Bitcoin ETF

The District of Columbia Court of Appeals has marked a date for when Grayscale and the Securities and Exchange Commission (SEC) may present oral arguments regarding the approval of a Bitcoin spot ETF.  Each side will present its case at 9:30 am ET on March 7, with the SEC arguing against the product, and Grayscale arguing in favor.  Grayscale VS SEC The court date – revealed in a court order filed on Monday according to CNBC – is much earlier…

Grayscale CEO Michael Sonnhenshein spoke to Fox Business on Wednesday about his fund’s rejected Bitcoin ETF application. Though he believes that Grayscale is receiving unfair treatment, he denies regulators having a larger agenda to suppress Bitcoin. During the interview, host Charles Payne asked if Sonnhenshein thought there were “underlying reasons” for its hesitancy to approve an ETF. In a similar vein, he asked whether the CEO viewed Bitcoin as a “threat” to the establishment. To the contrary, Sonnhenshein believes that…

Grayscale has failed to convince the Securities and Exchange Commission (SEC) to accept its spot Bitcoin ETF application. Following months of negotiations and campaigning to kindly persuade regulators, the fund will now take legal action against the commission. Why the Rejection? According to the SEC’s filing on Wednesday, Grayscale failed to prove that its product could protect investors, or prevent market manipulation. “As the Commission has explained, an exchange that lists bitcoin-based ETPs12 can meet its obligations…  by demonstrating that…

Grayscale – the world’s largest Bitcoin fund – will see its Bitcoin Spot ETF application approved or denied by next week. Ahead of the Security and Exchange Commission (SEC)’s decision, CEO Michael Sonnenshein has issued a reflection letter to investors. He details the progress they’ve made with the transition, including thousands of SEC-directed letters from investors encouraging its acceptance. A Drawn-Out Battle In his letter shared on Monday, the CEO reminds investors that GBTC was designed to be an ETF…

Grayscale CEO Michael Sonnenshein believes it's only a matter of time before a Bitcoin spot ETF gets permission in the United States. He recently claimed that there may be grounds for a lawsuit against the commission if they don’t. A Matter of ‘When’ Speaking with CNBC last week, Sonnenshein explained why a recent futures ETF approval spells optimism for an upcoming spot variant. The SEC greenlighted the  Teucrium Bitcoin Futures ETF earlier this month, which was filed under the Securities…

The SEC has not crushed VanEck’s hopes of expanding indirect exposure to the crypto industry. Following a failed attempt at a spot Bitcoin ETF, the fund manager has filed for a fund linking to digital asset mining companies. The ETF will be 80% invested in securities from crypto mining businesses. Exposure To The Mining Industry According to VanEck’s application with the SEC yesterday, the mining companies included must generate at least 50% of their revenues from mining activity. Furthermore, the…

On October 19th, 2021, the first Bitcoin US Bitcoin ETF launched on the New York Stock Exchange. This was a long-awaited event for the crypto community, which viewed it as a significant milestone for the industry. The debut was hyper-successful, too. The ETF generated over $800 million in trading volume within just a day. It was the NYSE's second most lucrative stock market debut ever, behind Black Rock’s carbon fund. Why the enthusiasm? What is a Bitcoin ETF, and what…

While the SEC hesitates to approve anything beyond a Bitcoin Futures ETF, Canada has moved leagues ahead on crypto acceptance. Yesterday, Purpose Investments launched another pair of series for its Bitcoin and Ethereum ETFs in the country. Notably, these variants have a structure that specifically help their cryptocurrencies achieve net-zero carbon output. Green Bitcoin and Ethereum ETFs Purpose Investments announced their new exchange products in a press release on Tuesday in partnership with Technologies. Their carbon-neutral series of Bitcoin and…

The Australian Securities and Investments Commission (ASIC) just released new guidelines on establishing crypto ETPs in the country. Alongside numerous regulatory requirements, the commission is tentatively permitting Bitcoin and Ethereum backed spot ETFs to launch. Incredibly, they are also willing to evaluate other cryptocurrency's suitability as underlying assets for such products. Australia's Approach to Crypto ETFs ASIC revealed its openness to digital asset ETFs in response to the crypto industry earlier today. This was a follow-up to the commission's consultation paper…