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Fox News reports that BlackRock is confident that the SEC will approve its Spot Bitcoin ETF by January. Fox Business Network’s Charles Gasparino shared the report today. The news comes after the $9 trillion asset management firm registered for an Ethereum Trust in Delaware. JUST IN: BlackRock is confident the SEC will approve its Spot #Bitcoin ETF by January, Fox News reports. — Watcher.Guru (@WatcherGuru) November 9, 2023 BlackRock has been one of many financial institutions seeking to bring the first Spot Bitcoin ETF to the US. It is one of the most highly publicized pending applications along with Grayscale. The SEC still holds multiple different Bitcoin ETF applications, however, BlackRock is reportedly certain that its application will be clear to move forward by January 2024. Upon approval, it’s not certain what a timeline will look like for the institution’s ETF to take effect. Source: CryptoSlate Also Read: BlackRock Registers Eth...

While unlikely, Bloomberg’s ETF analysts conceded that there’s always a possibility that SEC Chair Gary Gensler could be waiting until the last moment to deny the flurry of pending spot Bitcoin ETF applications. There’s a slim chance the United States Securities and Exchange chief Gary Gensler could pull the plug on spot Bitcoin (BTC) exchange-traded funds in one “amazingly sadistic” move, according to Bloomberg ETF analysts .  In an Oct. 31 tweet directed at senior Bloomberg ETF analysts James Seyffart and Eric Balchunas, ETF commentator Dave Nadig posed whether Gensler may be allowing for spot Bitcoin ETF applications to pile up just to deny them all at once in a “semi-comedic rug-pull.” “I'm sure it will be much more boring than this -- but sometimes it does feel like this is all a setup for a giant Gensler semi-comedic rug-pull,” said Nadig. I'm sure it will be much more boring than this -- but sometimes it does feel like this is all a setup for a giant Gensler semi-comed...

SEC commissioners Hester Peirce and Mark Uyeda described the NFT sales as a "common phenomenon" in the world of creators. The United States Securities and Exchange Commission (SEC) charging nonfungible token (NFT) project Stoner Cats sparked feedback from commissioners Hester Peirce and Mark Uyeda, arguing that the project’s activity constitutes fan crowdfunding , which they believe is common for artists.  On Sept. 13, the SEC charged Stoner Cats 2 LLC, the firm behind the animated series dubbed “Stoner Cats,” with conducting an unregistered crypto- securities offering using NFTs. Stoner Cats 2 LLC agreed to a cease-and-desist order and other imposed measures by the commission. Making its case, the SEC argued that the NFTs were marketed by the company as having potential for secondary sales and implied that their value would rise. In addition, the SEC pointed out that the company will receive a 2.5% royalty on every secondary sale. The SEC highlighted that the company sold...

Former SEC chief John Reed Stark has shared insights on the likelihood of the SEC approving recent applications for Bitcoin spot ETFs, highlighting intriguing factors influencing the decision. In a recent tweet, Stark referenced the Analysis from experts at BetterMarkets, who presented their perspective in SEC Comment Letters on August 8, 2023. The Analysis was regarding proposed rule changes for spot bitcoin-based exchange-traded products. Will the SEC Approve Any Of The Recent Bitcoin Spot ETF Applications? People often ask for my opinion on whether the SEC will approve any of the recent spate of bitcoin spot ETF applications, which is an interesting and important question. My take is that the current SEC will… pic.twitter.com/lPXebl03Y4 — John Reed Stark (@JohnReedStark) August 13, 2023 Stark says the current SEC may not approve a Bitcoin spot ETF According to Stark, the current SEC may not approve a Bitcoin spot ETF application due to various compelling...

The SEC wants to appeal two rulings by US District Judge Analisa Torres in the landmark case SEC v. Ripple. In her highly anticipated ruling, Torres agreed with the SEC that Ripple’s $728 million worth of institutional sales of XRP were illegal. However, Torres denied the SEC’s allegation that Ripple’s $1.3 billion of programmatic sales of XRP plus other distributions were illegal. The SEC wants to appeal these two denials. Citing “controlling questions of law on which there is substantial ground for differences of opinion” that affect a litany of other lawsuits, commissioners have requested interlocutory review to a higher court, the US Second Circuit. The SEC wants a higher court to overrule Torres. If Torres grants the commissioners’ request, she will pause litigation and not publish final judgments while interlocutory (and subsequent appellate) reviews of her rulings proceed. In short, most XRP transactions might still be securities transactions.  In contrast to the oft-...

