Bitcoin 

The SEC Does Not Want Crypto ETFs — What Will It Take to Get Approval?

October has been a busy month in the race to register the first crypto exchange-traded fund compliant with the requirements of United States regulators. Following the Chicago Board Options Exchange withdrawing its proposal for VanEck/SolidX Bitcoin ETF earlier in September, the ETF filing from Bitwise Asset Management and NYSE Arca was turned down by the Securities and Exchange Commission on Oct. 9. The regulatory authority remained unconvinced of the applicants’ ability to prevent manipulative practices to the extent required by a national securities exchange. For a brief moment, the only standing Bitcoin…

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Cryptocurrency 

Investors Reject Refund Amid SEC Hearing Delay

Telegram’s ongoing saga with the U.S. Securities and Exchange Commission isn’t ending anytime soon. After the regulatory body swooped in with a last minute restraining order, Telegram has been embroiled in an increasingly strenuous legal battle to get the Telegram Online Network (TON) over the line. The blistering pace at which the latest developments have occured shows no sign of slowing, with the court hearing pushed back to February 2020 and investors voting against a refund of up to 77% of their initial investment.  Since the hammer of the SEC…

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Bitcoin 

New Bitcoin ETF Proposal Filed With SEC by Gold Fund Veteran

Delaware-based asset manager Kryptoin Investment Advisors applied with the United States Securities and Exchange Commission (SEC) to launch a Bitcoin (BTC) Exchange Traded Fund (ETF) on Oct. 15. A Bitcoin ETF on the New York Stock Exchange According to the filing document published by the SEC, the Kryptoin Bitcoin ETF Trust is meant to be traded on the New York Stock Exchange Arca. Notably, the ETF product is designed: “[…] To provide exposure to bitcoin at a price that is reflective of the actual bitcoin market where investors can purchase…

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Bitcoin 

Wilshire Phoenix Refiles Its Bitcoin ETF Proposal With SEC

The United States Securities and Exchange Commission (SEC) has once again begun accepting public comments regarding the updated Bitcoin (BTC) exchange-traded fund (ETF) proposal by Wilshire Phoenix Fund. According to the official document published on Oct. 15, Wilshire Phoenix and exchange NYSE Arca have refiled and updated their application to reflect new circumstances. New and updated version Per the proposal, Coinbase Custody will act as a custodian of the trust’s Bitcoins. But unlike the first application, the updated version states that Coinbase will be confirming the availability of assets used…

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Bitcoin 

‘Closer Than Ever’ to Bitcoin ETF, Says Bitwise Ahead of SEC Deadline

Executives at Bitwise Asset Management are highly optimistic as the deadline for the United States Securities and Exchange Commission’s (SEC) decision on their proposed Bitcoin (BTC) exchange-traded fund (ETF) looms on the horizon. Days ahead of the Oct. 13 deadline, an Oct. 7 CNBC report cites Matt Hougan, managing director and global head of research at Bitwise, saying: “We’re closer than we’ve ever been before to getting a Bitcoin ETF approved.” “No more ways to postpone it at this point” As Cointelegraph reported, Bitwise filed its latest application for a…

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Bitcoin 

Investment Firm Files Prospectus for New BTC Futures Fund With US SEC

Investment management company Stone Ridge is trying to register a new Bitcoin (BTC) futures offering with the United States Securities and Exchange Commission (SEC). The new fund is called NYDIG Bitcoin Strategy Fund and describes itself as “a non-diversified, closed-end management investment company that continuously offers its shares,” with an investment objective to achieve capital appreciation by investing in BTC futures contracts, according to an Oct. 2 filing. Cash-settled BTC futures only Detailing its investment strategy, the company noted that the fund will only invest in cash-settled BTC futures traded…

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Cryptocurrency 

KIK Closes Messenger and Lays off Staff to Continue SEC Lawsuit Fight

Messaging giant Kik has been embattled in a fierce exchange with the United States Securities and Exchange Commission (SEC) over the last year for a token fundraising run in late 2017. The latest news, confirmed by Kik CEO Ted Livingston, reports that the firm will shut down the Kik app and reduce its staff down to around 10% of the current headcount. According to Livingston, this move is a direct result of the SEC Lawsuit as the company is being drained of its funds. History of the Lawsuit Kik ran…

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Bitcoin 

SEC Begins Proceedings on Wilshire Phoenix Bitcoin Exchange-Traded Fund

The United States Securities and Exchange Commission (SEC) has initiated proceedings regarding the Wilshire Phoenix Bitcoin (BTC) exchange-traded fund (ETF) proposal. According to a Sept. 24 public filing, the SEC started proceedings to determine whether to approve or disapprove the proposed rule change, which would allow NYSE Arca to list and trade shares of Wilshire Phoenix’s Bitcoin and Treasury Investment Trust. Public comments In today’s filing, the SEC notes that it had invited the public to share its comments which were due 21 days from when the order was published…

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Bitcoin 

CBOE Withdraws VanEck, SolidX Bitcoin ETF Proposal From SEC Review

The Chicago Board Options Exchange’s (CBOE) BZX Equity Exchange has withdrawn its proposal before the U.S Securities and Exchange Commission (SEC) VanEck/SolidX Bitcoin (BTC) exchange-traded fund (ETF). SEC faced Oct. 18 deadline On Sept. 17, the SEC published a notice that the CBOE had withdrawn its application for the VanEck/SolidX Bitcoin ETF on Sept.13. Although no reason was given, the decision to withdraw the proposal came just weeks after the firm began offering a limited Bitcoin ETF for institutions. The SEC had already delayed a decision on the matter, but…

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