Tag: SEC

Grayscale ETF Case’s Final Word Coming in Federal Court as SEC Loss Formalized

Grayscale Investments is waiting for a federal court tomorrow or soon after to formalize the defeat it handed the U.S. Securities and Exchange Commission (SEC) two months ago in the parties’ dispute over a spot bitcoin exchange traded fund (ETF). That federal court action will close the case, legally setting Grayscale’s win in stone. Source BitcoinCase039sComingCourtcryptoexchangeETFExchangesFederalFinalFormalizedGrayscaleLossSECWord CryptoX Portal

SEC Chair Says He’s Still Weighing Bitcoin ETF Proposals

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The SEC chair said that the Commission has a lot of applications to review for spot Bitcoin ETFs. Mike Novogratz expects a spot Bitcoin ETF coming by the year end. There’s a lot happening around the approval of the spot Bitcoin ETF in the market with the SEC losing the edge over the applicants. During his interview with Bloomberg on Wednesday, October 18, Gary Gensler stated that they have multiple filings to review as of now. Furthermore, the Commission is reviewing the right exchange-traded products for Bitcoin. “Those filings are…

SEC chairman Gensler confirms ongoing review of Bitcoin ETFs

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Securities and Exchange Commission (SEC) Chairman Gary Gensler recently commented on the application status of numerous Bitcoin spot ETF applications. SEC Chairman Gary Gensler confirmed that the regulator reviews numerous Bitcoin spot ETF applications. While mentioning eight or nine such applications, Gensler emphasized the long-standing review process without specifying Grayscale’s situation. “The staff is doing work on those multiple filings.” Gary Gensler, SEC chairman Speaking to Bloomberg, Gensler added that proponents must ensure that their products are registered with the SEC and go through a filing process somewhat similar to…

SEC may refuse Grayscale’s Bitcoin ETF despite court win

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Despite Grayscale Investments securing a legal victory against the U.S. SEC over its Bitcoin spot ETF application, it’s still uncertain whether the SEC will convert the Grayscale Bitcoin Trust. Grayscale Investments won its lawsuit against the U.S. Securities and Exchange Commission (SEC) regarding its Bitcoin spot exchange-traded fund (ETF) application. However, the court is unlikely to demand the SEC to convert Grayscale Bitcoin Trust (GBTC). Gensler just now asked by @kaileyleinz about the Grayscale lawsuit and again pivots to “We have 8-10 filings from issuers.. there is a process.. and…

Pro-XRP Lawyer Reacts To Musk And Cuban’s SEC Amicus Brief

In a pivotal moment backed by pro-XRP lawyer John E Deaton’s sentiments, high-profile entrepreneurs Elon Musk and Mark Cuban, along with a consortium of prominent investors, have raised objections against the US Securities and Exchange Commission (SEC). This challenge comes in the form of an amicus curiae brief addressing the SEC’s litigation procedures. Elon Musk and Mark Cuban’s Amicus Brief Musk, Cuban, and other amici such as Phillip Goldstein, Nelson Obus, Manouch Moshayedi, and the Investor Choice Advocates Network (ICAN) collectively argue against the SEC’s predominant use of administrative proceedings…

Mike Novogratz thinks the SEC will approve a bitcoin ETF as early as this year

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The crypto market has effectively been on pause – aside from a quick and short-lived spike this week – as investors wait for the SEC to give the green light to a bitcoin ETF. Mike Novogratz says that could come as soon as this year. The CEO of Galaxy Investment Partners, which has its own application for a spot bitcoin ETF in partnership with Invesco in the SEC’s queue, told CNBC Wednesday that the tone has shifted and things are looking up for crypto investors. “It’s going to get approved,…

What’s happening with Bitcoin ETFs, and will the SEC approve them?

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On October 16, the crypto community’s hopes briefly surged upon hearing the news of a Bitcoin ETF approval, only to be dashed when BlackRock denied the information. Since BlackRock, VanEck, Invesco Galaxy, ARK 21Shares, and other financial industry giants filed applications to create spot Bitcoin ETFs in mid-June, the asset has risen in price by 8%. Over the same period, the second largest cryptocurrency by capitalization, Ethereum (ETH), lost 7.5% in price. Previously, the SEC has repeatedly rejected applications from other issuers to create such products, citing problems with the…

SEC might cite market manipulation to deny further Bitcoin ETFs

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The U.S. Securities and Exchange Commission (SEC) may have found additional ammunition to deny future Bitcoin ETF applications following a recent misinformation debacle. The latest development involved false reports claiming the SEC’s approval of a Bitcoin ETF from BlackRock, which led to significant market volatility. Fake news on Bitcoin ETF On Oct. 16, cryptocurrency media outlet Cointelegraph erroneously reported that the SEC had approved a spot Bitcoin ETF from BlackRock’s iShares. The false news was widely circulated on social media, causing Bitcoin’s (BTC) price surge. BlackRock quickly clarified that its…

Grayscale (GBTC), Analysts Mull Bitcoin (BTC) ETF After SEC Decision

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“There will be so much political and legal pressure on the SEC that SEC Chair Gary Gensler has to approve a spot Bitcoin ETF,” said TD Cowen analyst Jaret Seiberg in a note to clients. Interestingly, Seiberg suggests Gensler and team can make a positive of the reversal. “Cementing its power over Bitcoin ETFs will strengthen the SEC’s push for broader crypto authority once Congress is ready to enact crypto market structure legislation,” he added. Original