Illustration shows representations of cryptocurrency BitcoinWASHINGTON - Grayscale Investments on Tuesday urged the U.S. Securities and Exchange Commission to quickly approve its proposed exchange-traded fund that would track bitcoin, following the crypto asset manager's court victory against the agency.
The ruling requires the SEC to review Grayscale's application, although the agency still has time to appeal the court's decision. The SEC said last week that it was studying the ruling. A spot bitcoin ETF would give investors exposure to the world's largest cryptocurrency without having to own it. The SEC has denied all spot bitcoin ETF applications, saying applicants have not shown they can protect investors from market manipulation.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Coin Coin Latest News, Coin Coin Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
SEC has 'variety of options' to delay Grayscale bitcoin ETF: DACFP FounderGrayscale 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.'
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
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 »
Grayscale prods SEC to take action as bitcoin rally fadesA lawyer for the asset manager asked to meet with the SEC 'as soon as practical' to discuss 'the way forward' following a critical court decision that briefly lifted crypto markets.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
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.
Source: CryptoAmb - 🏆 22. / 68 Read more »
What's in store for the crypto market this SeptemberBitcoin prices (BTC-USD) are down more than 10% over the last month. Yahoo Finance Senior Reporter David Hollerith notes that September tends to be a heavier trading month for bitcoin than August. He also notes that the SEC's response to a judge's ruling on converting the Grayscale Bitcoin Trust (GBTC) to an ETF likely won't happen until October.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »