SEC receives applications to withdraw two separate Ether ETF proposals

SEC receives applications to withdraw two separate Ether ETF proposals
фото показано с : invezz.com

2021-8-22 11:24

The US SEC has gotten used to receiving and rejecting Bitcoin ETFs, as it simply believes that the time is not right for such products and that not a single proposal that it received so far is good enough to be approved. However, recently, it started receiving proposals for ETFs with exposure to Ether.

The twist came when, less than two days after it received two separate Ether ETF submissions — one from VanEck, and another from ProShares — both asset managers submitted applications to withdraw the proposals.

Both companies decided, seemingly with no correlation, not to proceed with their pursuit of the new exchange-traded funds exposed to Ethereum. Both companies filed their initial proposals this Wednesday, only to have them revoked by Friday. Both products were meant to provide exposure to ETH through investments in futures contracts, but also in pooled investment vehicles, and other exchange-traded products.

The reasons behind the withdrawals remain undisclosed

Neither of the two companies gave definitive reasons for making the decision, but they did point out that they did not sell any securities tied to the potential offering. The entire development seems rather unusual, although it is understandable why they were in such a rush to submit their proposals.

After all, Gary Gensler, the new SEC chair, stated earlier this month that the regulator would be more open to accepting exchange-traded funds proposals based on crypto futures than those with direct exposure to cryptocurrencies themselves. So, it is far more likely for the regulator to accept an ETF exposed to Ethereum futures than one exposed to ETH directly.

VanEck, which has been trying to get approval for a Bitcoin ETF for years now, already had both Bitcoin and Ether ETFs under review by the financial watchdog. However, the company decided to file yet another, separate prospectus for a so-called Bitcoin strategy ETF, which would be exposed to BTC futures contracts, following the SEC chair’s announcement.

The post SEC receives applications to withdraw two separate Ether ETF proposals appeared first on Invezz.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Goodomy (GOOD) на Currencies.ru

$ 0.0002667 (-0.99%)
Объем 24H $0
Изменеия 24h: -6.78 %, 7d: -19.37 %
Cегодня L: $0.0002667 - H: $0.0002749
Капитализация $165.511k Rank 99999
Доступно / Всего 620.509m GOOD

sec time such single good enough approved

sec time → Результатов: 126


Grayscale Confirms Liquidation of Its XRP Trust; Forced By SEC Legal Battle With Ripple

Grayscale has successfully sold off all XRP Investment Trust shares. The preemptive action is due to an industry-wide dissociation from XRP, following the SEC's suit. Grayscale Investments has confirmed its dissolution of all XRP holdings, marking yet another company dissociating itself from the embattled digital asset at a dire time.

2021-1-14 16:44


Crypto Exchanges Rush to Delist XRP Following SEC Charges

XRP has plunged since the charges came to light. The former third-ranked cryptocurrency by market cap dropped from around $0.52 on Monday to around $0.33 at the time of writing. Please note: In light of US Securities & Exchange Commission’s enforcement action against Ripple Labs & 2 of its executives, we have suspended all #XRP … Continued The post Crypto Exchanges Rush to Delist XRP Following SEC Charges appeared first on BeInCrypto.

2020-12-23 18:33


Фото:

Hester Peirce Interview: ‘The Crypto Community Has Helped the SEC’

The crypto community and the U.S. Securities and Exchange Commission (SEC) have not always seen eye to eye, but there is one relationship that is likely to stand the test of time. SEC Commissioner Hester Peirce, widely known as Crypto Mom, has been an ally to investors and entrepreneurs alike in the name of innovation […] The post Hester Peirce Interview: ‘The Crypto Community Has Helped the SEC’ appeared first on BeInCrypto.

2020-9-5 22:30


SEC Broadens its Accredited Investor Definition But Not By Much

The US Securities and Exchange Commission (SEC) has expanded the rules of the “Accredited Investor,” which dictates who can invest in private companies such as SpaceX. “For the first time, individuals will be permitted to participate in our private capital markets not only based on their income or net worth but also based on established, […] The post SEC Broadens its Accredited Investor Definition But Not By Much first appeared on BitcoinExchangeGuide.

2020-8-27 05:34


Фото:

Итоги недели в мире криптовалют и блокчейна: 11 – 15 ноября

Canaan активно готовится провести IPO на американской бирже, Facebook презентовала платежную систему, Telegram просит суд отклонить иски SEC, Китай готовится вливать огромные суммы в развитие блокчейна, Джастин Сан таки купил часть Poloniex, в рейтинг журнала TIME попал глава Coinbase, а в Украине чиновники майнили на мощностях «Укрзализныци».

2019-11-16 17:12


Veritaseum Files a Document with SEC Seeking More Time to Respond to the Levied Charges

Veritaseum, headed by the infamous Reginald Middleton, has requested the court for more time to respond to the charges filed by the SEC for allegedly offering unregulated securities. In the backdrop of ongoing court proceedings, the counsel for the defendants filed a document with the New York Eastern District Court to extend the initial date from […]

2019-11-1 01:57


Фото:

Crypto Tidbits: SEC Declares Bitcoin a Non-Security, Ethereum DeFi Gains Traction, PayPal Leaves Libra

Another week, another of Crypto Tidbits. After last week’s collapse, Bitcoin (BTC) took some time to settle, finding itself trading in the low-$8,000s for an extended period of time. Analysts are currently divided over what this consolidation means for the cryptocurrency market’s short-term future, with some even arguing that this is a precursor to another bear.

2019-10-6 21:00


SEC Publishes a New Proposal by Bitwise Regarding Bitcoin ETFs

The SEC or The United States Securities and Exchange Commission has recommended a proposal from Bitwise advocating why the time is ripe for the world’s first Bitcoin ETF (Exchange Traded Fund). This document by the San Francisco-based Bitwise was presented to SEC commissioners Robert Jackson, Hester Peirce, and Elad Roisman. Bitwise is a venture-backed Cryptocurrency […]

2019-9-20 19:46