Tag: SEC

SEC met with Franklin Templeton over spot Bitcoin ETF

boss

Discussions between the SEC and Franklin Templeton emerged as crypto proponents stayed bullish on spot Bitcoin ETFs amid market dips. The $1.5 trillion asset manager reportedly met with the U.S. Securities and Exchange (SEC) on Dec. 8 for further discourse on the firm’s bid for a spot Bitcoin ETF, a product many potential issuers hope to bring to America’s market. JUST IN: 🇺🇸 SEC held a meeting with $1.5 trillion Franklin Templeton about its spot #Bitcoin ETF 👀 — Bitcoin Magazine (@BitcoinMagazine) December 12, 2023 The details of the meeting…

SEC, BlackRock, and Fidelity Iron Out Details for Potential Bitcoin ETF

As the SEC engages in detailed discussions with investment giants like BlackRock and Fidelity, the potential approval of a spot Bitcoin ETF seems to be moving closer to reality. The crypto market is abuzz following recent revelation that the Securities and Exchange Commission (SEC) engaged in discussions with major investment firms BlackRock Inc (NYSE: BLK) and Fidelity Investments, to iron out technical details for a potential spot Bitcoin Exchange-Traded Fund (ETF). Spot Bitcoin ETF and the Redemption Process Vivian Fang, a finance professor at Indiana University, noted that the SEC…

SEC in hot seat for Ark Investment BTC ETF final deadline

The U.S. Securities and Exchange Commission must either greenlight or turn down Ark Investment’s spot bitcoin (BTC) ETF application by Jan. 10, 2024. The Florida-based asset management firm reportedly has the second-nearest application expiry date, with Grayscale’s final deadline set for Jan. 1, 2024. Ark updated its S-1 filings with the financial watchdog on Dec. 2, 2023, according to recent records. The financial regulator initially postponed the verdict, seeking public opinion on the vulnerabilities of spot BTC ETFs, off the back of rejecting several applications. Gary Gensler and the SEC…

Fidelity and SEC meet to discuss spot Bitcoin ETF application

boss

The United States Securities and Exchange Commission (SEC) recently met with Fidelity to seek additional clarity on its spot Bitcoin (BTC) exchange-traded fund (ETF) application. According to a filing published on December 7, two Cboe BZX Exchange representatives, along with six personnel from the SEC and nine individuals from Fidelity, discussed the workings of the Wise Origin Bitcoin Trust in a meeting.  “The discussion concerned Cboe BZX’s proposed rule change to list and trade shares of the Wise Origin Bitcoin Trust under Cboe BZX Rule 14.11(e)(4). Fidelity also provided the…

Fidelity’s FBTC Spot Bitcoin ETF Inches Closer to SEC Approval on DTCC List

As the growing anticipation for a spot Bitcoin ETF approval continues to propel BTC prices higher, Jurrien Timmer, Fidelity’s director of global macro, believes the crypto asset could surge to over $1 billion in 2038. Fidelity Investments achieves a significant milestone as its spot Bitcoin exchange-traded fund (ETF), known as FBTC, makes its appearance on the active and pre-launch list of the Depository Trust & Clearing Corporation (DTCC). The move places the financial services company at the forefront of the race for the first spot Bitcoin (BTC) ETF approval in…

Vivek Ramaswamy slams Gary Gensler, SEC over ineffective crypto rules

Bitcoin and crypto were on the agenda during the Republican presidential debate, with one contender chastising regulators for not doing enough and allowing FTX to happen. GOP candidate Vivek Ramaswamy pushed back on the narrative that Bitcoin (BTC) and digital assets bootstrap criminal activity by facilitating unchecked money transfers through decentralized networks.  Ramaswamy said that Bitcoin offered an alternative to America’s broken financial architecture” and that his policies would bolster economic freedom in the United States. When asked if legitimizing the burgeoning crypto industry would not also incentivize illegal activity,…

SEC discussing ‘key technical details’ with spot crypto ETF applicants: Report

boss

Officials with the United States Securities and Exchange Commission are reportedly discussing aspects of Bitcoin (BTC) exchange-traded funds, or ETFs, proposed by asset managers. According to a Dec. 7 Reuters report, industry insiders said the SEC and certain asset managers were discussing “key technical details” related to U.S. exchanges listing shares of a spot Bitcoin ETF. To date, the commission has never given the green light to any spot cryptocurrency exchange-traded product, instead postponing decisions on applications for the maximum allowable time. Memos released by the SEC in November showed…

SEC postpones decision on Grayscale’s application for spot Ethereum ETF

The U.S. Securities and Exchange Commission (SEC) has delayed the decision date for Grayscale Investments’ spot Ethereum ETF by 45 days, to Jan. 25, 2024. According to the document, Commission may designate if it finds such longer period to be appropriate and publishes its reasons for so finding or as to which the self-regulatory organization consents. “The Commission finds it appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change and the issues…

Elon Musk-backed xAI Notifies US SEC of Its Intentions to Raise $866.3M through Equity Offering

xAI, the Nevada-based tech company, has so far raised $134 million in its bid to achieve $1 billion to further improve AI tools used by GROK. In a bid to grow its market share and infrastructure, Elon Musk-backed xAI Corp. has filed with the United States Securities and Exchange Commission (SEC) to raise an extra $865.4 million through equity sales. The Nevada-based technology company notified the US SEC through Form D, which is yet to be revised, that it has already sold offerings worth about $134.6 million. The company highlighted…

SEC Delays Decision on Grayscale Spot Ethereum ETF, ETH Price Remains Stable

The US SEC has delayed its decision on converting Grayscale’s ETHE product to a spot Ethereum ETF by another 45 days with the next hearing on January 25, 2024. The Securities and Exchange Commission (SEC) has announced a postponement in the decision-making process regarding the approval or disapproval of the Grayscale Ethereum Trust’s spot exchange-traded fund (ETF). In a filing on Tuesday, December 5, the SEC revealed an extension of the timeline for a decision on the proposed ETF by an additional 45 days, shifting the deadline to January 25.…