Even with a price correction to $29,000, several Bitcoin price metrics show traders casting bets on a quick rebound. On July 24, Bitcoin (BTC) experienced a flash crash, plummeting to $29,000 in a movement now attributed to significant BTC holders potentially liquidating their positions.  Amidst the crash and market uncertainty, Bitcoin's three major trading metrics continue to project a bullish outlook, signifying that professional traders have not reduced their leverage longs through the use of margin and derivatives. Analytics firm Glassnode reported a surge in whales' inflow to exchanges, reaching its highest level in over three years at 41% of the total. This forceful sell-off from whales alarmed investors, especially in light of the absence of any significant negative events impacting Bitcoin in the past month. Notably, a major concern stems from the ongoing court cases by the U.S. Securities and Exchange Commission (SEC) against leading exchanges, Binance and Coinbase....

XRP price rallied in excess of 100% after Ripple’s victory last week, but do fundamentals support a move to $1 and beyond? XRP (XRP) price booked an incredible 100% gain on the same day as the landmark ruling in the XRP securities case, but buyers are now struggling to hold on to these gains.  The price surge came after judge Analisa Torres of District Court of the Southern District of New York ordered that XRP sale to retail investors does not qualify the token as a security in the U.S. Securities and Exchange Commission’s (SEC) case against Ripple. While the trading interest in XRP is reviving, the technical and network usage data hint at a short-term pullback. Traders flock to XRP but network growth stalls According to Coinglass data, the open interest volume for XRP futures contracts, which represents the total value of open bets for the asset, surged to its highest point since November 2021, reaching $1.19 billion on July 20. XRP future open interest volume. Source: Coinglass X...

Celsius Network, which filed for bankruptcy in 2022, is selling its crypto holdings as the broader market recovers, partly due to Ripple’s win against the US Securities and Exchange Commission (SEC). Data provided by Lookonchain shows that Celsius has already sold roughly $23.5 million worth of cryptocurrencies — including $8.5 million of chainlink (LINK), $7.84 million of synthetix (SNX), $3 million of BNB, $2.26 million from 1inch (1INCH), and $1.9 million worth of ox protocol (ZRX).  Notice that #Celsius started selling altcoins. 1.27M $LINK ($8.5M), 2.83M $SNX ($7.84M), 12,597 $BNB ($3M), 4.45M 1INCH ($2.26M), 8.53M $ZRX ($1.9M), and 439K $FTX ($713K) were transferred to #FalconX. And 186,149 $BONE ($235K) was deposited into #OKEx.https://t.co/Auf2S9Z2Z5 pic.twitter.com/Dbznr0w3Le — Lookonchain (@lookonchain) July 17, 2023 Moreover, screenshots shared by the data provider also suggest that Celsius has deposited almost 439,000 FTT, worth $713,000, to FalconX. I...

Grayscale GBTC Trust conversion to an ETF will unlock a potential sale of up to $18 billion in Bitcoin. The introduction of a spot-based Bitcoin (BTC) exchange-traded fund (ETF) would make the asset more accessible to individual investors and mutual funds. What's more, unlike a futures-based Bitcoin ETF, a spot-based ETF involves actually buying BTC. So will the approval of the first Bitcoin ETF be a bullish event? Not necessarily. GBTC 'discount' remains in the double digits  Over the years, the U.S. Securities and Exchange Commission (SEC) has rejected every Bitcoin ETF applicant, and the latest denial was issued to VanEck Bitcoin Trust on March 10, 2023. The SEC concluded that the offer did not have a "comprehensive surveillance-sharing agreement with a regulated market of significant size related to spot Bitcoin." Regulators are hesitant to release what many believe would be a more equitable and transparent Bitcoin product.  Investors now question whether the...

The tweet from Grewal contained the screenshot of a portion of the documents that highlighted a “regulatory gap” in which an asset can be excused from being tagged as a security if there’s no controlling entity to hold onto in the case of a decentralized entity and is still required to register to fulfill an obligation to protect investors. advertisement Grewal noted that the clause underpinning the regulatory gap is what the trading platform had been telling the US SEC, Congress and the Third Circuit Court respectively. John Deaton, known for his insightful commentary on the case noted that the regulatory gap can help the fair notice defense on the part of Coinbase, Ripple and other digital currencies the SEC might be going after. The Hinman emails help @coinbase, #ETH and @Ripple’s fair notice defense. How much it helps anyone in a courtroom is yet to be seen. But in the Court of Public Opinion and in Congress, the emails should help dri...

