Cboe’s BZX Exchange named crypto exchange Coinbase as the market for its surveillance-sharing agreement when it refiled its bitcoin exchange-traded fund application on TKday. Original
Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The U.S. Securities and Exchange Commission (SEC) has reportedly found recent applications for spot Bitcoin exchange-traded funds (ETFs) wanting in specificity, despite filings from major players like BlackRock and Fidelity. The United States Securities and Exchange Commission (SEC) has reportedly deemed the recent flood of spot Bitcoin exchange-traded funds (ETFs) applications as deficient, based on a Wall Street Journal article. Insiders have shared that the topmost regulatory body has pronounced the applications insufficiently detailed. This information…
There is no doubt that BlackRock’s spot Bitcoin exchange-traded fund (ETF) application — and the flood of contenders that followed — has buoyed the bulls. It could signal the winds of change in the regulatory sphere, they say. It could bring Bitcoin exposure to the masses, they holler. While there might be some truth in these statements, we need to take a step back and look at the bigger picture. We should not be in a world where the mere possibility of a spot Bitcoin ETF coming to fruition in…
Bitcoin (BTC) fell below $30,000 after the June 30 Wall Street open as markets panicked over the fate of its first spot exchange-traded funds (ETFs). BTC/USD 1-hour chart. Source: TradingView Bureaucratic error may explain Bitcoin ETF filing hiccup Data from Cointelegraph Markets Pro and TradingView showed BTC price action hurtling downward, briefly reaching $29,500. The volatility accompanied a report that United States regulator the Securities and Exchange Commission had refused applications for the first Bitcoin spot-price ETF. Those applications had kickstarted the latest BTC price rebound, one which had taken the…
At issue, the story continued, is that the filings didn’t have enough detail with respect to the “surveillance-sharing agreements,” including which spot bitcoin exchange would be used. The asset managers can update their applications and refile, and the CBOE indicated to the WSJ that it plans to do so. Original
Traditional financial firms finally believe that digital assets are here to stay. Or so one might conclude from the slew of announcements last week from some of the world’s premiere financial players. Among them is BlackRock — the world’s largest asset manager with $9 trillion in assets under management (AUM) — filed for permission to build a “spot market” Bitcoin-based exchange-traded fund (ETF) — something the United States Securities and Exchange Commission has resolutely resisted. Others include Fidelity Investments, Charles Schwab and Citadel launching EDX, a new cryptocurrency exchange. In…
The introduction of a spot-based Bitcoin (BTC) exchange-traded fund (ETF) would make the asset more accessible to individual investors and mutual funds. What’s more, unlike a futures-based Bitcoin ETF, a spot-based ETF involves actually buying BTC. So, will the approval of the first Bitcoin ETF be a bullish event? Not necessarily. GBTC ‘discount’ remains in the double digits Over the years, the United States Securities and Exchange Commission (SEC) has rejected every Bitcoin ETF applicant, with the latest denial issued to the VanEck Bitcoin Trust on March 10, 2023. The SEC…
Bitcoin cash (BCH) continues to rally at a breakneck speed in the wake of Fidelity, Charles Schwab and Citadel-backed EDX Markets’ decision to debut on June 20, with BCH being one of the only four coins available for trading on the exchange. The cryptocurrency has gained another 30% in the past 24 hours to a 14-month high of $320, taking its cumulative gain since EDX’s debut on June 20 to 183%, CoinDesk data show. The latest price surge is backed by a notable increase in trading activity on South Korea’s…
Following BlackRock’s growing chance of an approval, Fidelity Investments has submitted another application for a spot Bitcoin ETF. Asset management firm Fidelity Investments has submitted another filing for a spot Bitcoin exchange-traded fund (ETF). Fidelity is making another play at a spot ETF after a previous rejection from the United States Securities and Exchange Commission (SEC). Last year, the SEC rejected Fidelity’s proposal for the Wise Origin spot Bitcoin ETF. The SEC said the proposal did not contain enough measures to detect and prevent market manipulation and fraud. According to the Commission, the ETF…
Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Fidelity, the multi-trillion-dollar asset management firm, has once again filed paperwork for its Wise Origin Bitcoin Trust, a move that marks the company’s renewed pursuit of launching a spot bitcoin ETF. Fidelity Investments, the financial titan overseeing $11 trillion in assets under administration, has once again stepped into the arena of spot bitcoin ETF contenders. The move occurs in the wake of BlackRock’s iShares unit, an asset management company with nearly $9 trillion in assets under…