Tag: SEC

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

Coinbase Pushes SEC To Respond to Crypto Exchange’s Petition for Rulemaking Within 30 Days

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Top US crypto exchange Coinbase is attempting to force the U.S. Securities and Exchange Commission (SEC) to respond to a rulemaking petition created by the firm last year. Coinbase chief legal officer Paul Grewal tells his 50,100 followers on the social media platform X that the crypto company is asking the SEC to clarify exactly how securities laws apply to digital assets. According to Grewal, the SEC’s previous update on the matter wasn’t good enough and Coinbase wants a proper response within 30 days. “We’ve filed our response with the…

SEC nixes plans to appeal Grayscale Bitcoin ETF decision

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The Securities and Exchange Commission (SEC) will not contest a court ruling favoring Grayscale’s proposed spot Bitcoin exchange-traded fund (ETF). An Oct. 14 update from Bloomberg citing an inside source has revealed that the SEC has chosen not to appeal the District of Columbia Court of Appeals’ decision from August, which argued that the regulator had erred in dismissing Grayscale’s Bitcoin exchange-traded fund application. The SEC isn’t planning to ask a federal appeals court to reconsider a ruling that paved the way for Grayscale to launch a spot Bitcoin ETF…

NFTs surge following SEC failure to appeal Grayscale case

Non-fungible tokens (NFTs) witnessed a 15% surge in trading volumes thanks to the U.S. Securities and Exchange Commission’s (SEC) failure to file an appeal in the Grayscale Bitcoin Trust case.  According to on-chain data aggregator CryptoSlam.io, the NFT ecosystem encountered a substantial 15% uptick in the past 24 hours. Total trading volume topped $9.7 million. Notably, there has also been a 5.9% increase in the number of investors actively acquiring NFTs. Ethereum-based NFT collections exhibited a noteworthy 26.7% increase in sales, contributing $5.2 million in trading proceeds over the same 24-hour…

Coinbase continues push to compel SEC to act on crypto rulemaking petition

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Coinbase has doubled down on its push for a court order compelling the U.S. Securities and Exchange Commission to act on the firm’s crypto rulemaking petition. Coinbase wants a mandamus issued within 30 days to compel the SEC to give an official answer on whether it will accept or deny the petition. The SEC submitted a long-awaited status update on Oct. 12, vaguely stating that “commission staff provided a recommendation” to the SEC over Coinbase’s petition, but did not divulge any further details. In an Oct. 13 X post, Coinbase’s…