Tag: ETF

SEC in Discussion with Grayscale and Seven Other Spot Bitcoin ETF Applicants

SEC’s discussion with top applicants of spot Bitcoin ETF continue as BTC price has rallied past $41,532 in a fresh surge. The US Securities and Exchange Commission (SEC) has revealed recent meetings with various asset managers to discuss their proposed spot Bitcoin exchange-traded funds (ETFs). On November 29, the SEC’s Division of Trading and Markets members engaged in discussions with several Grayscale employees, including CEO Michael Sonnenshein, and representatives from the law firm Davis Polk. This meeting followed three previous sessions with Grayscale, dating back to 2022, with the latest…

Binance ex-CEO faces travel ban; BTC ETF

Changpeng Zhao, Binance’s former CEO, faced a setback; the Bitcoin spot ETF craze continues, with BlackRock and Grayscale modifying their filings; and BTC clinched the $39,000 spot amid a sustained market uptrend. Binance ex-CEO’s travel ban Recall that the U.S. Justice Department argued against letting Zhao leave to the UAE, adding that he might not return to the U.S. to face his sentencing, as the country does not have an extradition agreement with the UAE. This week, District Judge Richard Jones agreed that authorities restrict Zhao from leaving the U.S.…

Grayscale Bitcoin Trust aims for ETF shift to narrow discount

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Grayscale, a significant player in digital asset management, has expressed enthusiasm about the potential transformation of its Grayscale Bitcoin Trust (GBTC) into a Bitcoin ETF. This move could eliminate the current 8.09% discount of approximately $1.89 billion, aligning GBTC’s price more closely with the actual value of Bitcoin, offering significant benefits for investors. The company’s chief legal officer, Craig Salm and chief financial officer, Edward McGee, revealed the details. Pending approval from the United States Securities Exchange Commission, GBTC is set to transition from its current platform, OTCQX, to the…

Standard Chartered says BlackRock ETF approval will drive 165% BTC price pump, BTCETF Token surge

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. According to analysts at Standard Chartered Bank, the price of Bitcoin (BTC) is poised for significant gains if an ETF spot is approved in the US. This bullish forecast comes as excitement builds around the presale of Bitcoin ETF Token (BTCETF), which has already raised an impressive $2.1 million in early investment. Standard Chartered predicts Bitcoin will hit $100k within 12 months In a recent research note, global banking…

U.S. Securities and Exchange Commission (SEC) Seeks Public’s Thoughts on Fidelity’s Potential Spot Ethereum ETF

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The U.S. Securities and Exchange Commission (SEC) is asking the public what they think about financial services giant Fidelity’s potential spot market Ethereum (ETH) exchange-traded fund (ETF). In a new notice, the regulatory agency is asking the public for their opinion on Fidelity filing a bid to create an Ethereum-based ETF on the Chicago Board Options Exchange (CBOE). “Given that on November 17, 2023, Cboe BZX Exchange, Inc. filed with the Securities and Exchange Commission (SEC) the proposed rule change as described in Items I, II, and III below, which…

Bitcoin ETF Approval Date Hinted By Expert: SEC Decision Expected January 5th

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Anticipation is building as major asset managers’ predicted approval date for Bitcoin ETF applications approaches 2024. Experts have now issued bold predictions, with Bloomberg exchange-traded fund (ETF) expert James Seyffart pinpointing the potential approval window from January 5th to January 10th.  The significance of this timeframe has sparked excitement within the cryptocurrency community, as the approval could mark a major milestone for the industry. However, experts emphasize that failure to approve during this window could have significant implications for the SEC and potential ETF applicants. Bitcoin ETF Approval Expected On…

Grayscale poaches Invesco exec ahead of potential Bitcoin ETF

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GBTC’s issuer added an ETF veteran to its ranks following constructive talks with the Securities and Exchange Commission over approval for spot Bitcoin funds. Digital asset giant Grayscale Investments has hired John Hoffman, a former high-ranking executive at Invesco, to aid its efforts toward bringing America’s first spot Bitcoin (BTC) ETF to market amid growing interest in the world’s top cryptocurrency.  Hoffman was onboarded as Grayscale’s managing director, head of distribution and partnerships, a strategic role pivotal to growing financial products.  He arrived at the firm with nearly two decades’…

Top Analyst Says Potential Spot Bitcoin ETF Approval Could Happen between January 5 and 10, 2024

With the heightened crypto regulatory crackdown and the US SEC’s change of attitude towards the industry, Bloomberg analyst argues all 12 applications will be approved in early January. The Bitcoin (BTC) bullish narrative that began in October is expected to continue in the coming weeks after the flagship crypto asset opened December on a high note. During the early New York trading session on Friday, Bitcoin price reached a new yearly high of around $38.8k, thus rejuvenating the $40k narrative before the end of the year. Moreover, Bitcoin price had…

SEC Considers Fidelity Investments’ Proposed Ethereum ETF

Bloomberg ETF analyst James Seyffart estimates that the SEC’s decision deadline for Fidelity will likely be January 21, 2024, with the final decision expected on March 8, 2024. The United States Securities and Exchange Commission (SEC) has recently opened the floor for public comments on Fidelity Investments’ proposed spot Ethereum (ETH) Exchange-Traded Fund (ETF). This development, if approved, could mark a breakthrough for US investors seeking exposure to the booming world of crypto. The SEC’s Call for Public Input In a notice dated November 30, the SEC invited “interested persons”…