SEC Financial News

In an unexpected turn of events, Bitwise has submitted a request to retract its application for the Bitcoin and Ethereum Market Cap Strategy Ethereum Futures Contracts (ETF), initially filed with the Securities and Exchange Commission (SEC) on Aug. 3.

Bitcoin investors may be in for a rollercoaster ride. While history shows September is typically a bumpy month for Bitcoin, two ETF analysts have suggested investors turn their gaze to mid-October as the next “major days to watch.”

In less than a day, Bitcoin (BTC) has shed nearly all the gains it made from Grayscale Investment's court victory against the United States Securities regulator.

The Securities and Exchange Commission delayed making a decision again on whether to approve the first U.S. exchange-traded fund that invests directly in bitcoin, disappointing advocates just days after a court ruling that was viewed by many as clearing a path for the long-awaited product. 

The United States Securities and Exchange Commission (SEC) has postponed its decisions on 3 applications for spot Bitcoin (BTC) exchange-traded funds, or ETFs. 

Vivek Ramaswamy, a Republican Presidential candidate, commended Grayscale's recent legal victory against the federal securities regulator, stating that the decision would play a role in retaining Bitcoin and blockchain innovation within the United States rather than abroad.

A digital asset company called Prometheum Ember Capital LLC has recently gained attention for being named the first Special Purpose Broker-Dealer (SPBD) for digital assets. Republican members of the House Financial Services Committee have expressed reservations about this decision, leading them to  ask   the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) for explanation.

The Bitcoin Cash price has moved to $218.93 today, marking a 1% gain in 24 hours and a 15% rise in a week.

The bulls have not favored Fantom (FTM) and Cardano (ADA), as both saw a drop in prices on weekly charts. Yet, Everlodge attracts an impressive amount in its presale. Fantom (FTM) is one of the leading DeFi services.

Digital asset lawyer Jeremy McLaughlin has expressed optimism on a re-ignition of the United States cryptocurrency market following landmark wins recorded by Ripple and Grayscale over the Securities and Exchange Commission (SEC). 

The price of Litecoin (LTC) has remained stable in the past 24 hours, with its current level of $67.70 representing a 3% gain in the past week.

Grayscale Investments to create a spot bitcoin exchange-traded fund, a federal appeals court ruled on Tuesday, in a landmark victory for the asset manager that could pave the way for the first product of its kind. A panel of judges in the District of Columbia Court of Appeals in Washington said the securities regulator's denial of Grayscale's proposal was arbitrary and capricious because the SEC failed to explain its different treatment between bitcoin futures ETFs and spot bitcoin ETFs. The price of bitcoin, the world's largest cryptocurrency, was last up 5.75% at $27,609 following the decision. The ruling could be a boon for bitcoin, as a spot bitcoin ETF would provide investors the opportunity to gain exposure to the digital asset without having to purchase bitcoin via a retail exchange or custody the asset in a separate crypto wallet.

Meanwhile, the global cryptocurrency market cap was trading lower, around $1.09 trillion, falling 0.78% in the last 24 hours. The crypto market has traded sideways with downward pressure in the last 24 hours. Investor sentiment, however, continued to climb and jumped 3 points since yesterday; currently in the neutral zone with a score of 52/100, said Shubham Hudda, Senior Manager, CoinSwitch Markets Desk. «BTC seems to have lost the momentum it had gained after Grayscale’s historic win against the SEC. However, analysts predict a 75% chance that Bitcoin ETFs will get approval this year. The SEC is also expected to rule on the ETF applications submitted by other players like BlackRock, Fidelity, Invesco, and WisdomTree, this week,» Shubham said.

Crypto exchange Binance has encouraged users to start converting their Binance USD (BUSD) stablecoin holdings into a newly listed stablecoin amid plans to wind down support for BUSD. 

Bitcoin maintained a trading level of $27,280 on Thursday, experiencing a slight decrease of less than 1%. The market's momentum shifted due to a favorable judgment in Grayscale Investments' Bitcoin ETF lawsuit against the US Securities and Exchange Commission (SEC). 

There are hopes that the United States could see a new crypto resurgence after several rulings this year have seen court judges “rein in the SEC,” according to a digital asset lawyer from K&L Gates.

Tesla's use of company funds on a secret project described internally as a house for Chief Executive Elon Musk, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. Neither Musk nor a spokesman for the U.S. Attorney's office in Manhattan, which the Journal said was carrying out the probe, immediately responded to requests for comment.

United States presidential candidate Vivek Ramaswamy has lauded Grayscale’s recent victory over the federal securities regulator, arguing the decision will help keep Bitcoin and blockchain innovation from going overseas.

Bloomberg analysts have raised the probability for an approved spot Bitcoin exchange-traded fund (ETF) by the end of 2023, following a recent Grayscale victory against the federal securities regulator.

Elon Musk, Reuters reported Wednesday citing a Wall Street Journal report. Earlier, the WSJ had reported in July that Tesla board members had investigated whether company resources were misused on the effort.

​​Welcome to the latest edition of Cointelegraph’s Nifty Newsletter. Keep reading to stay up-to-date with the latest stories on nonfungible tokens. Every Wednesday, the Nifty Newsletter informs and inspires you to dig deeper into the latest NFT trends and insights.