Bitcoin spot etf

The Securities and Exchange Commission rejected applications for Valkyrie and Kryptoin spot bitcoin ETFs on Wednesday, the latest blow to those hoping to finally get the financial products approved in the US. The securities regulator has yet to give the go-ahead for a US exchange-traded fund that invests directly in the cryptocurrency, pointing to concerns about fraud and manipulation. It said these failed to meet its investor protection requirements. Neither proposal meets its standard "designed to prevent fraudulent and manipulative acts and practices" and "to protect investors and the public interest," the SEC said in the rejection orders published Wednesday.

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Content:

• US SEC Further Delays Decisions on Grayscale-Backed Bitcoin ETF
• Why a Bitcoin ETF Might Be the Worst Way to Enter Crypto
• The Hitch With a Bitcoin Futures ETF
• What Are the Implications of the SEC’s Bitcoin Futures ETF Approval?
• The SEC has blocked Anthony Scaramucci's Bitcoin ETF
• SEC Rejects VanEck's Spot Bitcoin ETF over Fraud Fears

WATCH RELATED VIDEO: Politicians Want A Spot ETF For Bitcoin IMMEDIATELY

US SEC Further Delays Decisions on Grayscale-Backed Bitcoin ETF

However, the SEC did not approve the rule change, citing that it would not be conducive to its own attempts of protecting investors from fraud and manipulative practices. The SEC gave similar reasoning back then as well, claiming that the exchange had not provided enough evidence that it will be taking necessary measures to protect the public interest while preventing fraudulent activities. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Article source. The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision. Skip to main content. In a recently released filing, the SEC clarifies further on its decision to reject the proposal, "This order disapproves the proposed rule change.

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Why a Bitcoin ETF Might Be the Worst Way to Enter Crypto

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The Hitch With a Bitcoin Futures ETF

The US regulator said in a note that the application did not provide sufficient evidence about how it would prevent fraud. It gave the exact same reason for the earlier rejections. An exchange-traded fund, or ETF, is a publicly traded investment vehicle that tracks the value of an underlying asset. The regulatory body says it is concerned about possible price manipulation in the cryptocurrency market. Do you want to trade Bitcoin on one of the largest and most reliable exchanges in the world? The SEC has rejected six applications since November. According to Bloomberg data, nine are still pending a decision. The stocks in such ETFs do not represent Bitcoin as an underlying asset. Rather, they are contracts that bet on the future price of Bitcoin.

What Are the Implications of the SEC’s Bitcoin Futures ETF Approval?

The U. The proposal did not meet the standards designed to prevent fraudulent and manipulative practices and protect investors and the public interest, the regulator said. The action is the latest in a series of rejections by the market regulator to approve an ETF that tracks the underlying digital asset, including one from SkyBridge last week. The first bitcoin futures ETF was approved in October, sending the volatile bitcoin to an all-time high and raising hopes that a spot bitcoin ETF would soon be approved. Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc.

The SEC has blocked Anthony Scaramucci's Bitcoin ETF

Christopher Robbins. Christopher Robbins is a nationally recognized journalist who has been featured as a speaker and panelist on topics including investing, personal finance and wealth management. I know there are now a few options to invest in bitcoin futures via an exchange-traded fund ETF , and there are spot bitcoin ETFs available in Canada , but it seems like many financial advisors and writers are waiting with bated breath for a spot bitcoin ETF in the U. I think that a sizable cohort of ETF watchers is terribly misled — and even worse, is misleading others. Sign up here to receive it every Thursday. The truth is that advisors and investors already have what they need to get started in crypto today.

SEC Rejects VanEck's Spot Bitcoin ETF over Fraud Fears

Since then, there have been more futures ETF filings surrounding bitcoin and ethereum, as well as spot ETF filings which are yet to be approved despite being an investor favorite. Instead of clamoring with the rest of the market for a bitcoin spot ETF, the asset manager has gone with a blockchain tech ETF filing. Is YouTube Complicit? Although this ETF is focused on the crypto space and technologies associated with the industry, BlackRock does not intend to buy crypto or trade it directly. This is not the first that BlackRock had shown an interest in getting into the blockchain space. BlackRock is easily the largest asset manager in the world. The investment firm has also managed to sidestep the onslaught that is currently being witnessed in the financial markets.

It is instead linked to bitcoin BTC futures. So how does this impact bitcoin? How did it impact the market, and how are the markets likely to react in the future?

By Alexander Jones , International Banker. A nd so, after many years of failed attempts, the U. The fund does not invest directly in bitcoin. According to Michael L. Sapir, chief executive officer of the Bethesda, Maryland-based ProShares, a number of investors had been eagerly awaiting the launch of a bitcoin-linked ETF after years of efforts to introduce one.

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But lost in the mix here is the fact that, for most folks, Bitcoin futures are honestly a pretty second-rate way to get exposure to crypto. None of these are deal killers by any means, and when one of these Bitcoin futures ETFs launches, hundreds of millions of dollars will jump into the first movers. Times change.