Tag: SEC

SEC sues Kraken alleging it’s an unregistered exchange, mixes user funds

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The United States Securities and Exchange Commission (SEC) has sued Kraken alleging it commingled customer funds and failed to register as a securities exchange, broker, dealer, and clearing agency with the regulator. In a Nov. 20 complaint in a California District Court, the SEC claimed that since 2018 Kraken had operated as a platform that unlawfully facilitated the buying and selling of cryptocurrencies. “Without registering with the SEC in any capacity, Kraken has simultaneously acted as a broker, dealer, exchange, and clearing agency with respect to these crypto asset securities.” Additionally, the…

Celsius (CEL) Revamp Plan Hits Speed Bump With SEC: Source

“My understanding is that the SEC asked for more information to make a determination,” the person said. “The way I’m interpreting it is the SEC is telling the committee what they want to see for various parts of the business, and now the committee has to decide what they’re going to do with that information.” Source

ARK, 21Shares update spot Bitcoin ETF application as next SEC deadline looms

ARK Investment Management, a major cryptocurrency investment firm founded by Bitcoin (BTC) advocate Cathie Wood, isn’t giving up on its efforts to launch a spot Bitcoin exchange-traded fund (ETF) in the United States. ARK Invest, on Nov. 20, filed another amended prospectus for its spot Bitcoin ETF product developed in collaboration with the European digital asset manager 21Shares. Once approved, the ARK and 21Shares’ Bitcoin ETF, named the ARK 21Shares Bitcoin ETF, will be trading on the BZX Exchange by the Chicago Board Options Exchange (CBOE) under the ticker symbol ARKB,…

Fake BlackRock XRP ETF, SEC, Elon Musk

This week, the crypto community erupted when a fake BlackRock XRP ETF filing surfaced; regulators are still indecisive on ETF filings; Elon Musk’s “thermonuclear” lawsuit earns praise from InputOutput; and institutional adoption remains sustained. Fake BlackRock XRP ETF filing The XRP community was thrown into excitement when a filing for a BlackRock iShares XRP Trust made its way to the Delaware ICIS on Nov. 13. The discovery triggered an XRP rally to $0.73. However, the asset was dumped immediately when several industry commentators such as Bloomberg ETF analyst Eric Balchunas…

Fidelity Joins Race for Spot Ethereum Exchange-Traded Fund, ETH ETF Would Be Major Win for US Investors: SEC Filing

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Financial services giant Fidelity is joining the roster of companies seeking to offer US investors a spot market Ethereum (ETH) exchange-traded fund (ETF).  A new filing with the U.S. Securities and Exchange Commission (SEC) shows that the $4.5 trillion asset manager is seeking to list and trade shares of the Fidelity Ethereum Fund.  “According to the Registration Statement, each Share will represent a fractional undivided beneficial interest in the Trust’s net assets. The Trust’s assets will consist of ETH held by the Custodian on behalf of the Trust. The Trust…

SEC delays verdict on Franklin and Globe X’s Bitcoin ETF

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The U.S. Securities and Exchange Commission (SEC) has once again postponed its decision on whether to approve the country’s first spot Bitcoin exchange-traded fund. Documents released on Nov. 17, reveal that the regulator has deferred decisions on filings from Franklin and Globe X.  This deferral follows delays for other applicants, as both companies submitted their initial applications later than some of their competitors. The postponement of decisions on these two spot Bitcoin ETF applications, Franklin and Globe X Bitcoin Trust, contributes to the prevailing uncertainty regarding the approval of such…

WisdomTree amends S-1 form spot Bitcoin ETF filing as crypto crowd awaits SEC decisions

The global exchange-traded fund (ETF) provider WisdomTree filed an amended S-1 form spot Bitcoin (BTC) ETF prospectus with the United States Securities and Exchange Commission (SEC) on Nov. 16. The update comes a few months after WisdomTree refiled its spot Bitcoin ETF application in June 2023, proposing a rule change to list and trade shares of the WisdomTree Bitcoin Trust on the BZX Exchange by Chicago Board Options Exchange (CBOE). The amended prospectus mentions that the WisdomTree Bitcoin Trust ETF will trade under a ticker symbol BTCW, with Coinbase Custody Trust serving as…

WisdomTree amends S-1 form spot Bitcoin ETF filing as crypto awaits SEC decisions

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The global exchange-traded fund (ETF) provider WisdomTree filed an amended Form S-1 spot Bitcoin (BTC) ETF prospectus with the United States Securities and Exchange Commission (SEC) on Nov. 16. The update comes a few months after WisdomTree refiled its spot Bitcoin ETF application in June 2023, proposing a rule change to list and trade shares of the WisdomTree Bitcoin Trust on the BZX Exchange by the Chicago Board Options Exchange (CBOE). The amended prospectus mentions that the WisdomTree Bitcoin Trust ETF will trade under a ticker symbol BTCW, with Coinbase Custody Trust serving…