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Join the Securities Litigation and Enforcement Group on LinkedInSEC Considers Approval of Carbon-Neutral Bitcoin ETF | Cadwalader Cabinet
The stated investment objective of the exchange-traded fund (“ETF”) is to track the performance of Bitcoin as measured by an index designed to reflect the performance of Bitcoin in U.S. dollars on a carbon-neutral basis. The ETF intends to offset the carbon footprint associated with Bitcoin once a quarter by paying for the instantaneous retirement […]
SEC Says Bah Humbug to Spot-Bitcoin ETFs With Latest Rejections – Bloomberg
The U.S. Securities and Exchange Commission said on Wednesday that the proposals from Valkyrie Investments and Kryptoin failed to meet requirements to prevent fraudulent and manipulative practices that are needed to protect investors. It allowed futures-backed Bitcoin ETFs to be offered in October. The earlier-than-expected decision from the SEC could suggest a 2022 approval for […]
Bitcoin (BTC) ETF: SEC’s Gary Gensler Signals Pathway With Tough Rules – Bloomberg
The SEC under Gensler and his predecessor Jay Clayton has repeatedly balked at green-lighting a crypto ETF, with the agency raising concerns over transparency and potential for manipulation in the Bitcoin cash market. Most pending ETF applications have been filed under 1930s laws that allow stock exchanges to list products. Gensler is hinting that he’d […]
A Bitcoin ETF Would Be Good for Investors and Regulators – Bloomberg
Some might say approving an ETF only further legitimizes an industry that we should be trying to contain. But the traditional approach to financial market regulation is to refrain from such judgments, and instead to require transparency and integrity in markets and let investors make their own decisions. So, if it’s unlikely that Congress will […]
Bitcoin, other crypto ETFs face another hurdle in the U.S. with the ‘Sunday effect’ | Fortune
Digital currency enthusiasts are anxiously awaiting a regulatory decision on crypto exchange-traded funds in the U.S.—but there’s a drawback American asset managers will face, regardless: market hours. ETFs, by definition, trade on exchanges, which are subject to workweek-hour trading restrictions. Cryptocurrencies, on the other hand, can be bought and sold at all hours of the […]
Asset management giant Fidelity files for a bitcoin ETF
A new filing with the U.S. Securities and Exchange Commission indicates that asset management giant Fidelity is seeking to create a bitcoin exchange-traded fund (ETF). The Wise Origin Bitcoin ETF is the latest entrant in a growing race to launch a bitcoin exchange-traded product in the United States. According to the filing, a firm called […]
NYDIG Files For Bitcoin ETF Approval | Nasdaq
Bitcoin-focused financial services firm New York Digital Investment Group (NYDIG) filed for approval to offer a bitcoin exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC) today. Source: NYDIG Files For Bitcoin ETF Approval | Nasdaq
SEC wants key upgrades in crypto markets before approving bitcoin ETF
Cryptocurrency enthusiasts have been eagerly awaiting the approval of what would be the first-ever bitcoin exchange-traded fund, or ETF. But the man largely behind greenlighting one — Securities and Exchange Commission Chairman Jay Clayton — has a few worries that need to be assuaged before he’s “comfortable” approving the investment vehicle. The first is a […]
U.S. securities regulator takes aim at exchange-traded funds | Reuters
The top U.S. securities regulator is taking aim at exchange-traded funds, with the agency’s chair on Friday saying that recent events have called for giving the popular funds “enhanced attention.” The statements by Mary Jo White, chair of the Securities and Exchange Commission, were the frankest warning yet that the agency could tighten regulation of […]