Bitwise updates spot Bitcoin ETF application with 40 pages of new material

2023-9-26 01:10

Bitwise has added new material to its application for a spot Bitcoin exchange-traded fund (ETF), the company’s CIO Matt Hougan said on Sept. 25.

Hougan suggested that if the U.S. Securities and Exchange Commission (SEC) ultimately does not approve a spot Bitcoin ETF following recent developments, applicants will need to prove their filings are satisfactory in certain regards.

He said that if the SEC does not approve an ETF:

“In short, we return to the status quo…We’re back to needing to prove that the CME bitcoin futures market leads price discovery over the spot market such that it can serve as a ‘regulated market of significant size’ for the purpose of surveillance.”

Hougan argued that existing spot Bitcoin ETF filings do not include substantively new arguments or research. Though several applications were recently updated to include a surveillance-sharing agreement with Coinbase, Hougan said that these additions might not meet regulatory requirements even if they are a positive step forward.

Hougan also said that Bitwise’s updated filing addresses past issues by providing more than 40 pages of new research and arguments. Though complex, Bitwise’s updated filing addresses disagreements and disapproval orders from the SEC, including matters related to price discovery and market manipulation.

Bitwise comments on Grayscale’s situation

In his announcement, Hougan acknowledged Grayscale’s attempts to convert its GBTC fund to an ETF. Hougan said that Grayscale’s recent legal victory has led other asset management firms to hope that the SEC will approve spot Bitcoin ETFs more broadly, but he admitted that the SEC could file an objection to Grayscale’s victory.

Furthermore, Bitwise’s ETF filing directly refers to Grayscale in one section that concerns how GBTC inflows are related to spot and futures Bitcoin prices. Bitwise maintained that differences between spot and futures prices do not render correlation analysis immaterial; it also cited comments from Grayscale’s court case in its argument.

Bitwise is one of several firms aiming to offer a spot Bitcoin ETF. Many of those firms filed applications after BlackRock submitted its own filing in June 2023.

Grayscale’s situation is somewhat different: its application originated in 2022 and concerns the conversion of an existing fund to an ETF rather than a new product.

The post Bitwise updates spot Bitcoin ETF application with 40 pages of new material appeared first on CryptoSlate.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

EthereumFog (ETF) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 0 ETF

etf bitcoin spot new application bitwise material

Источник: cryptoslate.com

etf bitcoin → Результатов: 126


Канадские биткойн-ETF сталкиваются с оттоком инвестиций, поскольку инвесторы обращаются к фондам США

Инвесторы переходят от канадских биткойн-ETF к американским аналогам, при этом в Purpose Bitcoin ETF наблюдается значительное сокращение активов. Последние данные показывают , что канадские держатели биржевых фондов биткойнов (ETF) перемещают свои инвестиции, при этом зафиксирован значительный отток средств из Purpose Bitcoin ETF.

2024-2-27 23:08


Some New Coins After ETF Approval Had Nothing to Do With Bitcoin

Markets have always been forward-looking, and the Bitcoin (BTC) Spot ETF was a classic example. Most of the highest gaining coins after the ETF approval had nothing to do with Bitcoin. Observing altcoins like Xai (XAI), Ethereum Classic (ETC), Ethereum Name Service (ENS), and Galaxy Fox (GFOX) may offer some insights as to where the … Continued The post Some New Coins After ETF Approval Had Nothing to Do With Bitcoin appeared first on BeInCrypto.

2024-1-18 11:30


VanEck исключит из листинга Bitcoin Strategy ETF

Решение об удалении акций VanEck Bitcoin Strategy ETF было принято примерно через неделю после того, как фирма получила одобрение SEC на листинг акций своего спотового Bitcoin ETF. Фирма по управлению активами VanEck объявила, что планирует закрыть и ликвидировать свой биржевой фонд стратегии биткойнов ( BTC ) менее чем через два года после его запуска.

2024-1-18 00:01


The Real Reason Behind Matrixport’s Dire Bitcoin ETF Predictions

Earlier today, Matrixport published a report predicting that the SEC would reject all Bitcoin ETF applications in January, causing Bitcoin’s price to plunge 9% within an hour. However, well-respected ETF analysts James Seyffart and Eric Balchunas from Bloomberg have countered Matrixport’s justification, arguing that ETF approval is actually highly likely.

2024-1-3 16:30


Фото:

Purpose Bitcoin ETF holdings soar past 30k, topping $1 billion amid signs of rising institutional interest

Quick Take Overcoming previous setbacks, the Purpose Bitcoin ETF’s holdings recently surpassed a significant milestone of 30k Bitcoin, a first since the Luna collapse in June 2022. Furthermore, its assets under management (AUM) have exceeded the $1 billion mark, underscoring the ETF’s resilience in its 18-month recovery period.

2023-11-14 01:45


Фото:

Cathie Wood says ‘hopes are rising’ for spot Bitcoin ETF; Larry Fink addresses role of crypto in restless markets

Cathie Wood, the CEO and CIO of ARK Invest, commented on pending spot Bitcoin ETF applications during a CNBC interview on Oct. 16. As ARK Invest is one of several asset managers pursuing a spot Bitcoin ETF, Wood began by describing the current state of her company’s application, stating: “It was publicized and disclosed last […] The post Cathie Wood says ‘hopes are rising’ for spot Bitcoin ETF; Larry Fink addresses role of crypto in restless markets appeared first on CryptoSlate.

2023-10-17 01:50


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Arizona Senate proposes adding Bitcoin exposure to state pension funds

The Arizona State Senate passed a resolution to consider digital assets — specifically Bitcoin exposure — as potential investments for the state’s retirement systems. The 56th legislature — Senate Concurrent Resolution 1016 (SCR 1016) — proposes that the Arizona State Retirement System (ASRS) and the Public Safety Personnel Retirement System (PSPRS) examine the viability of […] The post Arizona Senate proposes adding Bitcoin exposure to state pension funds appeared first on CryptoSlate.

Reddit IPO filing reveals treasury exposure to Bitcoin, Ethereum

Social media giant Reddit has been quietly buying Bitcoin and Ethereum with some of its excess cash and holds an undisclosed amount of the two tokens in its treasury for investment purposes. The social media giant’s crypto exposure details were revealed in its initial public offering (IPO) prospectus, which was filed with the SEC on […] The post Reddit IPO filing reveals treasury exposure to Bitcoin, Ethereum appeared first on CryptoSlate.