Tag: ETF

Following SEC delays, Ark Invest and 21Shares file for spot Ether ETF

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Amid the United States Securities and Exchange Commission (SEC) delaying a decision on Ark Investment Management’s spot Bitcoin (BTC) exchange-traded fund, the firm has proposed an investment vehicle with exposure to Ether (ETH). In a Sept. 6 filing, Ark Invest and 21Shares requested the SEC approve the listing of shares of a spot ETH ETF on the Cboe BZX Exchange. The investment vehicle, called the ARK 21Shares Ethereum ETF, will have crypto exchange Coinbase act as a custodian and measure the performance of Ether based on the Chicago Mercantile Exchange…

Bitcoin Price (BTC) Little-Changed at $25.7K After FASB and Ether ETF News

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Blackrock’s Bitcoin Spot ETF May Unleash $30 Trillion From US Advisors

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The possibility of a Bitcoin spot Exchange Traded Fund (ETF) launching in the US, which has gained much attention over the past months, has again made headlines due to Bloomberg ETF analyst Eric Balchunas’s recent suggestions. According to the analyst, should the US Securities and Exchange Commission (SEC) approve BlackRock’s Bitcoin spot ETF, a vast pool of $30 trillion capital overseen by US financial advisors could be directed toward Bitcoin investments. Notably, Balchunas clarified that while the approval of a BTC spot ETF could serve as an accessible pathway for the $30 trillion…

Grayscale urges SEC to approve its spot Bitcoin ETF filing

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Grayscale is calling on the US SEC to approve its spot Bitcoin exchange-traded fund (ETF) application, arguing that further delay would cause harm to investors.  Grayscale’s lawyers on Sept. 5 wrote a letter to the SEC seeking a meeting with the securities regulator on the way forward for a spot Bitcoin ETF approval. In the letter, the lawyers stated that the SEC’s review of Grayscale’s application has taken nearly three times longer than what is permitted…

Bitcoin Price Drops to Lowest in 6 Months as Crypto Market Anticipates ETF Decision

Bitcoin, which rose after Grayscale won its SEC case, has fallen to its lowest point since March as the market awaits an ETF decision. Bitcoin (BTC) is not keeping up with the bulls as it fell 1% in 24 hours, crashing below the $25,700 mark. The price is some distance from last week when Bitcoin crossed the $28,000 level after a US Court of Appeals took Grayscale’s side in its court battle with the United States Securities and Exchange Commission (SEC) regarding the investment manager’s intention to convert its GBTC Trust into…

Grayscale asks SEC to meet on ‘way forward’ for Bitcoin ETF conversion

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Grayscale has told the Securities and Exchange Commission it has no legal reasoning left to block the conversion of the asset manager’s flagship Bitcoin (BTC) fund to a spot exchange-traded fund (ETF). On Sept. 5, Grayscale’s lawyers sent a letter to the SEC requesting the pair meet to discuss the next steps following the regulator’s court loss regarding the conversion of the Grayscale Bitcoin Trust (GBTC). “Now that the Court of Appeals has spoken, there is no available rationale that would distinguish a Bitcoin futures ETP from a spot Bitcoin…

SEC Has ‘No Grounds’ to Reject Bitcoin ETF Conversion, Grayscale Says

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“After the Commission has had the opportunity to fully analyze the court’s opinion in light of the record, including the reasons for rejection set forth … we believe the Commission should conclude that there are no grounds for treating the Trust differently from ETPs that invest in bitcoin futures contracts,” Grayscale’s legal team wrote in a letter to the regulator on Tuesday. Original

How Everyone Can Win From the Grayscale Bitcoin ETF Decision, Including the SEC

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Should the SEC wish to challenge the federal judge’s conclusions in the Grayscale decision, the company’s application could simply be denied again for a different (or even an analogous) reason. That course of action becomes problematic quickly. The last thing any lawyer wants to do is upset a federal judge. That is a terrible idea, if the aim to quash the U.S. spot bitcoin ETF market before it begins.  Original