The SEC delays its decision on spot Bitcoin ETF proposals.
The postponement comes after a court ruling to review a similar application.
Bitcoin ETF
Although
the cryptocurrency market has significantly developed over the past few years,
the Securities and Exchange Commission (SEC) still uses the same tactics it
employed almost five years ago. The institution has once again postponed its
decision on approving spot Bitcoin exchange-traded funds (ETFs). Even the
recent court ruling challenging its position has not changed the institution's
stance.
SEC (Once Again) Postpones Decision on Spot
Bitcoin ETFs
Initially
scheduled for next week, the new decision dates for applications from Invesco,
WisdomTree, and Valkyrie have been extended to mid-October. This development
comes close to a federal appeals court ruling, which ordered the SEC to
reconsider an application from Grayscale Investments for a similar product.
Two days before
the SEC's announcement, a federal appeals court ruled that the agency was
incorrect in denying Grayscale Investments the opportunity to establish a spot
Bitcoin ETF. The District of Columbia Court of Appeals has now mandated the SEC
to reevaluate Grayscale's application. While the regulatory body reviews the
court's decision, there's no guarantee that its final judgment will favor
Grayscale.
In recent
years, the SEC has dismissed numerous applications for spot Bitcoin ETFs. The
regulatory body cites insufficient trading surveillance, which they argue could
expose the underlying Bitcoin market to fraudulent activities and manipulation.
This stance has remained consistent despite increased interest from major
players in the financial sector.
The price
of Bitcoin declined as it reacted to the latest news. During yesterday's
(Thursday) session, BTC lost over 5% and fell below the local support level of
$26,000.
Source: Yahoo Finance
A Ripple Effect on the
Industry
In a
related development, BlackRock, the world's largest asset manager, submitted
its application for a spot Bitcoin ETF in June. This move was perceived by many
as a potential turning point for the cryptocurrency industry and even led to a
surge in Bitcoin prices. However, the market remains uncertain given the SEC's
history and recent delay.
BlackRock's
application set off a domino effect in the market, prompting many other
companies to submit their proposals. The current situation closely resembles
that of 2018 and 2019, when the market was flooded with the first wave of applications
for spot Bitcoin ETFs. At that time, the SEC also dragged out the decision,
ultimately rejecting the companies' applications.
According
to experts, the SEC will eventually have to relent and allow these types of
instruments to trade on the American market. However, it is currently engaged
in open warfare with cryptocurrency companies, bringing lawsuits against firms, such as Binance and Coinbase.
Although
the cryptocurrency market has significantly developed over the past few years,
the Securities and Exchange Commission (SEC) still uses the same tactics it
employed almost five years ago. The institution has once again postponed its
decision on approving spot Bitcoin exchange-traded funds (ETFs). Even the
recent court ruling challenging its position has not changed the institution's
stance.
SEC (Once Again) Postpones Decision on Spot
Bitcoin ETFs
Initially
scheduled for next week, the new decision dates for applications from Invesco,
WisdomTree, and Valkyrie have been extended to mid-October. This development
comes close to a federal appeals court ruling, which ordered the SEC to
reconsider an application from Grayscale Investments for a similar product.
Two days before
the SEC's announcement, a federal appeals court ruled that the agency was
incorrect in denying Grayscale Investments the opportunity to establish a spot
Bitcoin ETF. The District of Columbia Court of Appeals has now mandated the SEC
to reevaluate Grayscale's application. While the regulatory body reviews the
court's decision, there's no guarantee that its final judgment will favor
Grayscale.
In recent
years, the SEC has dismissed numerous applications for spot Bitcoin ETFs. The
regulatory body cites insufficient trading surveillance, which they argue could
expose the underlying Bitcoin market to fraudulent activities and manipulation.
This stance has remained consistent despite increased interest from major
players in the financial sector.
The price
of Bitcoin declined as it reacted to the latest news. During yesterday's
(Thursday) session, BTC lost over 5% and fell below the local support level of
$26,000.
Source: Yahoo Finance
A Ripple Effect on the
Industry
In a
related development, BlackRock, the world's largest asset manager, submitted
its application for a spot Bitcoin ETF in June. This move was perceived by many
as a potential turning point for the cryptocurrency industry and even led to a
surge in Bitcoin prices. However, the market remains uncertain given the SEC's
history and recent delay.
BlackRock's
application set off a domino effect in the market, prompting many other
companies to submit their proposals. The current situation closely resembles
that of 2018 and 2019, when the market was flooded with the first wave of applications
for spot Bitcoin ETFs. At that time, the SEC also dragged out the decision,
ultimately rejecting the companies' applications.
According
to experts, the SEC will eventually have to relent and allow these types of
instruments to trade on the American market. However, it is currently engaged
in open warfare with cryptocurrency companies, bringing lawsuits against firms, such as Binance and Coinbase.
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
Executive Interview | Jas Shah | FMLS:25
Executive Interview | Jas Shah | FMLS:25
Interview with Jas Shah
Builder | Adviser | Fintech Writer | Product Strategist
In this episode, Jonathan Fine sat down with Jas Shah, one of the most thoughtful voices in global fintech. Known for his work across advisory, product, stablecoins, and his widely read writing, Jas brings a rare combination of industry insight and plain-spoken clarity.
We talk about his first impression of the Summit, the projects that keep him busy today, and how they connect to the stablecoin panel he joined. Jas shares his view on the link between fintech, wealthtech and retail brokers, especially as firms like Revolut, eToro and Trading212 blur long-standing lines in the market.
We also explore what stablecoin adoption might look like for retail investment platforms, including a few product and UX angles that are not obvious at first glance.
To close, Jas explains how he thinks about writing, and how he approaches “shipping” pieces that spark debate across the industry.
Interview with Jas Shah
Builder | Adviser | Fintech Writer | Product Strategist
In this episode, Jonathan Fine sat down with Jas Shah, one of the most thoughtful voices in global fintech. Known for his work across advisory, product, stablecoins, and his widely read writing, Jas brings a rare combination of industry insight and plain-spoken clarity.
We talk about his first impression of the Summit, the projects that keep him busy today, and how they connect to the stablecoin panel he joined. Jas shares his view on the link between fintech, wealthtech and retail brokers, especially as firms like Revolut, eToro and Trading212 blur long-standing lines in the market.
We also explore what stablecoin adoption might look like for retail investment platforms, including a few product and UX angles that are not obvious at first glance.
To close, Jas explains how he thinks about writing, and how he approaches “shipping” pieces that spark debate across the industry.
