The Securities and Exchange Commission (SEC) has reportedly rejected several requests from asset managers to launch bitcoin exchange-traded funds (ETFs). According to sources who shared the information with the Wall Street Journal on Friday, the agency described the requests as neither clear enough nor comprehensive.
Specifically, the Securities and Exchange Commission (SEC) has commented on filings by Nasdaq and Cboe Global Markets on behalf of asset managers BlackRock and Fidelity, sources familiar with the matter told the publication.
The number of asset managers seeking approvals to list Bitcoin ETFs has increased recently since the regulator has rejected similar applications in the past. According to the SEC, these funds are vulnerable to fraud and market manipulation.
Recent filings, especially by Wall Street giants, have renewed hopes among investors that the SEC may soften its stance and approve the first ETF in the United States. However, there has been a record amount of money going 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 certain: Bitcoin has changed the world. No one can remain indifferent to this revolutionary and decentralized digital asset nor to its blockchain technology. In fact, we’ve come a long way since Florida resident Laszlo Hanicks made the first official BTC transaction with a real company by trading 10,000 BTC for 2 pizzas at a local Papa John’s.
While some may still wonder what Bitcoin is, who created Bitcoin, or how Bitcoin works, one thing is certain: Bitcoin has changed the world. No one can remain indifferent to this revolutionary and decentralized digital asset nor to its blockchain technology. In fact, we’ve come a long way since Florida resident Laszlo Hanicks made the first official BTC transaction with a real company by trading 10,000 BTC for 2 pizzas at a local Papa John’s.
Read this term ETF Strategy (BITO).
Finance Magnates reported that in the week ending June 25, BITO recorded the largest amount of investments with $65.3 million. In addition, on Friday of the same week, the fund traded 500 million shares, which has happened only five times since its launch. The data also showed a shift in investor behavior as investments flowed from the Bitcoin cash market to the ETF market.
BlackRock leads the pack
The situation was triggered when BlackRock placed an order for a Bitcoin ETF on June 16th. In the app, the world’s leading asset manager indicated that it will use the CME CF Bitcoin benchmark to track Bitcoin prices. Several other asset managers followed suit, making similar requests to the regulator.
In a separate report from Finance Magnates, Invesco and WisdomTree sought regulatory approvals to launch their own Bitcoin ETFs. Headquartered in Atlanta, Georgia, Invesco is an asset management company with an Asset Management (AUM) of $1.4 trillion. The company initially attempted to launch a Bitcoin ETF in 2021 in partnership with Galaxy Digital but was unsuccessful.
On the other hand, WisdomTree, a major US ETF provider with AUM of $83 billion, plans to list an ETF dubbed the WisdomTree Bitcoin Trust. Given the approval of the regulator, the fund will be listed on Cboe BZX exchange
exchange
An exchange is known as a market that supports the trading of derivatives, commodities, securities and other financial instruments, the exchange can generally be accessed through a digital platform or sometimes at a physical address where investors organize to perform trading. Among the main responsibilities of the stock exchange is to support honest and fair trading practices. These are useful in ensuring that the distribution of subsidized security rates on this exchange is effective
An exchange is known as a market that supports the trading of derivatives, commodities, securities and other financial instruments, the exchange can generally be accessed through a digital platform or sometimes at a physical address where investors organize to perform trading. Among the main responsibilities of the stock exchange is to support honest and fair trading practices. These are useful in ensuring that the distribution of subsidized security rates on this exchange is effective
Read this term Under the symbol BTCW.
The Securities and Exchange Commission (SEC) has reportedly rejected several requests from asset managers to launch bitcoin exchange-traded funds (ETFs). According to sources who shared the information with the Wall Street Journal on Friday, the agency described the requests as neither clear enough nor comprehensive.
Specifically, the Securities and Exchange Commission (SEC) has commented on filings by Nasdaq and Cboe Global Markets on behalf of asset managers BlackRock and Fidelity, sources familiar with the matter told the publication.
The number of asset managers seeking approvals to list Bitcoin ETFs has increased recently since the regulator has rejected similar applications in the past. According to the SEC, these funds are vulnerable to fraud and market manipulation.
Recent filings, especially by Wall Street giants, have renewed hopes among investors that the SEC may soften its stance and approve the first ETF in the United States. However, there has been a record amount of money going 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 certain: Bitcoin has changed the world. No one can remain indifferent to this revolutionary and decentralized digital asset nor to its blockchain technology. In fact, we’ve come a long way since Florida resident Laszlo Hanicks made the first official BTC transaction with a real company by trading 10,000 BTC for 2 pizzas at a local Papa John’s.
While some may still wonder what Bitcoin is, who created Bitcoin, or how Bitcoin works, one thing is certain: Bitcoin has changed the world. No one can remain indifferent to this revolutionary and decentralized digital asset nor to its blockchain technology. In fact, we’ve come a long way since Florida resident Laszlo Hanicks made the first official BTC transaction with a real company by trading 10,000 BTC for 2 pizzas at a local Papa John’s.
Read this term ETF Strategy (BITO).
Finance Magnates reported that in the week ending June 25, BITO recorded the largest amount of investments with $65.3 million. In addition, on Friday of the same week, the fund traded 500 million shares, which has happened only five times since its launch. The data also showed a shift in investor behavior as investments flowed from the Bitcoin cash market to the ETF market.
BlackRock leads the pack
The situation was triggered when BlackRock placed an order for a Bitcoin ETF on June 16th. In the app, the world’s leading asset manager indicated that it will use the CME CF Bitcoin benchmark to track Bitcoin prices. Several other asset managers followed suit, making similar requests to the regulator.
In a separate report from Finance Magnates, Invesco and WisdomTree sought regulatory approvals to launch their own Bitcoin ETFs. Headquartered in Atlanta, Georgia, Invesco is an asset management company with an Asset Management (AUM) of $1.4 trillion. The company initially attempted to launch a Bitcoin ETF in 2021 in partnership with Galaxy Digital but was unsuccessful.
On the other hand, WisdomTree, a major US ETF provider with AUM of $83 billion, plans to list an ETF dubbed the WisdomTree Bitcoin Trust. Given the approval of the regulator, the fund will be listed on Cboe BZX exchange
exchange
An exchange is known as a market that supports the trading of derivatives, commodities, securities and other financial instruments, the exchange can generally be accessed through a digital platform or sometimes at a physical address where investors organize to perform trading. Among the main responsibilities of the stock exchange is to support honest and fair trading practices. These are useful in ensuring that the distribution of subsidized security rates on this exchange is effective
An exchange is known as a market that supports the trading of derivatives, commodities, securities and other financial instruments, the exchange can generally be accessed through a digital platform or sometimes at a physical address where investors organize to perform trading. Among the main responsibilities of the stock exchange is to support honest and fair trading practices. These are useful in ensuring that the distribution of subsidized security rates on this exchange is effective
Read this term Under the symbol BTCW.