The Securities and Exchange Commission (SEC) has reportedly rejected recent requests from various asset managers to launch Bitcoin (BTC) exchange-traded funds (ETFs). According to sources who have shared information with The Wall Street Journal On Friday, the agency called the applications neither sufficiently clear nor complete.
Specifically, the SEC commented on the filings by Nasdaq and Cboe Global Markets on behalf of asset managers BlackRock and Fidelity, the sources familiar with the matter told the publication.
The number of asset managers requesting permission to list spot Bitcoin ETFs has recently increased despite the regulator denying similar requests in the past. According to the SEC, these funds are vulnerable to fraud and market manipulation.
Recent filings, particularly by Wall Street giants, have revived investor hopes that the SEC might soften its stance and approve the first Bitcoin ETF in the United States. Nonetheless, a record amount of funds flowed into existing ETFs, including ProShares Bitcoin
Bitcoin
While some may still wonder what Bitcoin is, who created Bitcoin, or how Bitcoin works, one thing is for sure: Bitcoin changed the world. No one can remain indifferent to this revolutionary and decentralized digital asset and its blockchain technology. In fact, we’ve come a long way since Florida resident Laszlo Hanyecz made the first official BTC trading transaction with a real business by trading 10,000 Bitcoin for 2 pizzas at his local Papa John’s. We could now say that
While some may still wonder what Bitcoin is, who created Bitcoin, or how Bitcoin works, one thing is for sure: Bitcoin changed the world. No one can remain indifferent to this revolutionary and decentralized digital asset and its blockchain technology. In fact, we’ve come a long way since Florida resident Laszlo Hanyecz made the first official BTC trading transaction with a real business by trading 10,000 Bitcoin for 2 pizzas at his local Papa John’s. We could now say that
Read this term Strategy ETF (BITO).
finance tycoons
reported that for the week ending June 25, BITO registered the highest amount of investments worth $65.3 million. Additionally, on Friday of the same week, the fund traded 500 million shares, which has only happened five times since its launch. The data further showed a shift in investor behavior where investments shifted from the Bitcoin spot market to the ETF market.
BlackRock leads the pack
The situation was triggered when BlackRock submitted an application for a spot Bitcoin ETF on June 16. In the request, the leading global asset manager indicated that it will use the Bitcoin CME CF Benchmark Rate to track Bitcoin prices. Several other asset managers followed suit, submitting similar demands to the regulator.
In a separate report, finance tycoons reported that Invesco and WisdomTree had sought similar regulatory approval to launch their spot Bitcoin ETFs. Based in Atlanta, Georgia, Invesco is an asset management firm with assets under management (AUM) worth $1.4 trillion. The company initially attempted to launch a spot bitcoin ETF in 2021 in partnership with Galaxy Digital, but was unsuccessful.
On the other hand, WisdomTree, one of the leading ETF providers in the US with an AUM of $83 billion, plans to list an ETF dubbed WisdomTree Bitcoin Trust. With regulator approval, the fund will be listed on Cboe BZX Exchange
Exchange
A stock exchange is known as a market that supports the trading of derivatives, commodities, securities, and other financial instruments. Typically, a stock exchange is accessible through a digital platform or sometimes at a tangible address where investors arrange to transact. One of the primary responsibilities of an exchange would be to maintain honest and fair trading practices. These are essential to ensure that the distribution of supported security rates on this exchange is effective.
A stock exchange is known as a market that supports the trading of derivatives, commodities, securities, and other financial instruments. Typically, a stock exchange is accessible through a digital platform or sometimes at a tangible address where investors arrange to transact. One of the primary responsibilities of an exchange would be to maintain honest and fair trading practices. These are essential to ensure that the distribution of supported security rates on this exchange is effective.
Read this term under the symbol BTCW.
The Securities and Exchange Commission (SEC) has reportedly rejected recent requests from various asset managers to launch Bitcoin (BTC) exchange-traded funds (ETFs). According to sources who have shared information with The Wall Street Journal On Friday, the agency called the applications neither sufficiently clear nor complete.
Specifically, the SEC commented on the filings by Nasdaq and Cboe Global Markets on behalf of asset managers BlackRock and Fidelity, the sources familiar with the matter told the publication.
The number of asset managers requesting permission to list spot Bitcoin ETFs has recently increased despite the regulator denying similar requests in the past. According to the SEC, these funds are vulnerable to fraud and market manipulation.
Recent filings, particularly by Wall Street giants, have revived investor hopes that the SEC might soften its stance and approve the first Bitcoin ETF in the United States. Nonetheless, a record amount of funds flowed into existing ETFs, including ProShares Bitcoin
Bitcoin
While some may still wonder what Bitcoin is, who created Bitcoin, or how Bitcoin works, one thing is for sure: Bitcoin changed the world. No one can remain indifferent to this revolutionary and decentralized digital asset and its blockchain technology. In fact, we’ve come a long way since Florida resident Laszlo Hanyecz made the first official BTC trading transaction with a real business by trading 10,000 Bitcoin for 2 pizzas at his local Papa John’s. We could now say that
While some may still wonder what Bitcoin is, who created Bitcoin, or how Bitcoin works, one thing is for sure: Bitcoin changed the world. No one can remain indifferent to this revolutionary and decentralized digital asset and its blockchain technology. In fact, we’ve come a long way since Florida resident Laszlo Hanyecz made the first official BTC trading transaction with a real business by trading 10,000 Bitcoin for 2 pizzas at his local Papa John’s. We could now say that
Read this term Strategy ETF (BITO).
finance tycoons
reported that for the week ending June 25, BITO registered the highest amount of investments worth $65.3 million. Additionally, on Friday of the same week, the fund traded 500 million shares, which has only happened five times since its launch. The data further showed a shift in investor behavior where investments shifted from the Bitcoin spot market to the ETF market.
BlackRock leads the pack
The situation was triggered when BlackRock submitted an application for a spot Bitcoin ETF on June 16. In the request, the leading global asset manager indicated that it will use the Bitcoin CME CF Benchmark Rate to track Bitcoin prices. Several other asset managers followed suit, submitting similar demands to the regulator.
In a separate report, finance tycoons reported that Invesco and WisdomTree had sought similar regulatory approval to launch their spot Bitcoin ETFs. Based in Atlanta, Georgia, Invesco is an asset management firm with assets under management (AUM) worth $1.4 trillion. The company initially attempted to launch a spot bitcoin ETF in 2021 in partnership with Galaxy Digital, but was unsuccessful.
On the other hand, WisdomTree, one of the leading ETF providers in the US with an AUM of $83 billion, plans to list an ETF dubbed WisdomTree Bitcoin Trust. With regulator approval, the fund will be listed on Cboe BZX Exchange
Exchange
A stock exchange is known as a market that supports the trading of derivatives, commodities, securities, and other financial instruments. Typically, a stock exchange is accessible through a digital platform or sometimes at a tangible address where investors arrange to transact. One of the primary responsibilities of an exchange would be to maintain honest and fair trading practices. These are essential to ensure that the distribution of supported security rates on this exchange is effective.
A stock exchange is known as a market that supports the trading of derivatives, commodities, securities, and other financial instruments. Typically, a stock exchange is accessible through a digital platform or sometimes at a tangible address where investors arrange to transact. One of the primary responsibilities of an exchange would be to maintain honest and fair trading practices. These are essential to ensure that the distribution of supported security rates on this exchange is effective.
Read this term under the symbol BTCW.
