Rejects valkyrie kryptoin bitcoin trusts

Tools & Features Sec rejects valkyrie bitcoin As major players like Fidelity and BlackRock vie for regulatory approval of Bitcoin ETFs, the cryptocurrency market anticipates a potential surge in institutional investment. Bitcoin’s recent price increase, currently trading around $30,539, up 1.27% in the past week, demonstrates the growing interest and potential for further market growth.

Washington-based reporter covering U.S. regulation at the Securities and Exchange Commission and the Consumer Financial Protection Bureau, previously in Ecuador, alumnus of Morehouse College and Northwestern University’s Medill School of Journalism. Why Democrats Should Primary Biden In an official filing published on Thursday, the financial regulator noted that the bitcoin ETF proposal presented to it by the investment advisory firm, First Trust, and hedge fund manager, Skybridge Capital, does not meet up to its requirements.

The SEC has repeatedly rejected or delayed all attempts to launch a Bitcoin ETF, even though American investors can access such products North of the border in Canada. Earlier this year, the regulator, however, greenlit several Bitcoin futures ETFs tied to Chicago Mercantile Exchange’s (CME) derivatives markets. March 25, 2023 at 1:32 AM The US Securities and Exchange Commission (SEC) is asking for public comment on whether ETF directly tied to the price of bitcoin could be a fraudulent vehicle, according to Bloomberg reported on Feb. 7.

Ark Invest’s analyst, Yassine Elmandjra, anticipated that BlackRock’s approach would serve as a guide for other market participants interested in launching their own Bitcoin ETFs. They suggested that these entities would likely modify their applications to include similar precautions and measures to those outlined in BlackRock’s proposal. IRMA Though no Bitcoin ETF applications submitted in the U.S. have been approved to date, SEC chairman Gary Gensler recently expressed his interest in reviewing applications for a bitcoin ETF tied to futures under the Investment Company Act of 1940.