US SEC accepts six spot bitcoin ETF proposals for review

Synopsis The SEC also formally acknowledged applications from Bitwise, VanEck, WisdomTree, Fidelity and Invesco for similar spot bitcoin ETFs, with those proposals appearing on the Federal Register Tuesday and Wednesday. Reuters The US Securities and Exchange Commission ( SEC ) has accepted applications to create spot bitcoin exchange-traded funds from six firms including BlackRock for review, the first step in the agency’s process for deciding whether or not to approve the latest round of proposals. The SEC also formally acknowledged applications from Bitwise, VanEck, WisdomTree, Fidelity and Invesco for similar spot bitcoin ETFs, with those proposals appearing on the Federal Register Tuesday and Wednesday.

The SEC has previously rejected dozens of spot bitcoin ETF applications, saying the proposals did not meet anti-fraud and investor protection standards. But Nasdaq — where BlackRock proposed to list its ETF — said earlier this month that it would address those concerns by working with Coinbase, the largest US-based crypto exchange, to police trading in the underlying bitcoin market. Similar filings from CBOE Global Markets also proposed a similar surveillance arrangement.

The first bitcoin futures ETF was approved in October 2021, helping send the volatile bitcoin to an all-time high of $69,000 in November 2021. Spot ETFs directly track the price of the cryptocurrency, while futures-based ETFs follow the price of bitcoin futures contracts. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories (Reporting by Hannah Lang in Washington; Editing by Andrea Ricci) Don’t miss out on ET Prime stories! Get your daily dose of business updates on WhatsApp.

click here! Wednesday, 19 Jul, 2023 Experience Your Economic Times Newspaper, The Digital Way! Read Complete Print Edition » Front Page Pure Politics Brands & Companies ET Markets More A Few Steps Forward at G20, but No Communiqué The meeting of the G20 finance ministers and central bank governors ended Tuesday without a joint communiqué due to divergence over references to the Ukraine war but the Indian hosts said there was strong support for and much progress made on all critical agenda items. India Inc Flagships Giving Older Chiefs More Time at Helm At 58, K Krithivasan is among the oldest executives to have taken up the top job at Tata Consultancy Services, the most-valued company at India’s most-valued conglomerate. Indians Join the US Party in Big Tech Stocks Indians have joined the US tech stock party.

Investors have more than doubled their allocations to global tech leaders in the past six months. Tesla, Amazon, Apple, Microsoft, Google, Facebook and Nvidia are among the top stocks traded on online platforms that enable Indians to invest in the US stock markets. Read More News on bitcoin ETF SEC U.

S. Securities and Exchange Commission (SEC) BlackRock Stay on top of technology and startup news that matters. Subscribe to our daily newsletter for the latest and must-read tech news, delivered straight to your inbox.

. . .

more less ETPrime stories of the day Markets Sidelining MSMEs, pricing power with corporates may not let inflation fall: Societe Generale’s Kundu 11 mins read Under the lens Making Blue Peace: How water is emerging as the new instrument in preventing conflicts. 7 mins read 3 insights to kick-start your day, featuring PharmEasy’s fundraise 4 mins read Subscribe to ETPrime.