America Securities and Change Fee (SEC)
has introduced a 45-day extension to its deliberation interval for asset supervisor
Constancy’s Ether exchange-traded funds (ETFs). The regulatory physique cited the
want for adequate time to guage the proposed rule change and tackle
associated considerations. The brand new choice date is ready for March 5, 2024.
The Bloomberg ETF analyst, James Seyffart expressed little
shock on the delay, stating in a January 18 Twitter put up that the
important dates to look at are probably in late Could. He referred to the SEC’s closing deadline of Could
23 for approving or denying VanEck’s Ether ETF. Seyffart and
some analysts speculate that the SEC would possibly approve a number of spot Ether ETFs
concurrently, mirroring its method to identify Bitcoin ETFs.
In the meantime, Direxion has joined the race by submitting for 5
Bitcoin ETFs with the SEC on January 18. ProShares and REX Shares, amongst different
rivals, have entered the fray. ProShares submitted 5 leveraged
Bitcoin-tracking ETFs on January 16, whereas REX Shares filed for six leveraged
Bitcoin ETFs on January 3.
Direxion’s submitting outlines plans for 1x, 1.5x, and 2x lengthy
leveraged Bitcoin funds, together with corresponding brief leveraged funds. Bloomberg‘s ETF analyst, Eric Balchunas, commented on Twitter: “Leveraged Bitcoin ETFs could
quickly outnumber lengthy solely. Fairly certain that is by no means occurred [before].”
The U.S. SEC has postponed a decision on Constancy’s proposed spot Ethereum ETF, with a brand new decision deadline of March 5, 2024. Bloomberg analyst James Seyffart stated the delay was consistent with expectations, estimating that the approval date for a spot Ethereum ETF might be…
— Wu Blockchain (@WuBlockchain) January 19, 2024
Bitcoin
as Commodity, Ether’s Unsure Regulatory Future
Opinions inside the trade differ on the probability of the
SEC approving spot Ether ETFs. Balchunas expressed optimism, inserting a 70%
likelihood of approval by Could, contemplating the SEC’s closing deadline for VanEck’s
fund. Nevertheless, Mark Yusko, the Co-Founder and CEO of Morgan Creek Capital, provided
a extra cautious perspective. He argued that the SEC stays hostile in the direction of
cryptocurrencies,
suggesting the potential of classifying Ether as a safety, not like Bitcoin,
which the SEC’s Chair, Gary Gensler, has beforehand categorized it as a commodity.
America Securities and Change Fee (SEC)
has introduced a 45-day extension to its deliberation interval for asset supervisor
Constancy’s Ether exchange-traded funds (ETFs). The regulatory physique cited the
want for adequate time to guage the proposed rule change and tackle
associated considerations. The brand new choice date is ready for March 5, 2024.
The Bloomberg ETF analyst, James Seyffart expressed little
shock on the delay, stating in a January 18 Twitter put up that the
important dates to look at are probably in late Could. He referred to the SEC’s closing deadline of Could
23 for approving or denying VanEck’s Ether ETF. Seyffart and
some analysts speculate that the SEC would possibly approve a number of spot Ether ETFs
concurrently, mirroring its method to identify Bitcoin ETFs.
In the meantime, Direxion has joined the race by submitting for 5
Bitcoin ETFs with the SEC on January 18. ProShares and REX Shares, amongst different
rivals, have entered the fray. ProShares submitted 5 leveraged
Bitcoin-tracking ETFs on January 16, whereas REX Shares filed for six leveraged
Bitcoin ETFs on January 3.
Direxion’s submitting outlines plans for 1x, 1.5x, and 2x lengthy
leveraged Bitcoin funds, together with corresponding brief leveraged funds. Bloomberg‘s ETF analyst, Eric Balchunas, commented on Twitter: “Leveraged Bitcoin ETFs could
quickly outnumber lengthy solely. Fairly certain that is by no means occurred [before].”
The U.S. SEC has postponed a decision on Constancy’s proposed spot Ethereum ETF, with a brand new decision deadline of March 5, 2024. Bloomberg analyst James Seyffart stated the delay was consistent with expectations, estimating that the approval date for a spot Ethereum ETF might be…
— Wu Blockchain (@WuBlockchain) January 19, 2024
Bitcoin
as Commodity, Ether’s Unsure Regulatory Future
Opinions inside the trade differ on the probability of the
SEC approving spot Ether ETFs. Balchunas expressed optimism, inserting a 70%
likelihood of approval by Could, contemplating the SEC’s closing deadline for VanEck’s
fund. Nevertheless, Mark Yusko, the Co-Founder and CEO of Morgan Creek Capital, provided
a extra cautious perspective. He argued that the SEC stays hostile in the direction of
cryptocurrencies,
suggesting the potential of classifying Ether as a safety, not like Bitcoin,
which the SEC’s Chair, Gary Gensler, has beforehand categorized it as a commodity.
