Pierce believes the SEC may not approve spot ETFs until BTC markets are fully regulated.
Fidelity Investments wish to launch aΒ Metaverse ETF in the US.
The U.S. Securities and Exchange Commission (SEC) is delaying Grayscale's proposed ETF, a spot bitcoin exchange-traded fund. In a statement released on 4 February 2022, the SEC is concerned how Grayscale will fend manipulation and fraud.
Grayscale is the largest digital asset manager. As of 4 February 2022, the total Assets Under Management (AUM) stand at $36.5 billion GBTC underperformed due BTC heavy selling at the beginning of the year.
Some recovery has been made in the last trading session, Grayscale Bitcoin Trust is up 13.5% (approx.).
Earlier in 2021, Grayscale asked to convert its GBPTC shares into a spot bitcoin ETF. This is the second time the SEC is delaying their decision to Grayscale's application. The SEC has already rejected several ETF applications from WisdomTree, Krypton, Fidelity and SkyBridge.
In October 2021 the SEC did approve 2 bitcoin future-based funds: ProShares Bitcoin Strategy ETF and Valkyrie Bitcoin Strategy ETF. The SEC to this date has not approved a spot bitcoin ETF.
Fidelity was able to launch its spot bitcoin ETF in Canada, Fidelity Advantage Bitcoin ETF (FBTC). Fidelity has filed a new application in the US, this time for a Fidelity Metaverse ETF.
Some suggest the SEC is rejecting the ETF's due to upcoming regulations in the crypto industry. However, Securities and Exchange Commissioner Hester Peirce said the SEC may not publish new rules for cryptocurrency exchanges this year.
"The expansive definition that's being proposed for exchanges will cover a lot of potential platforms that haven't thought necessarily that they would be covered, and that's in the traditional security space, as well as in the crypto space."
Pierce believes the SEC is unlikely to approve spot ETFs until BTC markets are fully regulated. The SEC's concerns are that crypto markets are yet to be regulated in the same manner as equities.
The SEC may propose to reveal who are the creators of the cryptocurrency, the amount of tokens that will be minted and complete transparency of the code. This will be tied in with anti-fraud rules.
The U.S. Securities and Exchange Commission (SEC) is delaying Grayscale's proposed ETF, a spot bitcoin exchange-traded fund. In a statement released on 4 February 2022, the SEC is concerned how Grayscale will fend manipulation and fraud.
Grayscale is the largest digital asset manager. As of 4 February 2022, the total Assets Under Management (AUM) stand at $36.5 billion GBTC underperformed due BTC heavy selling at the beginning of the year.
Some recovery has been made in the last trading session, Grayscale Bitcoin Trust is up 13.5% (approx.).
Earlier in 2021, Grayscale asked to convert its GBPTC shares into a spot bitcoin ETF. This is the second time the SEC is delaying their decision to Grayscale's application. The SEC has already rejected several ETF applications from WisdomTree, Krypton, Fidelity and SkyBridge.
In October 2021 the SEC did approve 2 bitcoin future-based funds: ProShares Bitcoin Strategy ETF and Valkyrie Bitcoin Strategy ETF. The SEC to this date has not approved a spot bitcoin ETF.
Fidelity was able to launch its spot bitcoin ETF in Canada, Fidelity Advantage Bitcoin ETF (FBTC). Fidelity has filed a new application in the US, this time for a Fidelity Metaverse ETF.
Some suggest the SEC is rejecting the ETF's due to upcoming regulations in the crypto industry. However, Securities and Exchange Commissioner Hester Peirce said the SEC may not publish new rules for cryptocurrency exchanges this year.
"The expansive definition that's being proposed for exchanges will cover a lot of potential platforms that haven't thought necessarily that they would be covered, and that's in the traditional security space, as well as in the crypto space."
Pierce believes the SEC is unlikely to approve spot ETFs until BTC markets are fully regulated. The SEC's concerns are that crypto markets are yet to be regulated in the same manner as equities.
The SEC may propose to reveal who are the creators of the cryptocurrency, the amount of tokens that will be minted and complete transparency of the code. This will be tied in with anti-fraud rules.
Coinbase Faces Another Class Action Lawsuit: Investors Allege Illegal Offerings
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now π https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now π https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
π£ Stay updated with the latest in finance and trading!
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africaβs premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now π https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
π£ Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
π LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africaβs premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now π https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
π£ Stay updated with the latest in finance and trading!
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
π£ Stay updated with the latest in finance and trading!
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
π£ Stay updated with the latest in finance and trading!
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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