The recent motion from the SEC to freeze BinanceUS assets may cause the exchange to halt trading for Bitcoin, Shiba Inu, and other assets indefinitely. The US Securities and Exchange Commission (SEC) has filed a  motion  to temporarily freeze the assets of BinanceUS, the American affiliate of the world’s largest exchange, Binance. If approved by the court, this motion may lead to a suspension of trading activities involving Bitcoin (BTC), Shiba Inu (SHIB), and other assets. The motion comes after the SEC  charged Binance and its CEO, Changpeng “CZ” Zhao, with violations of security laws, including an allegation that the company misrepresented trading regulations on BinanceUS.  The temporary restraining order (TRO) and preliminary injunction motion aim to prohibit BinanceUS  from transferring funds or assets to Binance, CZ, or any affiliated entity. The SEC argues that such transfers would pose an imminent threat of irreversible damage to investors. Binan...

Hamilton said the newly discovered SEC emails might hurt the commission’s case against Ripple. Matt Hamilton, former Director of Developer Relations at Ripple , has taken to Twitter to react to the latest discovery of an internal SEC email. Notably, the document suggests that XRP does not satisfy all prongs of the Howey test. In a recent tweet, Hamilton noted that the latest discovery looks “pretty bad” for the United States Securities and Exchange Commission. Hamilton made this known in response to a question about his take. Looks pretty bad for the SEC’s case. — Matt Hamilton (@HammerToe) May 21, 2023 Hamilton Says SEC Might Win According to Hamilton, while most XRP community members know that the recent finding does not bode well for the SEC, the commission could win the lawsuit against Ripple. “In our hearts, we all knew this, but alas, that doesn’t reflect the vagaries of the US regulatory and legal system. We could still be right, but the SEC could still...

The Web3 wallet allows institutions to control which employees are allowed to use the tokens held within it. Securities token platform INX has launched a wallet with compliance features for institutions, according to a May 3 announcement. The new wallet was created in partnership with wallet infrastructure provider BitGo and uses multi-party computation (MPC) technology. Exciting announcement! INX now collaborates with @BitGo to enable institutional #investors to fully and confidently participate in the #security #tokens market and the greater digital economy: ️https://t.co/AbpdS86lYk — INX (@INX_Group) May 3, 2023 INX securities tokens exist on the Ethereum network and follow the ERC-1404 token standard. The standard was created in 2018 to allow for compliance-friendly Ethereum tokens. These tokens can only be transferred between users that have passed identity verification with a participating institution. The new wallet allows institutions to comply with cybersecurity and cu...

SEC vs. Ripple is a well-known dispute that has been going on for more than two years. The SEC charged Ripple with marketing XRP as a sec urity, burdening XRP’s potential for long-term price growth. It is one of the most well-known court battles in the history of cryptocurrencies and a crucial development for industry regulatory worries. A crucial summary decision in the case of Ripple v. SEC is imminent, and fresh developments could change the outcome. Also read: 31% of Crypto Novices Making Mistakes by Following Friends, Advisor Warns Amidst this, there have been some issues going on between cryptocurrency exchange Coinbase and the SEC after the latter filed a Wells notice with the exchange. Coinbase has recently responded to the Wells Notice and XRP supporter and lawyer Bill Morgan has something to say about it. The fact Coinbase delisted (ceased allowing trading) of XRP can hurt its fair notice defense to a claim by the SEC. In its Wells Notice response, t...

The past few weeks have seen the financial sec tor riddled with news of Gary Gensler’s undeniable crusade against the digital asset industry. Yet, amidst the SEC’s best efforts, Bitcoin (BTC) is proof of crypto’s resilience. Understandably, the price for all digital assets has fallen in recent weeks. Yet, with the industry falling below $1 trillion in market cap for the first time in a while, the performance of the most prominent cryptocurrency is viable evidence as to why Operation ChokePoint 2.0 may be no match for the industry’s current state. Regulators Target Crypto Source: Pensions & Investments There can be a very little argument made to US regulators attempting to silence crypto as an industry. Forbes’ own Clem Chambers said it perfectly regarding the SEC’s view of crypto. They are content on “at least driving it underground or at best crushing it into a pocket of confounded, regulated to death nice financial service.” ...