The Securities and Exchange Commission (SEC) recently approved several Bitcoin Exchange-Traded Funds (ETFs) in a watershed moment for the crypto industry. However, the enthusiasm surrounding this milestone was dampened by the critical stance taken by SEC Chair Gary Gensler towards Bitcoin and cryptocurrencies in general. Cathie Wood Reacts to Gensler’s Comment This drew surprise and...Read More
Hester Peirce, also known as ‘crypto mom,’ didn’t mince her words in a statement responding to the approval of spot Bitcoin exchange-traded products by her agency after a decade of rejecting them. “Today marks the end of an unnecessary, but consequential, saga,” she said on Jan. 10. The saga likely would have spanned well beyond...Read More
Analysts in the crypto community wonder if the false announcement on the spot Bitcoin exchange-traded funds (ETF) approval from the X account of the United States Securities and Exchange Commission (SEC) is an inside job. In a tweet, Gabor Gurbacs, the director of digital asset initiatives at investment management firm VanEck, also vying for a...Read More
Several firms have recently reduced their proposed fees, as revealed in the latest versions of their S-1 forms submitted to the U.S. Securities and Exchange Commission. This is in response to the ongoing industry competition, amplified by the anticipation surrounding the U.S. Securities and Exchange Commission’s (SEC) decision on spot Bitcoin ETFs. Spot Bitcoin ETF...Read More
The fake news originating from a compromised X (formerly Twitter) handle triggered significant volatility within the Bitcoin market, and the drama was even more bizarre than expected, according to Greeks.live, a popular crypto options trading platform. The sharp volatility resulted in a substantial increase in RV, while IV experienced a slight decrease. Leverage Unwinding The...Read More
At this point, spot Bitcoin ETF approvals are a foregone conclusion. It is not a matter of if but when the SEC will finally greenlight them; at least, this is what most experts believe. It could be any day now, Investors Business Daily reported Tuesday: “Regulatory approval of spot bitcoin ETFs is likely in the...Read More
On Jan. 9, the agency’s X account was compromised, and an announcement was made that spot Bitcoin ETFs have been approved. On Jan. 10, X Support confirmed that the account was hacked, stating: “We can confirm that the account @SECGov was compromised and we have completed a preliminary investigation.” It added that there was no...Read More
Fox Reporter Eleanor Terrett has recently highlighted a significant procedural aspect of the U.S. Securities and Exchange Commission (SEC) that could influence the fate of the much-anticipated spot Bitcoin Exchange-Traded Fund (ETF) approval. According to Terrett’s January 9th tweet, even though there is no scheduled commission vote on the Bitcoin ETF, each of the five...Read More
Jay Claton, the former chairman of the United States Securities and Exchange Commission (SEC), believes the agency’s approval of a spot Bitcoin exchange-traded fund (ETF) is inevitable. During an interview with CNBC, Clayton said nothing is left for the SEC to decide as the regulator is comfortable with the disclosures from ETFs’ applicants. “I think...Read More
The digital asset investment products experienced inflows of $2.25 billion throughout the entire 2023. This places it as the third-best year based on data dating back to 2017, with 2020 recording $6.6 billion and 2021 reaching $10.7 billion, according to the latest report by CoinShares. As such, the inflows for 2023 were 2.7 times higher...Read More
Crypto market participants are moving to the sidelines, leading to low activity in the derivatives market as the date for the U.S. Securities and Exchange Commission’s (SEC) decision on spot Bitcoin exchange-traded funds (ETF) approaches. According to a weekly report from market intelligence platform CryptoQuant, the decline in derivatives market activity is due to the...Read More
The Securities and Exchange Commission has been in the crypto community’s minds for the past few years, mainly due to the attacks it launched against numerous companies and projects. Now, though, the agency is expected to finally greenlight a spot Bitcoin ETF in the US after a decade of rejecting all proposals. ETF Next Week?...Read More
According to FOX Business, the U.S. Securities and Exchange Commission (SEC) is close to approving several spot Bitcoin exchange-traded funds (ETFs). In a series of pivotal meetings held with major stock exchanges, including the New York Stock Exchange (NYSE), Nasdaq, and Chicago Board Options Exchange (CBOE), the SEC is reportedly finalizing the review of applications...Read More
A group of former Citigroup Inc. executives, along with Franklin Templeton, BTIG, and Broadhaven Ventures, are set to offer securities backed by Bitcoin that they claim do not require approval from U.S. regulators. As the debate and anticipation surrounding the approval or denial of spot Bitcoin ETFs intensify, the executives’ efforts look at an alternative...Read More
Matrixport, a crypto-financial service platform, has been notably optimistic about the approval of a spot Bitcoin ETF this month. However, the firm’s recent report suggests a shift in sentiment, speculating that the US Securities and Exchange Commission (SEC) may reject any proposals in January. January Blues for Crypto? The growing anticipation within the crypto community...Read More
