Tag: SEC

BlackRock Bitcoin ETF Potential Approval Faces Questions, SEC Could Make Decision by January 10

In its initial filing, BlackRock mentioned that the Prime Execution Agent would obtain BTC to support the ETF’s shares on a 1-to-1 ratio. Although the company didn’t disclose the name of the chosen agent, it did identify Coinbase as the proposed custodian.  BlackRock Inc (NYSE: BLK), the world’s largest asset manager, is putting the final touches to its plan for a Bitcoin exchange-traded fund (ETF). As part of the process, the company intends to use a third-party broker, which it regards as a “Prime Execution Agent” to handle BTC purchases…

Grayscale meets with SEC, Hashdex releases ad

Grayscale meets with the SEC again to discuss its spot Bitcoin ETF application, and Hashdex becomes the second firm to post a crypto ETF ad.  According to reports, Grayscale met with the SEC on Tuesday to discuss potential rule changes to their ETF application. The leaked memorandum shared by Bloomberg reporter James Seyffart shows that Grayscale is still pushing for in-kind and cash transactions for their spot Bitcoin ETF. In-kind transactions refer to the process where ETF shares are created or redeemed by exchanging securities, like stocks or bonds, instead…

BlackRock meets with SEC for 24th time to discuss Bitcoin ETF

Asset manager BlackRock met again with representatives of the U.S. Securities and Exchange Commission (SEC). Bloomberg analyst James Seyffart reported that BlackRock’s meeting on Dec. 19 is the 24th meeting that SEC representatives have held with companies that have applied to open a spot Bitcoin (BTC) exchange-traded fund (ETF). Before meeting with the SEC, BlackRock revised its application to include a new mechanism for redeeming shares into fiat money. In addition to BlackRock, the NASDAQ stock market representatives were present at the meeting. “The discussion concerned The NASDAQ Stock Market’s…

US SEC Delays Decision on Multiple Ethereum ETFs, What’s Next?

In the recent filing, the US SEC stated that they are still considering on whether these Ethereum ETFs should be listed. The United States Securities and Exchange Commission (SEC) has announced a delay in its decision on several Ethereum (ETH) exchange-traded funds (ETFs) until May 2024. As per regulatory filings on December 18, the SEC postponed its decision on the Hashdex Nasdaq Ethereum ETF and the Grayscale Ethereum Futures ETF. The Hashdex Ether ETF shall hold both spot Ether and futures contracts. Similarly, Grayscale’s Ethereum Futures ETF is a strategic…

SEC delays several Ethereum ETFs, pushing final decision to May

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The United States Securities and Exchange Commission is pushing back its decision on several Ether (ETH) exchange-traded funds (ETFs) to May 2024. In several Dec. 18 regulatory filings, the agency delayed its decision on the Hashdex Nasdaq Ethereum ETF and the Grayscale Ethereum Futures ETF. The Hashdex Ether ETF aims to hold both spot Ether and futures contracts, while Grayscale’s Ethereum Futures ETF is seen as a “trojan horse” that would corner the SEC into allowing Grayscale to convert its Ethereum Trust to a spot Ethereum ETF. In the filings, the…

Coinbase appeals SEC rulemaking petition denial as promised

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Coinbase is continuing its efforts to ensure adequate legislation on cryptocurrency used as securities. After the United States Securities and Exchange Commission (SEC) denied Coinbase’s petition for rulemaking on cryptocurrency on Dec. 15, the crypto exchange appealed the decision on the same day. Coinbase chief legal officer Paul Grewal promised immediate action as soon as the SEC’s denial became known. On Dec. 18, the U.S. Third District Court of Appeals ordered the SEC to file the record of its decision by Jan. 24, 2024. In its appeal, Coinbase documented the…