Tag: ETF

SEC’s Gensler avoids Bitcoin ETF question in latest Senate hearing

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Gary Gensler, the Chairman of the SEC, stood before the Senate Banking Committee on Sept. 12, answering questions on topics ranging from artificial intelligence to the enforcement actions against the cryptocurrency industry. In his prepared statement, Gensler stands firm on his stance that the U.S. Securities and Exchange Commission should monitor the crypto market while avoiding a direct answer to a question about spot ETF approvals for crypto. Ongoing Bitcoin ETF race When asked what the SEC needs to see in a spot ETF filing by Senator Hagerty, Gensler simply…

Franklin Templeton joins bid for spot Bitcoin ETF

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The $1.5 trillion asset manager submitted its own filing to secure regulatory approval for America’s first spot Bitcoin ETF. Franklin Templeton became the latest fund manager to declare interest in listing a spot Bitcoin exchange-traded fund (ETF) following a Sep. 12 filing with the US Securities and Exchange Commission (SEC). The financial giant with over $1.5 trillion in assets under management (AUM) asked the SEC for permission to list shares of its Franklin Bitcoin ETF on the Cboe BZX Exchange. In the Form S-1 filing, the company named the publicly-traded…

Franklin Templeton Aims High with Spot Bitcoin ETF Application

Financial giant Franklin Templeton has applied to the SEC for approval to launch a Bitcoin exchange-traded fund (ETF) named the Franklin Bitcoin ETF, with Coinbase as the custodian and trading on the Cboe BZX Exchange. Asset manager Franklin Templeton, a financial giant managing over $1.4 trillion on behalf of its clients, has submitted an application to the US Securities and Exchange Commission (SEC) to launch a Bitcoin exchange-traded fund (ETF). According to the filed application, the ETF would be named the Franklin Bitcoin ETF, with custody entrusted to Coinbase Custody…

Franklin Templeton files for Bitcoin spot ETF

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Asset manager Franklin Templeton applied to the United States Securities and Exchange Commission (SEC) on Sept. 12 to launch a Bitcoin (BTC) spot exchange traded fund (ETF). The application comes after the SEC delayed decisions on applications from WisdomTree, Valkyrie, Fidelity, VanEck, Bitwise and Invesco BTC spot ETF applications on Aug. 31 and a court ruling Aug. 29 that the SEC must consider Grayscale’s application to covert its BTC futures ETF into a spot ETF. According to the application, the fund is structured as a trust. Coinbase will custody the…

Franklin Templeton Joins Bitcoin ETF Race

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Franklin Templeton follows Blackrock and other financial heavyweights who have bet that the SEC may soon allow – or perhaps even be forced by the courts to allow – a spot bitcoin ETF to hit the public markets. Such a product would give everyday investors an easy means to gain exposure to the price of bitcoin in their brokerage accounts, alongside stocks and bonds. Original

Here’s Why Ethereum Price Barely Moved Following Ark’s ETF Application

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The price of Ethereum seems to be back under the influence of the current market sentiment despite enjoying a relatively positive week. On Wednesday, September 6, Ark Invest filed for the first Ethereum spot exchange-traded fund (ETF) in the United States. This ETF application had a tame impact on the price of Ether, with the cryptocurrency only climbing to $1,650 the following day. Moreover, the token has almost fully reversed the minor gains from the significant development. Ethereum Price Registers 0.1% Rise Last Week – Here’s Why Ethereum currently changes…

10 years later, still no Bitcoin ETF — but who cares?

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The first spot Bitcoin exchange-traded fund (ETF) application, filed in July 2013, was denied in both 2017 and 2018. A decade has passed since that initial application, and the Securities and Exchange Commission has rejected more than a dozen additional applications and repeatedly punted the date for deciding on others. The ETF saga’s latest iteration saw Bitcoin (BTC) jump more than 6% as industry advocates celebrated a court ruling that affirmed what we already knew — that the SEC’s rejection of Grayscale’s ETF application was “arbitrary and capricious.” This was,…

Cathie Wood’s Ark Invest and 21Shares File for Spot Ether ETF

The Delaware Trust Company will act as the trustee of the spot Ether ETF from Ark Invest and 21Shares, while Coinbase will act as the crypto custodian. While the broader crypto market awaits the launch of the Ethereum futures ETF, financial players are gunning for a spot Ether ETF. On Wednesday, September 6, asset managers ARK Invest and 21Shares filed with the US Securities and Exchange Commission (SEC) for an exchange-traded fund (ETF) that would directly hold Ether (ETH). Spot Ether ETF This is the first-ever attempt to list the…

Ark 21Shares, VanEck Start Bids for First Ether ETF in the U.S.

The exchange filed 19b-4 documents on Wednesday, formally kicking off a review process. Once the U.S. Securities and Exchange Commission (SEC) acknowledges the filings, it will start a 240-day clock for a final decision. The SEC will have a number of intermediary deadlines to make a decision, but has traditionally taken the maximum number of days possible to review applications. Source