Earlier this year, the SEC’s crusade against cryptocurrencies seemed to be coming to a head after Judge Analisa Torres sided mostly in favor of Ripple, who ruled that XRP is, broadly speaking, not a security and that its purchase could only be considered an investment contract in certain circumstances. The two parties, however, are still...Read More
A U.S. circuit court in Washington D.C. has ordered the Securities and Exchange Commission to revisit its rejection of a Bitcoin ETF application by crypto hedge fund Grayscale. But that doesn’t mean the SEC won’t find new reasons to reject it or any of the dozen other applications. SEC Rejection or Delay Could Tank Bitcoin...Read More
Research conducted by Matrixport anticipates that the price of Bitcoin will surpass the $50,000 threshold in January 2024, provided that the approval of spot Bitcoin ETFs by the U.S. SEC becomes a reality. The firm predicts a 95% probability of spot Bitcoin ETF approval in January 2024. Matrixport Sees Bitcoin at $50K Matrixport’s research highlights...Read More
The United States Securities and Exchange Commission (SEC) has delayed its decision on whether to approve applications from several asset management firms for Ethereum exchange-traded funds (ETFs) till May 2024. According to several filings, the securities regulator has issued delay orders for Ethereum ETF applications from Ark Invest/21Shares, VanEck, and Hashdex. SEC Extends Deadline For...Read More
With a mere fortnight left in the year, Stuart Alderoty, the Chief Legal Officer of Ripple, has provided perspectives on what lies ahead for the cryptocurrency landscape in 2024. The exec has predicted setbacks for the US SEC and even a possible Supreme Court confrontation. Despite these bullish prognoses, Alderoty anticipates difficulties on the legislative...Read More
After consistently denying approval for a spot Bitcoin ETF for American investors over the years, there are indications that SEC chair Gary Gensler might be reconsidering his position in light of Grayscale’s legal triumph. While he has not explicitly acknowledged any change in stance, he admitted taking a new look at the approval process of...Read More
It’s nearly guaranteed that regulators will force Bitcoin (BTC) ETF applicants to adopt a “cash-create” model before launching their highly anticipated investment products, according to Bloomberg ETF analyst Eric Balchunas. The decision, if true, would have major implications for the cost of managing each fund – and by extension, the fees passed down to customers....Read More
Bitwise Asset Management has joined the list of companies aiming for a spot Bitcoin (BTC) Exchange Traded Fund (ETF) approval in the United States. The firm’s ETF has been officially listed on the Depository Trust and Clearing Corporation (DTCC) under the ticker BITB, signaling a growing optimism within the sector. Bitwise Optimistic Following Listing Bitwise’s...Read More
The US Securities and Exchange Commission (SEC) has extended its decision on whether to approve or disapprove a spot Ethereum exchange-traded fund (ETF) application by investment management company Invesco and crypto financial services firm Galaxy Digital. The SEC gave a 45-day extension, allowing itself until February 6, 2024, to make its decision on the product....Read More
With the United States struggling to bring about regulatory clarity for the crypto space, the ongoing discord between two pivotal watchdogs sparks concerns about potential implications. The head of the Commodities Futures Trading Commission (CFTC), Rostin Behnam, has once again indicated that most crypto assets are considered commodities according to existing laws. He also acknowledged...Read More
In the ongoing legal dispute between Binance Holdings and the U.S. Securities and Exchange Commission (SEC), the former has filed a new submission to the U.S. District Court for the District of Columbia. Binance, along with its former CEO Changpeng Zhao (CZ), asserts that the SEC’s reliance on its prior settlement with the U.S. Department...Read More
Conversations about launching spot Bitcoin exchange-traded funds (ETFs) in the United States have moved to advanced stages, Reuters reported Thursday, citing unnamed sources. According to the report, the U.S. Securities and Exchange Commission (SEC) has begun to ask potential spot Bitcoin ETF issuers detailed and technical questions about the products, a move the sources said indicated...Read More
After being at the center of the debacle that sent Terra and Luna spiralling to near absolute zero, former Terraform Labs CEO Do Kwon fled his home country of South Korea and disappeared off the map for a good several months. He did not, however, disappear off of Twitter, where he continued posting diatribes blaming...Read More
Bitcoin has gained recognition in the financial sector within two decades after its launch. This is evident in the increasing number of times the leading digital asset has been mentioned in official filings over the past years. According to recent research, the world’s largest cryptocurrency was mentioned in more than a thousand filings with the...Read More
Elon Musk – who was also one of the founders of OpenAI back in the day – has been working on xAI for a while now, a firm launching another chatbot named Grok whose selling point is being “quirky” and having access to the Twitter API in order to stay up to date with current...Read More
