Spot bitcoin Financial News

Hong Kong on Tuesday launched trading of Asia's first spot bitcoin and ether exchange-traded funds (ETFs), moving forward in the city's race to become a regional virtual asset investment hub. The debut comes three months after the United States gave the greenlight to ETFs pegged to bitcoin's spot price, making it easier for mainstream investors to add the unit to their portfolio.

Merrill Lynch has been offering spot bitcoin exchange-traded funds to eligible wealth management clients, a source familiar with the matter said on Thursday, highlighting the growing popularity of the asset class. The ETFs have been available to clients for weeks, the source told Reuters, coming on the heels of the Securities and Exchange Commission's (SEC) landmark approval of such investment vehicles in January.

Grayscale Investments on Tuesday urged the U.S. Securities and Exchange Commission (SEC) to quickly approve its proposed exchange-traded fund that would track bitcoin, following the crypto asset manager's court victory against the agency. A three-judge panel of the District of Columbia Court of Appeals in Washington last week ruled that the SEC was wrong to reject Grayscale's proposed bitcoin ETF without explaining its reasoning, in a case that has been closely watched by the industry and which briefly boosted the price of bitcoin nearly 7%. The ruling requires the SEC to review Grayscale's application, although the agency still has time to appeal the court's decision. The SEC said last week that it was studying the ruling. «We hope you will agree that the best use of resources now is for the (SEC) to issue an order approving» the product, Grayscale's law firm DavisPolk wrote in a letter which was filed with the SEC on Tuesday.

Crypto asset manager Grayscale’s legal team has sent a letter to the US Securities Exchange Commission (SEC) asking the agency to move ahead with its proposed Spot Bitcoin BTF and meet its staff as soon as practical. 

The potential of a spot Bitcoin (BTC) exchange-traded fund (ETF) approval to drive prices up is dramatically underestimated by the crypto market, claim analysts from crypto research firm K33 — formerly Arcane Research. 

The Spot Bitcoin ETF delay leads one prominent New York corporate regulatory lawyer, and a Special Professor of Law at Hofstra Law School, to say, “Gary Gensler reminds me a little bit of Putin” in his attitude to crypto.

The US Securities and Exchange Commission (SEC) will likely be forced to approve multiple spot Bitcoin (BTC) exchange-traded fund (ETF) applications following the recent Grayscale victory. 

Following the United States Securities and Exchange Commission (SEC) delaying decisions on several spot Bitcoin exchange-traded funds, former commission chair Jay Clayton said he believed approval was still going to happen at some point.

You don’t have to want to invest in bitcoin to be in favour of United States regulators giving their approval to a bitcoin exchange-traded fund. You can disapprove of other people putting their money into the cryptocurrency, but defend the idea that the U.S. Securities and Exchange Commission (SEC) should let them. Perhaps not to the death — we don’t need to go all Voltaire about this — but you get the idea.

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

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.

Grayscale Investments is a big boost for the cryptocurrency industry's decade-long effort to launch an exchange-traded fund that tracks bitcoin, even if it does not immediately open the floodgates for such products. A three-judge panel of the District of Columbia Court of Appeals in Washington on Tuesday ruled that the Securities and Exchange Commission was wrong to reject Grayscale's proposed bitcoin ETF without explaining its reasoning, in a case that has been closely watched by the industry. The ruling requires the SEC to review Grayscale's application, meaning there is no certainty it will reach a different conclusion and greenlight the product. And the regulatory agency, which on Tuesday said it was studying the ruling, could appeal.

Well, now the SEC is in a real pickle. 

The SEC’s loss in court Tuesday means that the agency must go back and review Grayscale’s spot bitcoin ETF application — but don’t expect any products to come to market soon.

A federal judge has overturned the United States Securities and Exchange Commission’s decision to deny an exchange-traded fund (ETF) offering from Grayscale Investments through its Bitcoin (BTC) Trust, but many experts have pointed out the court ruling will not automatically lead to the first spot BTC ETF in the country.

Jacobi Asset Management has attached an ESG label to its Jacobi FT Wilshire Bitcoin ETF launched on the European market.

By Hannah Lang

SEC) wrongly rejected an application from crypto asset manager Grayscale Investments to list an exchange-traded fund that tracks the price of bitcoin. The case is being closely watched by the cryptocurrency and asset management industries, which have been trying for years to convince the SEC to approve a spot bitcoin ETF. They say it would allow investors to gain exposure to bitcoin, the world's largest cryptocurrency, without having to own it. The SEC, though, worries spot bitcoin ETFs will be vulnerable to manipulation.

By Hannah Lang

The first-ever spot Bitcoin exchange-traded fund (ETF) launched on the European market has been classed as an Article 8 fund by its issuer firm, London-based Jacobi Asset Management. Funds included under Article 8 of the European Sustainable Finance Disclosure Regulation (SDFR) are those that “promote environmental and/or social characteristics.” 

Crypto asset management company Hashdex has joined the competition for a spot Bitcoin (BTC) exchange-traded fund (ETF) in the United States. The firm has submitted an application to the U.S. Securities and Exchange Commission (SEC) for a Bitcoin futures ETF that will hold spot Bitcoin.