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SEC has 'variety of options' to delay Grayscale bitcoin ETF: DACFP Founder

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Grayscale was handed a victory in a federal appeals court last week with officials ruling the SEC to reconsider the crypto company's application to convert its bitcoin trust (GBTC) into an ETF. Digital Assets Council of Financial Professionals Founder Ric Edelman discusses the caution crypto bulls should have on this decision based on the SEC's ability to delay the review process. 'This is simply a vendetta by [SEC Chair] Gary Gensler, there's no legitimacy or justification for the denial of these ETF applications,' Edelman asserts. 'If the SEC can approve 2X inverse funds... [or] single stock ETFs, there's no justification for denying a bitcoin ETF especially since they've already said yes to bitcoin futures ETFs. Gensler is just basically expressing his own personal viewpoint.'

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The peso currency is now in the crosshairs of the country's dark horse presidential front-runner, libertarian radical Javier Milei, who has pledged to eventually scrap the central bank and dollarize the economy, Latin America's third largest. Milei - facing a tight three-way battle with traditional political candidates on the right and left ahead of an Oct. 22 vote - says savers like Barro underscore why Argentina should shed the peso.

 

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Bitcoin: Ex-SEC chairman remains optimistic about spot ETF approvalFormer SEC Chairman Jay Clayton is confident that the U.S. will eventually approve a spot Bitcoin exchange-traded fund (ETF) due to growing retail and institutional demand for Bitcoin access.
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Spot bitcoin ETF approval unlikely this year, says analystOn this week's episode of Yahoo Finance's The Crypto Mile, our host Brian McGleenon is joined by Lory Kehoe, a former director at Coinbase, the head of Blockchain Ireland, and an adjunct professor at Trinity College Dublin. Lory delves into Grayscale Investments' recent legal win in its pursuit of a spot bitcoin ETF. Just last week, a US Court of Appeals panel ruled that the SEC improperly rejected Grayscale's ETF application without providing an adequate explanation. With the US regulatory body now ordered to review its earlier decision, Lory discusses the ramifications of this pivotal ruling for the future of cryptocurrency investments, including the likelihood of a spot bitcoin ETF being approved in 2024.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »