Coinbase And Industry Leaders File Amicus Brief In Support Of Grayscale Spot Bitcoin ETF

Coinbase And Industry Leaders File Amicus Brief In Support Of Grayscale Spot Bitcoin ETF
фото показано с : bitcoinmagazine.com

2022-10-20 17:16

The brief calls attention to the SEC’s continued denial of spot bitcoin ETF while the regulator simultaneously approves bitcoin futures products.

Coinbase filed an amicus brief supporting Grayscale Investments’ continued efforts to launch a spot-bitcoin exchange-traded fund (ETF), per a court filing.

Amicus briefs, or an amicus curiae, occurs when an organization or individual who is not involved in a court case believes they can offer expertise that could be valuable to a court’s determination by providing information.

The brief, submitted to to the U.S. Court of Appeals for the District of Columbia Circuit explains that the Securities and Exchange Commission (SEC) has “categorically denied every proposal” for spot bitcoin ETFs in the U.S.

Participants of the brief, including the Blockchain Association, the Chamber of Digital Commerce and Coin Center stated that "The Commission's 'thumb on the scale' approach does not withstand scrutiny.”

The groups go on to explain that, while a spot bitcoin ETF continues to be blocked, the SEC has found no fault in approving bitcoin futures saying the regulator has allowed “similar, riskier products to enter the market.”

This past June, Grayscale announced it was suing the SEC for repeatedly denying the fund the ability to convert to a spot bitcoin ETF which would allow Grayscale to physically hold bitcoin on behalf of its investors.

By that time, Grayscale had already acquired a top legal mind from President Obama’s administration to lead its legal efforts against the SEC.

The initial request to transition the fund into an ETF was announced in April of last year. The process continues to be an ongoing battle of litigation, with the SEC hiding behind investor and consumer protections without providing constructive feedback on what is necessary to move this investment vehicle forward. 

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 66391.13 (+0.47%)
Объем 24H $19.179b
Изменеия 24h: -0.75 %, 7d: 8.22 %
Cегодня L: $66031.14 - H: $66391.13
Капитализация $1307.215b Rank 1
Цена в час новости $ 18997.76 (249.47%)

bitcoin spot brief etf denial continued sec

Источник: bitcoinmagazine.com

bitcoin spot → Результатов: 126


Spot Bitcoin ETF: US Lawmakers Jump In With Demands For The SEC

Lawmakers in the United States have finally put their foot down and demanded that the US SEC Chairman approve Grayscale’s spot Bitcoin ETF proposal “immediately. ” US Congress Imposes Spot Bitcoin ETF Immediate Approval A group of four members of the United States Congress sent a letter to the United States Securities and Exchange Commission (SEC) Chairman, Gary Gensler on Tuesday, September 26 demanding the prompt endorsement of spot Bitcoin ETFs.

2023-9-27 15:00


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Ethereum's transaction size falls 54%: Why it's not bad news for ETH

ETH could be close to its bottom after the transaction size failed to spike. While the price might slip, traders are convinced of a quick recovery. On the 19th of May, AMBCrypto observed thaThe post Ethereum's transaction size falls 54%: Why it's not bad news for ETH appeared first on AMBCrypto.

Whale watch: $1B in Toncoin trades shake the market, tracking what's next

Toncoin has seen a surge in whale activity on its network. TON, however, is at risk of a price decline. Toncoin [TON] has witnessed a spike in whale activity on its network in the past few wThe post Whale watch: $1B in Toncoin trades shake the market, tracking what's next appeared first on AMBCrypto.

Predicting how ETH will react IF the SEC approves Ethereum ETFs

Coinbase analyst sees a 30-40% chance of approval for Ethereum ETFs. Ethereum's dominance and performance are at a low, suggesting a need for positive development soon. It is generally belieThe post Predicting how ETH will react IF the SEC approves Ethereum ETFs appeared first on AMBCrypto.

Ethereum sets sights on $4K: Will THIS spark a new rally for ETH?

ETH was up by more than 6% over the last seven days.  A few of the metrics suggested that the bullish momentum might not last.  Ethereum [ETH] caught investors off guard as its price gaineThe post Ethereum sets sights on $4K: Will THIS spark a new rally for ETH? appeared first on AMBCrypto.

Ethereum ETFs progress, but Solana may turn things bearish instead - How?

New data indicated that the likelihood of approval of Ethereum ETFs was relatively high. Ethereum lost market share to Solana, however, the price of ETH continued to surge. Ethereum [ETH] haThe post Ethereum ETFs progress, but Solana may turn things bearish instead - How? appeared first on AMBCrypto.

Fantom Sonic: Will Ethereum integration help FTM's price?

Fantom disclosed that Ethereum would enable the token migration. While FTM's price increased, reaching $1 could be challenging in the short term. Layer-1 blockchain Fantom [FTM] has discloseThe post Fantom Sonic: Will Ethereum integration help FTM's price? appeared first on AMBCrypto.

Avalanche [AVAX] jumps 7% ahead of token unlock: Is $43.50 coming?

Volatility around the token may be low, considering it has previously released 60% of its supply. AVAX might hit $43.50 if the volume continues to back the price action. The price of AvalancThe post Avalanche [AVAX] jumps 7% ahead of token unlock: Is $43.50 coming? appeared first on AMBCrypto.