Coinbase Advocates for Grayscale’s Ethereum ETF Approval
Coinbase supports Grayscale's Ether ETP, citing Ethereum's commodity status and market robustness, urging SEC approval for regulatory consistency.
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Coinbase supports Grayscale's Ether ETP, citing Ethereum's commodity status and market robustness, urging SEC approval for regulatory consistency.
Amid the Bitcoin ETF approval chaos, the SEC faces scrutiny over the mysteriously deleted approval tweet and alleged cybersecurity breach. Critics argue for a thorough investigation into the SEC's handling, emphasizing the need for clarity in its regulatory mandate. The ongoing battle among financial institutions to lower fees for spot Bitcoin ETFs adds another layer of competition to the unfolding situation.
Former SEC Chair Jay Clayton predicts imminent approval of the first Bitcoin ETF in the U.S., highlighting market and infrastructure improvements.
Bitcoin has surged above the $45,000 mark, a level unseen in nearly two years, as the market anticipates the probable approval of the inaugural spot Bitcoin Exchange-Traded Fund (ETF) in the United States.
BlackRock and Bitwise revise Bitcoin ETF applications, signaling a proactive stance in aligning with SEC regulations.
The entire crypto market is looking forward to the approval of the ETF, which is seen as a bullish event as it will open up institutional inflows into Bitcoin, thereby generating continued buying pressure. Golden Finance summarizes optimistic and pessimistic attitudes as follows.
Approval of spot Bitcoin ETFs may challenge Bitcoin's original vision, introducing risks of unchecked paper Bitcoin, withdrawal limitations, and potential distortions in the market. As the industry anticipates regulatory decisions, debates persist on the genuine need for ETFs in a space built on principles of decentralization.
Pando Asset AG's recent filing for a spot Bitcoin ETF signals a strategic move in the competitive crypto landscape. The timing aligns with heightened anticipation of SEC approval, as Bitcoin experiences a notable rally. Pando's entry, alongside major players, underscores the evolving dynamics of the crypto market, presenting opportunities amid regulatory and economic uncertainties.
Grayscale Investments is actively pursuing SEC approval for its Grayscale Bitcoin Trust's conversion into a spot bitcoin ETF. Recent discussions with the SEC revolve around NYSE Arca's proposed rule change. Grayscale's persistent efforts, court mandates, and engagements with BNY Mellon showcase its commitment. GBTC outlines plans for listing and ongoing share issuance. The broader industry, including major players like BlackRock and Fidelity, is also navigating the SEC approval process for spot bitcoin ETFs.
Bailey, the CEO of BTC Inc. and a board member at the University of Alabama believes that BlackRock’s entry into the Bitcoin ETF market could tip the scales in favor of regulatory acceptance.