Web3 Diaries- Major U.S. Exchanges Post Final BTC ETF Application Fillings
U.S. spot bitcoin exchange-traded funds (ETFs) are set to make a debut soon, considering the amendments made by top exchanges that will list them, to documents. It is likely that the U.S. Securities and Exchange Commission will provide its stamp of approval in the coming days.
The amended 19b-4 filings, filed on behalf of BlackRock, Grayscale, Fidelity and other issuers, join last month’s amended S-1 filings, addressing feedback from the U.S. Securities and Exchange Commission (SEC). More than a dozen applicants hope to launch the first spot bitcoin ETFs in the U.S.; it’s likely multiple issuers will be approved simultaneously.
U.S. SEC Seek to Leverage Terraform Win in Coinbase, Binance Disputes
The U.S. Securities and Exchange Commission (SEC) has been asking courts to refer its recent win in the Terraform Labs dispute and expect to convince other judges that the regulator is right about platforms like Coinbase and Binance trading unregistered securities.
Although, the SEC has suffered a number of setbacks in its crypto court cases, such as in its lawsuit against Ripple and in Grayscale Investments’ success challenging the agency’s spot bitcoin exchange traded fund (ETF) application rejection, the agency emerged victorious last week in its contention that Terraform was improperly offering securities through its Terra/Luna stablecoin offerings and the Mirror Protocol.
VanEck Offers 5% of BTC ETF Profits to Bitcoin Core Developers
VanEck, the asset management firm and prospective BTC exchange-traded fund (ETF) provider, has said that it will donate 5% of the profits from its fund, if approved, to Bitcoin developers Brink.
VanEck, is among dozen others, filed an application to list a spot bitcoin ETF in the U.S. and is awaiting a decision from the U.S. Securities and Exchange Commission (SEC). The markets regular is expected to finally approve such the listing of such a fund in the coming days.
The arrival of spot bitcoin ETFs is expected to grow the amount of investment into cryptocurrency from the TradFi world to levels never seen before.
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