Bitcoin 

Wilshire Phoenix Refiles Its Bitcoin ETF Proposal With SEC

The United States Securities and Exchange Commission (SEC) has once again begun accepting public comments regarding the updated Bitcoin (BTC) exchange-traded fund (ETF) proposal by Wilshire Phoenix Fund. According to the official document published on Oct. 15, Wilshire Phoenix and exchange NYSE Arca have refiled and updated their application to reflect new circumstances. New and updated version Per the proposal, Coinbase Custody will act as a custodian of the trust’s Bitcoins. But unlike the first application, the updated version states that Coinbase will be confirming the availability of assets used…

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Ethereum 

Crypto Market Hardly Needs a Bitcoin ETF at This Time, Says BKCM CEO

Founder and CEO of crypto investment firm BKCM Brian Kelly has said that Bitcoin (BTC) exchange-traded funds (ETF) are hardly needed for the ecosystem’s development, given that the coin is already available on regulated platforms such as Fidelity and TD Ameritrade. Kelly made his remarks during an interview with CNBC published on Oct. 11, explaining:  “You have companies like Fidelity and TD Ameritrade starting to push into this space. So ultimately you’re going to be able to buy Bitcoin in a regular brokerage account, or it’s going to look like…

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Bitcoin 

Bitwise Will Refile Its Bitcoin ETF Application ‘as Soon as Appropriate’

Bitwise Asset Management and NYSE Arca have confirmed they will refile their application for a Bitcoin (BTC) exchange-traded fund (ETF) after the United States regulators rejected it. Bitwise: We intend to refile According to a press release published on Oct. 9, the companies said that while the U.S. Securities and Exchange Commission (SEC) refused their ETF application, they were buoyant about the progress. The verdict on Bitwise’s ETF proposal had seen multiple delays prior to this week’s final decision, which the SEC had no choice but to make, according to…

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Bitcoin 

‘Closer Than Ever’ to Bitcoin ETF, Says Bitwise Ahead of SEC Deadline

Executives at Bitwise Asset Management are highly optimistic as the deadline for the United States Securities and Exchange Commission’s (SEC) decision on their proposed Bitcoin (BTC) exchange-traded fund (ETF) looms on the horizon. Days ahead of the Oct. 13 deadline, an Oct. 7 CNBC report cites Matt Hougan, managing director and global head of research at Bitwise, saying: “We’re closer than we’ve ever been before to getting a Bitcoin ETF approved.” “No more ways to postpone it at this point” As Cointelegraph reported, Bitwise filed its latest application for a…

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Bitcoin 

CBOE Withdraws VanEck, SolidX Bitcoin ETF Proposal From SEC Review

The Chicago Board Options Exchange’s (CBOE) BZX Equity Exchange has withdrawn its proposal before the U.S Securities and Exchange Commission (SEC) VanEck/SolidX Bitcoin (BTC) exchange-traded fund (ETF). SEC faced Oct. 18 deadline On Sept. 17, the SEC published a notice that the CBOE had withdrawn its application for the VanEck/SolidX Bitcoin ETF on Sept.13. Although no reason was given, the decision to withdraw the proposal came just weeks after the firm began offering a limited Bitcoin ETF for institutions. The SEC had already delayed a decision on the matter, but…

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Bitcoin 

BNY Mellon to Act as Transfer Agent for Bitwise’s Proposed Bitcoin ETF

Bank of New York Mellon has been appointed to serve as transfer agent and administrator of  Bitwise Asset Management’s proposed Bitcoin (BTC) exchange-traded fund (ETF).  Bitwise amended the S-1 form that it submitted to the United States Securities and Exchange Commission (SEC) on Sept. 11. The amendment also lists major accounting firm Cohen & Company as auditor, while Boston-based legal firm Foreside Fund Services is listed as the Bitcoin ETF’s marketing agent.  Whether any of the aforementioned firms will act in their appointed regard depends on an eventual decision to…

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Bitcoin 

VanEck, SolidX to Offer Limited Bitcoin ETF for Institutions Via Exemption

Following another delay on Bitcoin exchange-traded funds (ETFs), asset managers VanEck and SolidX plan to offer a limited version of their Bitcoin ETF to institutional investors. VanEck Securities and SolidX Management want to start selling shares in a limited version of a Bitcoin ETF, using a rule that exempts the shares from securities registration, under which shares can be sold only to certain institutional investors, The Wall Street Journal reported on Sept. 3.  VanEck, SolidX Bitcoin ETF launching Sept. 5 According to the report, the investment management firms are planning…

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Bitcoin 

SEC Postpones Decision on Three Bitcoin ETF Rule Change Proposals

The United States Securities and Exchange Commission (SEC) has delayed its decision on three Bitcoin (BTC) exchange-traded fund (ETF) proposals. According to documents published on Aug. 12, the SEC has will put off a formal decision on proposed rules changes by NYSE Arca and Cboe BZX Exchange for three Bitcoin ETFs: by asset managers VanEck SolidX, Bitwise Asset Management, and Wilshire Phoenix. Source link

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Bitcoin 

Other Market Protections Needed Before Bitcoin ETF Approval

United States Securities and Exchange Commission (SEC) Chairman Jay Clayton said that the regulator needs to feel comfortable with cryptocurrency custody and ensure no market manipulation can take place before approving a crypto exchange-traded fund (ETF). Clayton made his remarks during an interview with CNBC on June 6. When Clayton was asked whether an ETF based on a bundle of cryptocurrencies could be released in the U.S., Clayton said that the SEC is currently working on making that possible. Still, he also noted that various issues have to be resolved…

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Bitcoin 

SEC Commissioner Hester Peirce Encourages Less Caution Toward ETF Innovation

Hester Peirce, commissioner at the United States securities regulator, has urged for a less cautious approach towards innovation in the exchange-traded funds (ETFs) space on the regulator’s part. The Financial Times reported on her remarks on June 2. Per the report, the Security and Exchange Commission’s (SEC) Peirce called on her co-commissioners to allow for innovation in the ETF space by lessening their caution. She reportedly commented on the SEC’s approach towards this category of highly regulated financial derivatives, noting that the SEC is “still smothering ETFs with personalised attention…

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