people buy shares in a fund that tracks the price of Bitcoin. The VanEck ETF is now expected to be listed under “HODL,” which is a misspelling of “hold” or an acronym for “hold…

Fidelity and SEC meet to discuss spot Bitcoin ETF application

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The United States Securities and Exchange Commission (SEC) recently met with Fidelity to seek additional clarity on its spot Bitcoin (BTC) exchange-traded fund (ETF) application. According to a filing published on December 7, two Cboe BZX Exchange representatives, along with six personnel from the SEC and nine individuals from Fidelity, discussed the workings of the Wise Origin Bitcoin Trust in a meeting.  “The discussion concerned Cboe BZX’s proposed rule change to list and trade shares of the Wise Origin Bitcoin Trust under Cboe BZX Rule 14.11(e)(4). Fidelity also provided the…

YieldMax files for ETF focused on MicroStrategy derivatives

YieldMax, a firm specializing in exchange-traded funds (ETFs), has filed to launch a novel yield-bearing ETF based on shares of Michael Saylor’s Bitcoin (BTC) holding company, MicroStrategy. According to a Dec. 7 filing with the U. S. Securities and Exchange Commission (SEC), the proposed ETF, named Option Income Strategy ETF, is scheduled for a 2024 release and will trade under the ticker MSTY. This ETF employs a “synthetic covered call” strategy, which involves a combination of buying call options and selling put options to generate income. This income is then…

SEC’s “Crypto Asset Securities” Alert Boosts Spot Bitcoin ETF Prospects

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As anticipation builds for the long-awaited approval of a spot Bitcoin ETF by the US Securities and Exchange Commission (SEC), an encouraging sign has emerged, further increasing the likelihood of approval.  The SEC issued an investor alert regarding “crypto asset securities,” prompting speculation that the spot Bitcoin ETF may be closer than ever.  Spot Bitcoin ETF Approval On The Horizon? The recent investor alert issued by the SEC has garnered significant attention in the cryptocurrency community. While the alert does not explicitly mention the spot Bitcoin ETF, many market participants…