NYSE Arca Exchange has proposed a revised application for Bitwise’s Bitcoin exchange-traded fund (ETF) Trust, addressing SEC’s concerns about Bitcoin spot ETFs. Bitwise postulates a strong correlation between Bitcoin futures and spot prices, and argues that a surge in spot Bitcoin ETF wouldn’t significantly distort CME futures market prices.
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Court Orders SEC Reevaluation: Grayscale’s Path to Bitcoin ETF Conversion
“A federal court has directed the U.S. Securities and Exchange Commission to reconsider its dismissal of Grayscale Investments’ bid to convert its Bitcoin Trust into a bitcoin exchange-traded fund. Although the conversion could potentially eliminate GBTC’s discount completely, there are hurdles and complexities in this fluctuating financial landscape.”
VanEck vs BlackRock: Unraveling the Bitcoin ETF Approval Race and SEC Scrutiny
VanEck recently revised its Bitcoin ETF bid to address SEC concerns and urged the regulator to treat all filings equally. The race for the first-mover advantage in the Bitcoin ETF space has intensified, with firms like BlackRock, Bitwise, WisdomTree, Invesco, and Valkyrie joining the fray.
The Quest for a US Bitcoin Spot ETF: Resilience Amid SEC Rejections and Renewed Hope
Since 2013, the crypto community has pursued elusive spot Bitcoin ETFs. Interest in Bitcoin ETFs has grown globally, with Canada, Brazil, and Dubai embracing them. Despite numerous rejections, the industry remains optimistic, and BlackRock’s recent application has spurred other major companies to apply for Bitcoin spot ETFs, suggesting market resilience and potential for a U.S. Bitcoin ETF.
Crucial Role of Surveillance-Sharing Agreements in Bitcoin ETF Approvals: Pros and Cons
Surveillance-sharing agreements are crucial in evaluating proposed bitcoin ETFs to prevent fraud and manipulation. Exchanges must demonstrate such agreements with regulated markets related to the underlying bitcoin assets. However, adequate surveillance systems remain unestablished, and regulatory bodies remain cautious in approving ETF proposals.
Valkyrie Bitcoin Fund: Bridging Traditional and Crypto Finance – Pros, Cons, and Conflicts
Valkyrie Digital Assets updated its filing for the Valkyrie Bitcoin Fund, aiming to provide investors an affordable way to invest in Bitcoin. The fund would reflect the price of CME CF Bitcoin Reference Rate – New York Variant (BRRNY). Valkyrie’s potential success hinges on overcoming regulatory challenges and market sentiment.