Tag: SEC

South Korea’s pension fund bags 280K Coinbase shares: SEC data

The National Pension Service (NPS), a public pension in South Korea and one of the world’s largest pension funds, bought just over 280,000 shares of the global cryptocurrency exchange Coinbase in the third quarter of this year, an investment that has gained 39% in value since the purchase. The NPS acquired 282,673 Coinbase (COIN) shares in the third quarter of 2023, according to a stock holdings report filed with the United States Securities and Exchange Commission (SEC) on Nov. 15. The investment is worth $27.7 million based on Coinbase’s last…

SEC postpones Hashdex’s spot Bitcoin ETF application

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The U.S. Securities and Exchange Commission (SEC) has delayed a decision on Hashdex’s application to launch a spot Bitcoin ETF in the U.S. The regulator’s website says that the SEC also postponed its decision on Grayscale’s application to launch a futures ETF on Ethereum (ETH). Through the application, Hashdex wants to transform its futures exchange-traded fund into a spot Bitcoin ETF. There is still no such tool in the US. Investors believe that its launch will attract institutional investors to the market. Therefore, applications for the tool have attracted the attention of…

New SEC Custody Rule Could Change How Financial Advisers Interact with Crypto Clients

In choosing a qualified custodian, bankruptcy protections are key. Bankruptcy-remote custody solutions — like Anchorage Digital Bank, a federally chartered bank — would still meet the SEC definition of a qualified custodian. The analysis is more nuanced with respect to state-chartered trusts, which may vary widely in compliance standards, bankruptcy protections, and key storage safety. Source

Bitcoin (BTC) Price Drops 4%, Ether (ETH) Price Declines 6% as Crypto ETF Momentum Stalls with SEC Likely Delay, Analyst Says

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“ETF speculation is front and center for now, but the store of value narrative still holds and will give the asset a resilient and increasing floor,” Noelle Acheson, author of the Crypto Is Macro Now newsletter, noted in an email to CoinDesk. “I very much doubt that the recent sell-off means the rally is done for now.” Original

BlackRock Takes The Fight To SEC With New Filing

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BlackRock and NASDAQ have outlined why the SEC needs to approve the investment company’s new spot Ethereum exchange-traded fund (ETF) filing. According to the filing with the SEC, approval of a Spot ETH ETP would represent a major win for the protection of U.S. investors in the crypto asset space.  If approved, the iShares Ethereum Trust would allow regular investors to trade Ether, the world’s second-largest cryptocurrency by market cap, as easily as stocks can be traded.  BlackRock And NASDAQ Lobbies SEC To Allow Spot ETH ETFs BlackRock, the world’s…

First deadline window looms for SEC to approve Bitcoin ETFs: Law Decoded

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The United States Securities and Exchange Commission (SEC) could approve all 12 pending spot Bitcoin exchange-traded fund (ETF) applications by Nov. 17. Beginning on Nov. 9, the SEC reportedly has a “window” to approve all 12 spot Bitcoin ETF filings, including Grayscale Investments conversion of its Grayscale Bitcoin Trust product. However, even if the SEC approves spot Bitcoin (BTC) ETFs by Nov. 17, it could be more than a month before the products launch. The expected delay in launch following SEC approval would be due to the two-step process of…

Ripple CEO Criticizes SEC for Losing Focus on Investor Protection

Garlinghouse emphasized the need for the SEC to reassess its regulatory approach, moving away from a pattern of enforcement through lawsuits. During the just-concluded Ripple’s Swell conference in Dubai, the company’s CEO Brad Garlinghouse shared his views regarding the United States Securities and Exchange Commission’s (SEC) role in protecting consumers against bad actors. In an interview with CNBC’s Dan Murphy, Garlinghouse stated that, in his opinion, the SEC has strayed from its commitment to investor protection, questioning the agency’s priorities in the process. “I think the SEC, in my opinion,…

Will the SEC approve or buy more time?

As the U.S. Securities and Exchange Commission (SEC) stands at the brink of a pivotal crypto decision, the crypto sphere is abuzz with anticipation regarding the approval of spot Bitcoin exchange-traded fund (ETF) applications. With a window open until Nov. 17, the SEC is evaluating a dozen applications, including Grayscale’s conversion of its GBTC trust product. Will the SEC finally greenlight a spot BTC ETF? While approval of a spot Bitcoin ETF is not assured, the decision by the SEC is eagerly anticipated by both regulators and cryptocurrency enthusiasts. The…

BlackRock argues SEC has no grounds to treat crypto futures and spot ETFs differently

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BlackRock has argued that the U.S. Securities and Exchange Commission doesn’t have any legitimate reason to treat spot-crypto and crypto-futures exchange-traded fund applications differently. BlackRock’s plan for a spot-Ether (ETH) ETF called the “iShares Ethereum Trust” was officially confirmed on Nov. 9, after Nasdaq submitted the 19b-4 application form to the SEC on the firm’s behalf. In its application, BlackRock called the SEC’s treatment of spot crypto ETFs into question, as it asserted that the agency bases its reasons for continually denying these applications on incorrect regulatory distinctions between futures…

BlackRock Anticipates SEC Green Light for Spot Bitcoin ETF by January

With strong confidence that its Bitcoin spot ETF will be approved by January 2024, BlackRock has filed an application for a spot ETH ETF. Leading global asset management company BlackRock Inc (NYSE: BLK) says the Securities and Exchange Commission (SEC) will approve its Bitcoin (BTC) spot ETFs in January 2024, Fox News reported Thursday. According to the report, citing people familiar with the matter, the $9 trillion asset manager is confident that the approval of the ETF is imminent and will not exceed January. If approved, the BlackRock’s spot bitcoin…