Amended filings from Invesco, Bitwise, and Valkyrie and Galaxy Digital support in-cash ETF share redemptionsSome prospective spot Bitcoin ETF issuers are kowtowing to the...

The cryptocurrency markets are on the road to recovery after the bear market of 2021-22. Investor faith in top cryptos remains strong; in fact,...

Private Advisor Group LLC reduced its holdings in Coinbase Global by 19.8%. However, other institutional investors have been adding to their stakes in Coinbase....

Bitcoin lovers in the United States are getting impatient as the Securities and Exchange Commission (SEC) is not making a clear take on Bitcoin ETF. Due to concerns about manipulation, liquidity, and transparency, SEC has delayed deciding on Grayscale’s pending application to convert its Bitcoin Trust into a spot ETF. The SEC’s notice published on Friday didn’t reveal anything new about Grayscale’s pending application, which comes as no surprise. SEC Wants Written Submissions From People According to the 10-page notice, the SEC expressly requests ‘written comments’ from ‘interested people’ in the general public to provide their ‘ideas, statistics, and arguments’ addressing the regulator’s previous concerns about market fraud, manipulation, and overall lack of transparency. According to the notice, the public has 21 days from today, as specified in the Federal Register, to submit written data, views, and arguments on whether Grayscale’s application should be granted or denied, with a 35-day window for rebuttal. According to the notification, individuals interested in submitting comments to the SEC can do so either electronically or on paper.  The SEC has a History of Rejecting Spot ETF Applications Grayscale, the world’s largest digital asset management firm, applied in October to convert shares of its Grayscale Bitcoin Trust (GBTC) into a spot Bitcoin ETF, attempting to reverse previous rejections of BTC spot ETF applications by the regulator. Unfortunately, the SEC announced two months later that it would be delaying its decision on Grayscale’s application, citing major issues such as market fraud, manipulation, and transparency. According to a tweet, Grayscale has $36.5 billion in assets under management as of February 4th, with its GBTC product accounting for nearly 71% of total assets. The SEC also rejected Fidelity’s Wise Origin Bitcoin Trust at the end of January, just seven days after rejecting a spot bitcoin ETF proposal from First Trust and SkyBridge Capital. Surprisingly, in rejecting Fidelity, the SEC went into great detail on surveillance-sharing agreements and the SEC’s responsibility to ensure that exchanges follow the Exchange Act’s requirements. It’s worth noting that the SEC approved ProShares Bitcoin Strategy ETF in October of that year, making it the first Bitcoin futures fund to be allowed in the US, followed by a pair of Strategy ETFs from Valkyrie and VanEck.

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The firm's filing comes a week after similar plans from fund titan Fidelity

The post Global X Latest ETF Issuer to Test Out the Metaverse appeared first on Blockworks.

The instruments, if accepted, will trade under the Fidelity Crypto Industry and Digital Payments ETF and the Fidelity Metaverse ETF tickers. 

The post Fidelity kickstarts process to list metaverse and crypto company ETFs appeared first on The Block.

The U.S. Securities and Exchange Commission (SEC) has rejected a Fidelity spot bitcoin exchange-traded fund (ETF), adding to a list of applications that have been denied. Fidelity’s proposal for the Wise Origin Bitcoin Trust was denied by the Securities and Exchange Commission on Thursday, just seven days after the SEC rejected an application for a spot bitcoin ETF filed by investment advisory firm First Trust and hedge fund SkyBridge Capital. Currently, SEC is preferring ETFs that track bitcoin futures. “While we are disappointed by the outcome of the SEC’s deliberations resulting in today’s disapproval order, we reaffirm our belief in market readiness for a physical bitcoin exchange-traded product and look forward to continued constructive dialogue with the SEC,” stated a Fidelity spokeswoman. In December, Krypton’s proposal to list a spot Bitcoin ETF was also rejected.  VanEck and WisdomTree’s plans for a spot bitcoin ETF were also denied. ProShares, which trades on the New York Stock Exchange, introduced the first-ever ETF backed by bitcoin futures in October. The VanEck Bitcoin Strategy ETF and the Valkyrie Bitcoin Strategy ETF have also been approved.

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Grayscale’s GBTC premium slid 30% to its all-time low as Bitcoin and the rest of the crypto market struggle with double-digit losses as we are reading more in today’s Bitcoin latest news. As the crypto market continues to fall in the past few days, Grayscale’s GBTC premium continued falling and reached a new all-time low. […]

Crypto prices haven’t been this low since early last summer.

The SEC is still not ready to approve a spot-based Bitcoin ETF in the United States, following the recent rejection of another such application.

The SEC rejected the spot Bitcoin application from Skybridge giving a plethora of reasons for their decision. The regulator had previously delayed giving a decision for the application that was first filed in May 2021. Despite the rejection, analysts remain bullish that a pure-play Bitcoin ETF is around the corner. The SEC remains a stumbling […]

January 21, 2022       /       Unchained Daily       /       Laura Shin Daily Bits ✍️✍️✍️ The Federal Reserve released its long-awaited report on stablecoins. The[...]

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