Tag: ETF

Bitwise Makes 40-Page Addition to Its Spot Bitcoin ETF Application

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Bitwise is one of many financial firms that the SEC continues to delay when it comes to considering their spot Bitcoin BTC ETF applications.  Bitwise, an asset management firm, has updated its application for a spot Bitcoin exchange-traded fund (ETF) with the United States Securities and Exchange Commission (SEC). The 40-page addition follows after the regulator complained about the firm’s earlier proposal. That is as it pertains to using the CME BTC futures market for surveillance sharing. It might be worth noting that Bitwise is one of many financial firms…

Early Rejection Of 21Shares Spot Bitcoin ETF Sparks Concerns

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The US Securities and Exchange Commission’s (SEC) early delay of the ARK 21Shares Spot Bitcoin ETF application has raised concerns in the crypto community about what this move might mean for the potential launch of any Spot Bitcoin ETF this year. No Spot Bitcoin ETF This Year? In a tweet shared on his X (formerly Twitter) platform, Bloomberg Analyst James Seyffart questioned the SEC’s latest decision and whether or not it “may put the hammer down for any hopes of an ETF approval this year.” He further quizzed whether this…

US SEC Postpones Decision on ARK 21Shares Spot Bitcoin ETF to January 2024

The SEC has now postponed decisions on several spot BTC ETF applications, including ARK 21Shares, Valkyrie, WisdomTree, VanEck, and Bitwise. The United States Securities and Exchange Commission (SEC) has officially delayed making a decision on a spot Bitcoin exchange-traded fund (ETF) proposal from ARK 21Shares. The Commission seems to be exploiting the maximum time required to make a decision and had given itself an additional 60 days. The SEC published a notice stating that it needed more time to either approve or reject the ARK 21Shares application proposed for listing on the…

SEC pushes deadline for ARK 21Shares spot Bitcoin ETF to January

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The United States Securities and Exchange Commission (SEC) is taking the maximum time allowed for the regulator to reach a decision on a spot Bitcoin (BTC) exchange-traded fund, or ETF, offering from ARK 21Shares.  In a Sept. 26 notice, the SEC said it would designate a longer period on whether to approve or disapprove of a proposed rule change that would allow ARK 21Shares’ spot BTC ETF on the Cboe BZX Exchange. The commission’s previous delay on Aug. 11 gave the regulator until Nov. 11 to decide whether to approve,…

Bitwise amends spot Bitcoin ETF application with new, detailed argumentation

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Bitwise Asset Management has filed an amended application for a spot Bitcoin exchange-traded fund (ETF), beefing it up with 40 pages of new text responding to the United States Securities and Exchange Commission’s objections to the product. However, it still might not be enough to satisfy regulatory requirements, a company executive warned. Bitwise is among the six financial firms whose spot Bitcoin (BTC) ETF applications are on hold after the SEC delayed its consideration. That move came after a court overturned the agency’s rejection of a Grayscale Investments application to…

Market Analysts Outline When The First Spot Bitcoin ETF Will Be Approved

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In a recent development, analysts at asset management firm Bernstein have predicted when the US Securities and Exchange Commission (SEC) will likely approve the first Spot Bitcoin ETF. When Will The First Spot Bitcoin ETF Be Approved? According to the analysts, the pending Spot Bitcoin ETF applications could be approved early next year. They made this projection in line with the recent court ruling in the Grayscale case, which they believe could force the SEC’s hands.  The court had ruled in favor of Grayscale in a case in which the…

Valkyrie eyes October launch for Bitcoin Futures ETF

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Asset manager Valkyrie Funds is gearing up to launch its Bitcoin ETF.  In a recent tweet from James Seyffart, a research analyst with Bloomberg Intelligence, Valkyrie Funds updated its post-effective date for a leveraged Bitcoin Futures ETF. This product’s initial filing was made on May 15, Seyffart noted. However, the asset management firm has set its sights on a revised Oct. 20 launch date. Valkyrie jockeys for position Valkyrie has thrown its hat into the ring alongside prominent asset management firms like BlackRock and Fidelity, all vying for approval to…

Bitcoin ETF could push BTC price much higher

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SkyBridge Capital founder Anthony Scaramucci expects the launch of a Bitcoin (BTC) exchange-traded fund (ETF) to act as a catalyst, driving the coin’s price higher. Scaramucci suggested that a spot Bitcoin ETF may be approved as soon as the first quarter of next year. This development could spur a bull market into action, he explains. Here’s what the former White House Communications director recently told The Wolf of All Streets’ Scott Melker: As a Wall Streeter, products on Wall Street are sold, they are not bought. And so there’s going to…