Fun

News Feed - 2023-08-11 11:08:18

Turner Wright9 hours agoSEC punts on ARK 21Shares spot Bitcoin ETF, opens proposal to commentsARK Investment Management founder and CEO Cathie Wood predicted on Aug. 7 the SEC would delay its decision on the firm’s spot BTC ETF application.8339 Total views35 Total sharesListen to article 0:00NewsJoin us on social networksThe United States Securities and Exchange Commission has delayed a decision on approving or disapproving the spot Bitcoin (BTC) exchange-traded fund (ETF) proposed by ARK Investment Management.


In an Aug. 11 notice, the SEC opened a 21-day comment period for the ARK 21Shares Bitcoin ETF to the public following publication in the Federal Register, the latest delay for the regulator determining whether to approve or disapprove of a spot crypto ETF in the United States. ARK originally filed to list the ETF in May, giving the SEC a maximum of 240 days — until January 2024 — to reach a final decision.


For a listing on the Cboe BZX Exchange — ARK Investment Management’s aim — an applicant must provide evidence of a “comprehensive surveillance-sharing agreement in place with a regulated market of significant size.” The SEC has previously rejected the firm’s crypto ETF proposals, claiming they would not be “designed to prevent fraudulent and manipulative acts and practices” or protect investors.


“The regulated market of significant size test does not require that the spot bitcoin market be regulated in order for the Commission to approve this proposal, and precedent makes clear that an underlying market for a spot commodity or currency being a regulated market would actually be an exception to the norm,” the SEC said on Aug. 11.


Cathie Wood, founder and CEO of ARK Investment Management, said in an Aug. 7 interview that she expected the SEC to delay its decision. However, she also predicted the commission could simultaneously approve multiple spot BTC ETFs at some point in the future.


Related:ETF analyst raises spot Bitcoin ETF approval chances in the US to 65%


ARK Investment Management is one of many firms in the U.S. applying to get a spot crypto ETF listed on a regulated exchange. BlackRock, the largest asset management firm in the world, notably sent in its own application in July. A number of firms also amended existing applications to include cryptocurrency exchange Coinbase as a surveillance-sharing partner following reports SEC officials could be more open to accepting a spot crypto ETF under those conditions.


As of Aug. 11, the SEC has not approved any spot crypto ETF application for listing shares in the U.S. but started allowing investment vehicles linked to BTC futures in October 2021. Grayscale is currently engaged in a legal battle with the SEC over the commission’s refusal to allow the listing of its Bitcoin trust as a spot Bitcoin ETF.


Magazine:Crypto regulation: Does SEC Chair Gary Gensler have the final say?# Bitcoin# Investments# SEC# ETF# United States# RegulationAdd reactionAdd reactionRelated NewsWhat are NFT royalties, and how do they work?BlackRock’s misguided effort to create ‘Crypto for Dummies’What will Bitcoin do if the Justice Department takes aim at Binance?

News Feed

Crypto Trader Capitalizes On Elon Musk’s X Name Change For 17,000% Return
Este artículo también está disponible en español. Elon Musk, billionaire entrepreneur and CEO of Tesla and SpaceX, has once again rattled the crypto market with a simple
Dubai Launching Crypto Valley in Tax-Free Zone – No Personal or Corporate Income Tax
Dubai Launching Crypto Valley in Tax-Free Zone – No Personal or Corporate Income Tax A Dubai government authority has announced that it is launching a crypto valley in the coun
Tom Mitchelhill8 hours agoNumber of Bitcoin millionaire wallets triples in 2023Over 81,000 wallet addresses now hold $1 million or more worth of Bitcoin.5329 Total views77 Total sharesListen to article 0:00NewsJoin us on
Derek Andersen2 hours agoKPMG touts ESG benefits from Bitcoin, counters misperceptions in new reportThe report compares Bitcoin energy usage to that of clothes dryers (equal) and its emissions to those of manure (much le
Ebay CEO Talks NFTs and Crypto, Exec Says Company Continues to ‘Evaluate Other Forms of Payments’
Ebay CEO Talks NFTs and Crypto, Exec Says Company Continues to "Evaluate Other Forms of Payments" The president and chief executive officer of Ebay, Jamie Iannone, discussed the po
Trump Admin Sanctions North Korean Hackers Behind Titanic Bitcoin Thefts
The Trump administration sanctioned North Korea"s Lazarus Group, which raked in $571 million from Bitcoin thefts. | Source: ShutterstockNorth Korea’s notorious state-sponsore
GameFi-NFT, Monopoly Millionaire Game, Will Be Pre-Released on May 25
GameFi-NFT, Monopoly Millionaire Game, Will Be Pre-Released on May 25 press release PRESS RELEASE.The gaming ecosystem has been at the forefront of the NFT and other blockchain inno
German Authorities Can’t Access Bitcoins Worth $65 Million ‘Seized’ From Hacker
German Authorities Can"t Access Bitcoins Worth $65 Million "Seized" From Hacker German authorities have been unable to gain access to more than 1,700 bitcoins be
Bitcoin miner CleanSpark plunges 10% after $800M share offering
Brayden Lindrea8 hours agoBitcoin miner CleanSpark plunges 10% after $800M share offeringWith a market capitalization of $4.2 billion, a $800 million stock offering would effectively dilute CLSK shares by 19%.8059 Total
South African Crypto Investors and Service Providers Told of Legal and Tax Implications of Central Bank’s Plan
South African Crypto Investors and Service Providers Told of Legal and Tax Implications of Central Bank"s Plan South African tax consultancy firm Tax Consulting SA, has said the re
Token release revision fails to halt Starknet’s declining activity
Yohan Yu9 hours agoToken release revision fails to halt Starknet’s declining activityOver a week into Starknet’s colossal airdrop event, daily active users and transaction count have returned to the baseline.621 Tota
Web3 Security Firm Certik Raises $88 Million in Series B3 Financing Round Led by Tiger Global and Others
Web3 Security Firm Certik Raises $88 Million in Series B3 Financing Round Led by Tiger Global and Others Certik, a Web3 and blockchain auditing and security firm, has raised $88 mi