Tag: SEC

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…

Ripple lawyer urges fact-check of Gary Gensler’s speech, says SEC actions seen as ‘shady’

As Gary Gensler reiterates the United States Securities and Exchange Commission’s (SEC) mandate through a speech, Ripple’s lawyer and various crypto community members responded, criticizing the SEC chair and arguing that the commissioner’s words contradict his actions.  On Nov. 16, SEC chairperson Gary Gensler shared a video of him conducting a speech at the 2023 Securities Enforcement Forum. In the speech, the incumbent SEC chair highlighted the words of the first SEC chairperson, Joseph P. Kennedy, saying that the government agency should be “partners of honest business and prosecutors of…

Ripple lawyer urges fact-check of Gary Gensler’s speech, says SEC actions seen as ‘shady’

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As Gary Gensler reiterated the United States Securities and Exchange Commission’s mandate in a speech, Ripple’s lawyer and various crypto community members responded, criticizing the SEC chair and arguing that the commissioner’s words contradict his actions. On Nov. 16, SEC Chair Gary Gensler shared a video of him conducting a speech at the 2023 Securities Enforcement Forum. In the speech, he highlighted the words of the first SEC chair, Joseph P. Kennedy, saying that the government agency should be “partners of honest business and prosecutors of dishonesty.” As Joseph P.…

BlackRock Files Ethereum Spot ETF With SEC

Per the S-1 filing submitted to the SEC, the iShares Ethereum Trust is designed to reflect the performance of the Ethereum. BlackRock Inc (NYSE: BLK), a top investment asset management firm, has filed for a spot Ethereum Exchange Traded Fund (ETF) with the United States Securities and Exchange Commission (SEC). This comes only a week after it registered the ETF dubbed iShares Ethereum Trust with Delaware’s Division of Corporations, and almost six months after filing for Bitcoin equivalent, the iShares Bitcoin Trust. Notably, the iShares brand is associated with all…

Bitcoin Price Is Up Despite SEC Delay, Is The Spot ETF Decision Priced In Already?

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On Wednesday, the Bitcoin price rallied toward $38,000 amid expectations of the United States Securities and Exchange Commission (SEC) finally approving the first Spot BTC ETF. The regulator would end up exercising its right to delay its decision further, something that has usually been bearish for the price. However, the Bitcoin price continued to show strength, suggesting that a Spot Bitcoin ETF approval might be priced into the market already. SEC Delays Spot BTC ETFs The SEC announced on Wednesday that it had decided to further delay its decision on…