VanEck’s Bitcoin spot ETF shunt solidifies SEC’s outlook on crypto
The SEC rejecting VanEck’s spot ETF started a price reversal for Bitcoin as the regulator’s outlook on cryptocurrencies is revealed further. Bitcoin (BTC) has been on an impressive price run since the announcement of the United States Securities and Exchange Commission’s approval of ProShares’ Bitcoin futures exchange-traded fund (ETF) early in October, hitting a new all-time high of over $69,000 on Nov. 10, as per data from TradingView. However, the financial watchdogs soured the mood by rejecting VanEck’s proposal for a spot ETF on Nov. 12, which acted as a trigger for the price of the....
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Holding such ETFs in registered accounts can either entirely offset or reduce capital gains tax liabilities for Canadian customers. On Thursday, Fidelity Canada officially launched the Fidelity Advantage Bitcoin exchange-traded fund (ETF) and the Fidelity Advantage Bitcoin ETF Fund (mutual fund), marking the first such assets to be made available in the country and confirming earlier reports on the matter. The funds have the tickers FBTC and FBTC.U, denominated in Canadian and United States dollars, and are listed on the Toronto Stock Exchange. Fidelity's Bitcoin ETFs seek to track the....
A recent development around approving a Bitcoin spot Exchange Traded Fund (ETF) in the US saw crypto asset manager Bitwise taking a stand against the SEC’s reasons for not approving their spot Bitcoin (BTC) fund. Deciphering The “Mixed” Academic Record To strengthen its case, Bitwise submitted a review of academic literature regarding the Bitcoin futures […]
A letter to the secretary of the SEC outlines discrepancies in its rejection of Bitcoin spot ETFs and acceptance of Bitcoin futures ETFs. Grayscale Investments has fired back a the U.S. Securities and Exchange Commission (SEC) over the recent rejection of VanEck’s spot Bitcoin ETF application.The operator of the Grayscale Bitcoin Trust (GBTC) issued a letter to Secretary of the SEC, Vanessa Countryman, on Nov. 29 to argue the SEC is wrong to reject spot Bitcoin ETFs since it has now approved three Bitcoin futures ETFs, one each from VanEck, Valkyrie, and ProShares. Grayscale argues that....
The US crypto ETF market is bracing for a decisive stretch after the SEC’s approval of “generic listing standards” last week opened a streamlined path for spot XRP and Solana ETFs—alongside products beyond bitcoin and ether. With exchanges now able to list qualifying commodity-based ETPs without a bespoke 19b-4 approval, applicants for spot XRP and […]
The brief calls attention to the SEC’s continued denial of spot bitcoin ETF while the regulator simultaneously approves bitcoin futures products.