Tag: ETFs

Spot Bitcoin ETFs issuers get final deadline to change applications

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Companies that applied to launch a spot Bitcoin (BTC) ETF were given a deadline to make any changes to their pending applications. According to Bloomberg, potential Bitcoin ETF issuers were allowed to make changes until Monday morning, Jan. 8. The US Securities and Exchange Commission (SEC) has until Jan. 10 to take action on at least one of these statements. Sources familiar with the matter believe the regulator will use this data to make multiple decisions. The SEC also plans to vote on 19b-4 filings from exchanges that will list…

Former SEC official blasts spot Bitcoin ETFs

John Reed Stark, a former investigator with the U.S. Securities and Exchange Commission (SEC), has blasted the pending approval of spot Bitcoin exchange-traded funds (ETFs), arguing vehemently against the inherent value of cryptocurrencies. In a lengthy Jan. 7 post on social media, Stark painted a grim picture of Bitcoin (BTC) and cryptocurrencies in general, suggesting their only proven utility lies in criminal activities. “To me, the stark reality is that the approval of a Bitcoin Spot ETF is sadly, tragically and catastrophically… another fee-suck… Ponzi scheme… masquerade,” Stark says. See…

Issuers reach significant milestone for spot Bitcoin ETFs

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Issuers of spot Bitcoin (BTC) exchange-traded funds (ETF) have made significant progress toward regulatory approval. According to Bloomberg, the U.S. Securities and Exchange Commission (SEC) has provided positive feedback on key filings and requested no additional feedback on the paperwork for several applications. The agency’s commissioners plan to vote on the exchange-rule filings this week. At least one applicant, asset manager BlackRock, reportedly expects the SEC to approve its application for a spot Bitcoin ETF on Wednesday, Jan. 10. Last week, the SEC instructed multiple exchanges and issuers interested in…

Better Markets CEO urges SEC to reject spot Bitcoin ETFs

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Dennis M. Kelleher, co-founder and CEO of Better Markets, wants the U.S. Securities and Exchange Commission (SEC) to reject all applications for spot Bitcoin exchange-traded products (ETPs).  In a Jan. 5 letter to the SEC, Kelleher argued that the approval would expose millions of American investors to fraud and manipulation, which the SEC is mandated to prevent, leading to “massive investor harm.” He expressed his fears in the context of a recent report by blockchain security firm Scam Sniffer that revealed more than 324,000 crypto users fell prey to fraud…

Cryptocurrency investors eagerly await SEC ruling on bitcoin ETFs

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Omar Marques | Lightrocket | Getty Images Crypto investors are eagerly awaiting an imminent ruling from the SEC that will likely approve the trading of a spot bitcoin ETF, more than a decade after initial attempts were rejected.  13 companies have filed for a spot bitcoin ETF:  Grayscale Bitcoin Trust Ark/21 Shares Bitcoin Trust Bitwise Bitcoin ETF Trust BlackRock Bitcoin ETF Trust VanEck Bitcoin Trust WisdomTree Bitcoin Trust Valkyrie Bitcoin Fund Invesco Galaxy Bitcoin ETF Fidelity Wise Origin Bitcoin Trust Global X Bitcoin Trust Hashdex Bitcoin ETF Franklin Templeton Digital…

Bitcoin Price Nears $45K as Spot BTC ETFs Near Finish Line

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Grayscale, VanECK file Form 8-A for spot Bitcoin ETFs

Form 8-A filings submitted by Fidelity, Grayscale, and VanEck indicate progress toward the widely expected approval for spot Bitcoin ETFs, although the SEC has not given the nod yet.  Grayscale Investments and VanEck filed Form 8-As on Jan. 4 with the United States Securities and Exchange Commission (SEC), marking registration of securities with the watchdog. This is part of a process that allows issuers to eventually list Bitcoin (BTC) ETFs on an exchange should the SEC approve.  The issuer of Grayscale BTC Trust (GBTC), which holds some 620,000 BTC valued…

SEC holds urgent meetings with Nasdaq and NYSE to discuss Bitcoin ETFs

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The SEC is holding meetings today with major exchanges, including the New York Stock Exchange, Nasdaq, and the Chicago Board Options Exchange (CBOE), regarding spot Bitcoin ETFs.  The information was revealed by a Fox Business journalist earlier today, bringing some sense of relief for the wider crypto community after crypto services firm Matrixport reported that the SEC would likely reject all ETF applications in January. This report triggered a major liquidation in today’s market, as the crypto market lost more than $540 million in just four hours.  🚨SCOOP: The @SECGov…

SEC will reject all Bitcoin ETFs in January, says Matrixport

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Matrixport analysts expect the U.S. Securities and Exchange Commission (SEC) to reject all Bitcoin (BTC) spot ETFs in January. In the latest Matrix report, “Why the SEC will REJECT Bitcoin Spot ETFs again”, analysts predict that all applications for spot Bitcoin ETFs could receive approval in the second quarter of 2024. As a result, the price of BTC will fall to $36,000-$38,000 in January, and recommended that investors buy put options or even sell Bitcoin directly. Experts also recalled that the current five-member commissioner leadership, which is critical to ETF…