Additionally, asset manager Bitwise has a spot bitcoin ETF application pending review with the SEC, with a final deadline of June 29. While declining to address the fund’s specific chances of being approved, Matt Hougan, Bitwise’s chief investment officer, in April told CoinDesk “we’re making progress.” Original
Michael Sonnenshein, CEO, Grayscale Investments at the NYSE, April 18, 2022. Source: NYSE Grayscale, the asset manager running the world’s largest bitcoin fund, met privately with the Securities and Exchange Commission last week in an effort to persuade the regulator to approve the conversion of its flagship fund into an ETF, CNBC has learned. Turning the Grayscale Bitcoin Trust into a NYSE-traded ETF would broaden access to bitcoin and enhance protections while unlocking up to $8 billion in value for investors, according to a 24-page presentation obtained by CNBC. That’s…
The United States Securities and Exchange Commission (SEC) has given the green light to Valkyrie’s futures exchange-traded fund (ETF) application. This represents another ETF that has been approved by the SEC, which has previously accepted futures ETFs, but no sign of spot ETFs yet. According to the SEC document published Thursday, the application was filed under the Securities Exchange Act of 1934 using a 19b-4 form, the same law that spot Bitcoin (BTC) ETF prospects are relying on — albeit with little success thus far. Last month, the watchdog gave the…
The United States Securities and Exchange Commission has given the green light to Valkyrie’s futures exchange-traded fund (EFT) application. This represents another ETF that has been approved by the SEC, which has previously accepted futures ETFs, but no sign of spot ETFs yet. As per the SEC document published Thursday, the application was filed under the Securities Exchange Act of 1934 using a 19b-4 form, the same law that spot Bitcoin (BTC) ETF prospects are relying on — albeit with little success thus far. Last month, the watchdog gave the…
Valkyrie filed its application using the Securities Exchange Act of 1934, filing a 19b-4 form with the SEC. Most of the previously-approved bitcoin futures ETFs filed by other companies were under the Investment Company Act of 1940, which follows a slightly different regulatory pathway to approval. Valkyrie is the second ETF to win approval with the older law, following Teucrium. Both companies also filed under the so-called “33 Act.” Source
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The United States Securities and Exchange Commission seems willing to approve a spot ETF if adequate surveillance measures are in place. A footnote in a recent letter said as much, saying that it would overcome concerns about investor protection. The SEC is stubborn in its demands for investor protection and wants more supervision of the market before it allows such developments as a spot ETF. The United States Securities and Exchange Commission appears to be opening up to a possible spot bitcoin ETF in the near future, judging by a…
“Blockchain and the metaverse are two extraordinarily powerful trends that are set to dramatically change our society and how we do business,” Roy Ratnavel, CI GAM’s executive vice-president and head of distribution for CI GAM said. “Our ETFs provide investors with low-cost, convenient and diversified exposure to the growth potential of these rapidly developing, leading-edge sectors.” Source
Samsung Group’s investment arm is reportedly set to list a blockchain exchange-traded fund (ETF) on the Hong Kong Exchange during the first half of this year. The ETF will have a structure which is similar to that of BLOK, one of Amplify Holdings’s ETF products. Samsung Asset Management’s Stake in Amplify Holdings Samsung Asset Management Company (SAMC) is expected to list a blockchain exchange-traded fund (ETF) on the Hong Kong Exchange during the first half of 2022, the parent company Samsung Group has said. The listing of an ETF, which…
With $10 trillion worth of assets under management, Blackrock has officially announced the launch of a new ETF called the iShares exchange-traded fund that will give customers access to crypto markets without having an actual investment in Bitcoin or Ethereum. BlackRock is an American investment management company working across borders, known as the world’s largest asset manager. The primary motive of the recent move is to concentrate on cryptocurrency, tech companies, and blockchain technology. BlackRock intends to attract rich corporate entities to do business in the crypto space without direct…