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The exchange filed 19b-4 documents on Wednesday, formally kicking off a review process. Once the U.S. Securities and Exchange Commission (SEC) acknowledges the filings, it will start a 240-day clock for a final decision. The SEC will have a number of intermediary deadlines to make a decision, but has traditionally
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Amid the United States Securities and Exchange Commission (SEC) delaying a decision on Ark Investment Management’s spot Bitcoin (BTC) exchange-traded fund, the firm has proposed an investment vehicle with exposure to Ether (ETH).In a Sept. 6 filing, Ark Invest and 21Shares requested the SEC approve the listing of shares of
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The possibility of a Bitcoin spot Exchange Traded Fund (ETF) launching in the US, which has gained much attention over the past
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The Ark 21Shares Ethereum ETF is the first attempt to list such a fund in the U.S. that directly invests in ETH, the second largest cryptocurrency by market capitalization. Original Source
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Grayscale has told the Securities and Exchange Commission it has no legal reasoning left to block the conversion of the asset manager’s flagship Bitcoin (BTC) fund to a spot exchange-traded fund (ETF).On Sept. 5, Grayscale’s lawyers sent a letter to the SEC requesting the pair meet to discuss the next
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Still, current price levels – $25,720 at press time – provide a buying opportunity for investors with a longer time horizon, according to Lunde. “This is, by all accounts, a buyer’s market, and it’s reckless not to aggressively accumulate BTC at current levels,” he said. Source
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"After the Commission has had the opportunity to fully analyze the court’s opinion in light of the record, including the reasons for rejection set forth ... we believe the Commission should conclude that there are no grounds for treating the Trust differently from ETPs that invest in bitcoin futures contracts,"
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Should the SEC wish to challenge the federal judge's conclusions in the Grayscale decision, the company's application could simply be denied again for a different (or even an analogous) reason. That course of action becomes problematic quickly. The last thing any lawyer wants to do is upset a federal judge. That is
Read MoreThe crypto community has been kept at the edge of its seat as the SEC decided to postpone a decision on the
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