Tag: Proshares
ProShares Wants You to Short Bitcoin Through Its New ETF
ProShares ETF’s BTC holdings touches ATH, but there are some warning signs
Acorns Adds Crypto to Portfolio Options
Investing app Acorns now enables users to invest in bitcoin. Users can invest up to 5% of their Acorns portfolio in the ProShares Bitcoin Strategy ETF. Acorns plans to add other cryptocurrencies in the future. Millennials have been crowding around crypto investing, and micro investment platform Acorns has taken notice. The California-based company launched an Read more...
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SEC Extends Window For WisdomTree BTC ETF Decision
How Is CME Shaping Bitcoin Futures?
Grayscale Could Convert The Bitcoin Trust to an ETF, Investors Firmly in Support
The U.S. Securities and Exchange Commission (SEC) has opened up a public discussion in regards to converting the Grayscale Bitcoin Trust (GBTC) into an exchange-traded fund (ETF) and the feedback is overwhelmingly in support. After years of not being able to get a spot Bitcoin ETF past regulators, the conversation has shifted to converting Grayscale’s […]
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Grayscale’s Spot Bitcoin ETF Approval Delayed Again by the SEC
The US SEC is Delaying a Decision on Grayscale’s Bitcoin ETF Application
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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US SEC once again reserves judgment on Grayscale’s Bitcoin ETF.
Global X Latest ETF Issuer to Test Out the Metaverse
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.
Fidelity Files with The SEC to Launch Metaverse ETFs
SEC Rejects Fidelity’s Spot Bitcoin ETF Proposal
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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