VIDEO The Commission has previously reviewed the rejection of a bitcoin ETF proposal filed by the family office of Tyler and Cameron Winklevoss , ultimately upholding the decision after more than a year. Get this delivered to your inbox, and more info about our products and services. The SEC is currently reviewing the application.
Limited Bitcoin ETF to institutions
Bitcoin etf review news Sept. 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 rview the matter, but was facing a final deadline of Oct. Bringing to market a physical, liquid and insured ETF remains a top priority. Cointelegraph recently reported that the CEO of investment management firm VanEck Associates, Jan Van Eck, said that the company was now offering a financial product with exposure to Bitcoin. The product offered by the firm is a broker-traded fund and is not currently available to the public, being reserved to institutional investors.
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The concept of a Bitcoin ETF has been dead in the water for years. Despite another rejection looming on the horizon, Bitwise is not giving up on this idea just yet. It is not the first time that the company wants to explore a Bitcoin ETF. Coinspeaker U. But does the market really need one and what are the mechanics behind ETFs, their distinctions from other types of funds and what are the implications for digital assets? With scandals emerging about email address breaches at BitMEX and malfunctions at Deribit, we have to be honest with ourselves: the industry is simply not mature enough for a Bitcoin ETF right now.
The cryptocurrency moved 1. Other coins also traded higher. Ethereum gained 1. Six out of the seven comments bitcoim SEC received strongly urged the regulator not to approve the proposal.
Another urged the SEC to take a ‘watch and wait approach’. Elsewhere, Switzerland approved a motion to adapt the current provisions on procedural instruments of judicial and administrative authorities to make them applicable to cryptocurrencies. Reviww move revjew believed to newz protect crypto users from illicit activities such as extortion and money laundering.
The legislation will look into how to stifle crypto-associated risks. It will also determine if entities operating crypto trading platforms should be equated with financial intermediaries and be subject to financial market supervision. We encourage you to bitcoon comments to engage with users, share your perspective and ask questions of authors and each.
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Herrmann says the Wilshire ETF has several mechanisms to address these concerns. Neither Peirce nor an SEC spokesperson immediately responded to emailed requests for comment. Get this delivered to your inbox, and more info about our products and services. Now, six of the 10 big crypto exchanges are regulated by the New York Department of State with market surveillance technologies in place. But in the last few years, the outlook for Bitwise’s proposal has improved significantly, Hougan said. But it should be a very exciting week. Read More. ETF Edge. The bitcoin etf review news rejecting the proposal will remain in effect until the review has concluded, the notice said, with the commissioners either upholding the staff rejection or overturning it. As part of the review, the general public can comment on the rejection through Dec. The Commission has previously reviewed the rejection of a bitcoin ETF proposal filed by the family office of Tyler and Cameron Winklevossultimately upholding the decision after more than a year. Markets Pre-Markets U. All Rights Reserved.
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