July’s ruling did not “present a controlling question of law,” and neither did the SEC’s motion for an appeal, Ripple said in Friday’s filing, which added that the regulator hasn’t proven that different judges might disagree with the ruling, or that an appeal would lead to a faster end for the court case – all of which are requirements for the judge to approve an appeal, according to the filing. Source
Following the United States Securities and Exchange Commission (SEC) delaying decisions on several spot Bitcoin exchange-traded funds, former commission chair Jay Clayton said he believed approval was still going to happen at some point. In an Sept. 1 interview with CNBC, Clayton said major financial institutions backing spot Bitcoin (BTC) investment vehicles represented a shift in how retail investors could get exposure to crypto. On Aug. 31, the SEC designated a longer period in which it could review spot BTC exchange-traded fund (ETF) applications from BlackRock, WisdomTree, VanEck, Invesco Galaxy,…
Bitcoin continues to show weakness as the BTC price can move towards $24,000-25,000 as it goes to test the 200-week EMA once again. On Thursday, August 31, the world’s largest cryptocurrency Bitcoin plummeted by more than 4.5% with its price slipping under $26,000, losing all the early week gains after the Grayscale court ruling. The selling pressure on BTC and its price comes as the US Securities and Exchange Commission (SEC) announced its decision to delay the approval of seven spot Bitcoin ETF applications. This includes applications from giants such…
The U.S. Securities and Exchange Commission (SEC) delayed until October a decision on all spot bitcoin exchange-traded fund (ETF) applications submitted by firms including BlackRock, WisdomTree, Invesco Galaxy, Wise Origin, VanEck, Bitwise and Valkyrie Digital Assets, according to agency filings on Thursday. The SEC began reviewing the latest slate of applications from both crypto-heavy and traditional finance firms last month. The applicants hope to launch the first spot bitcoin ETF, which advocates have argued will allow for greater retail investment in the bitcoin market while saving investors the trouble of…
On August 29, flagship cryptocurrency Bitcoin soared to as high as $28,000 following Grayscale’s victory. However, it has now lost these gains as the US Securities and Exchange Commission (SEC) chose to delay its decisions on seven Spot ETF applications. Bitcoin Crashes Below $26,000 Bitcoin dropped by over 4% to $26,000 as the SEC extended the timeline to decide on the ETF applications of BlackRock, WisdomTree, Invesco, Fidelity, Valkyrie, VanEck, and Bitwise. This price action contrasts with when the cryptocurrency had reacted positively to the news of Grayscale’s victory, with…
In less than a day, Bitcoin (BTC) has shed nearly all the gains it made from Grayscale Investment’s court victory against the United States Securities regulator. On Aug. 29 Bitcoin popped to a two-week high after a judge ruled that the Securities and Exchange Commission was “arbitrary and capricious” when it rejected Grayscale’s spot Bitcoin ETF application. However, the SEC’s recent delay to seven pending spot Bitcoin ETF applications has sent Bitcoin’s price downwards, falling nearly 5% in the last 24 hours. Cointelegraph Markets Pro data shows Bitcoin’s price is…
Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The United States Securities and Exchange Commission (SEC) has postponed its ruling on six spot Bitcoin exchange-traded fund (ETF) applications from WisdomTree, Invesco Galaxy, Valkyrie, VanEck, Fidelity, and BlackRock. In a filing on Aug. 31, the regulator said they will be taking another 45 days to consider the proposed rule changes. That means they have until October 2023 to approve, deny, or announce a delay of the decision. This postponement follows reports suggesting that the SEC…
The United States Securities and Exchange Commission (SEC) has delayed an application for a Bitcoin (BTC) exchange-traded fund from global asset manager BlackRock. BlackRock, a firm with more than $8.5 trillion in assets under management, had a decision on its iShares Bitcoin Trust delayed following an application with the SEC. In June, BlackRock lodged an application for a BTC-backed ETF with Coinbase listed as the planned custodian of the fund’s Bitcoin holdings and the Bank of New York Mellon in charge of its fiat accounts. BlackRock’s filing outlined the value of the…
The United States Securities and Exchange Commission (SEC) has postponed its decision on WisdomTree’s Bitcoin Trust first filed on Dec. 8 2021. The institutional giant refiled its ETF application on July 19, 2023 with the first deadline approaching. WisdomTree’s Bitcoin ETF proposal didn’t get the SEC’s approval in 2021. However. after BlackRock joined the spot Bitcoin ETF race, WisdomTree refiled its application as well, However, WisdomTree was not the only institutional giant making a second attempt after rejections, the likes of Valkyrie, Fidelity and Invesco have also re-filed their applications…
Judge Neomi Rao, writing for the unanimous court, said the SEC’s denial of the application was inconsistent with the approval of a pair of bitcoin futures ETFs, and did not explain why it viewed these types of products differently given the underlying bitcoin market had a “99.9% correlation” between spot and futures market prices. Grayscale’s argument that its proposed ETF was “materially similar” to the futures ETFs won. Original