SEC attorneys, for their part, have claimed that these documents contain staffer deliberations, and therefore are protected against discovery. District Judge Sarah Netburn, of the Southern District of New York, ruled that some of these documents are indeed protected, but ordered the regulator to turn over others, including an email with Hinman’s speech and some […]
Simplify Asset Management has filed an application with the U.S. Securities and Exchange Commission (SEC) for an exchange-traded fund (ETF) focused on Web 3. In a filing Wednesday, Simplify said the “Simplify Volt Web 3 ETF” would trade under the ticker symbol “WIII” and track Web 3 companies that are expected to benefit from technology […]
The U.S. Securities and Exchange Commission (SEC) rejected investment firm Kryptoin’s proposal for a spot bitcoin exchange-traded fund (ETF) in a letter on Wednesday. The decision comes roughly five weeks after the agency had rejected VanEck’s application for a spot bitcoin ETF. It was also not unexpected, as SEC Chair Gary Gensler has indicated his […]
Terraform Labs and its CEO, Do Kwon, are challenging the U.S. Securities and Exchange Commission (SEC), claiming the regulator improperly served Kwon subpoenas at Mainnet 2021 despite not having jurisdiction over Kwon or his company. They have asked a New York court to dismiss the subpoenas. Terraform filed a motion last Friday opposing an SEC […]
The U.S. Securities and Exchange Commission (SEC) is pushing out its review of proposals by Grayscale and Bitwise for their spot bitcoin exchange-traded funds (ETFs) by 45 days, according to filings around both products. Grayscale is owned by Digital Currency Group, which is the parent company of CoinDesk.
The government therefore needs to exploit its “head start,” Clayton argued, thanks to 95% of stablecoins being based on the U.S. dollar, meaning that it remains the preferred liquid store of value in digital asset markets. Clayton warned, however, that this could change.
Two bitcoin futures ETFs, the ProShares Bitcoin Strategy ETF (BITO) and the Valkyrie Bitcoin Strategy ETF (BTF), began trading in the U.S. in October, leading to a significant rally in the price of bitcoin. VanEck’s bitcoin futures ETF began trading in mid-November.
For a bitcoin ETF to win the day its issuer must establish what the SEC calls a “surveillance sharing agreement” with another major, compliance-minded market upon which the asset trades. It’s a simple argument, really. Any would-be manipulator would need to influence one market to reap gains on the other. If both those markets share […]
The investment firm VanEck’s bitcoin futures exchange-traded fund (ETF) is set to debut on the Chicago-based CBOE exchange next week, going live after delays since winning SEC approval in late October. The CBOE said in a notice on its website that the new VanEck Bitcoin Strategy Fund will start trading under the ticker symbol “XBTF” […]
The SEC rejected investment firm VanEck’s proposal for a spot bitcoin exchange-traded fund (ETF) on Friday. The decision was widely expected as SEC chair Gary Gensler has indicated his preference for a bitcoin futures ETF over a spot bitcoin ETF several times in the past. Two bitcoin futures ETFs, the ProShares Bitcoin Strategy ETF (BITO) […]