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☆ Cathie Wood's ARK Invest files for first US spot-ether ETF
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +1 min

Cathie Wood, Founder, CEO, and CIO of ARK Invest, speaks at the 2022 Milken Institute Global Conference in Beverly Hills, California, U.S., May 2, 2022. REUTERS/David Swanson Acquire Licensing RightsSept 6 (Reuters) - Cathie Wood's Ark Invest and crypto investment firm 21Shares are seeking regulatory approval to set up an exchange-traded fund (ETF) that would directly hold ether, according to a filing with the U.S. Securities and Exchange Commission (SEC) on Wednesday. The case has been closely watched by the cryptocurrency and asset management industries, which have been trying for years to convince the SEC to approve a spot bitcoin ETF. Cboe Global Markets earlier this year filed a proposal with the U.S. SEC to list and trade shares of a spot bitcoin ETF by Ark Invest and 21Shares on the Cboe BZX exchange. The regulator has in recent years rejected dozens of applications for spot bitcoin ETFs, citing inadequate levels of trading surveillance that could leave the underlying spot market subject to fraud and manipulation.

Persons: Cathie Wood, David Swanson, 21Shares, Jaiveer Singh, Devika Organizations: ARK Invest, Milken, Global Conference, REUTERS, U.S . Securities, Exchange Commission, SEC, U.S, U.S . District of Columbia, Cboe, Ark Invest, Thomson Locations: Beverly Hills , California, U.S, U.S ., Bengaluru

☆ ETF Edge, September 6, 2023
▼ + stars: | 2023-09-06 | by ( Bob Pisani | ) www.cnbc.com time to read: 1 min

RELATED VIDEOS16:00 ETF Edge, September 6, 202304:07 Possible cannabis reclassification fuels fund optimism04:28 What now after SEC punts post-Grayscale ruling? 07:30 Shakey September ahead? 02:27 ETF Edge: September swoon ahead? 05:20 How the SEC could respond to Grayscale's bitcoin ETF win

Organizations: Edge, SEC

☆ Shakey September ahead?
▼ + stars: | 2023-09-06 | by ( Bob Pisani | ) www.cnbc.com time to read: 1 min

RELATED VIDEOS07:30 Shakey September ahead? 04:07 Possible cannabis reclassification fuels fund optimism04:28 What now after SEC punts post-Grayscale ruling? 16:00 ETF Edge, September 6, 202302:27 ETF Edge: September swoon ahead? 05:20 How the SEC could respond to Grayscale's bitcoin ETF win

Organizations: SEC, Edge

☆ Possible cannabis reclassification fuels fund optimism
▼ + stars: | 2023-09-06 | by ( Bob Pisani | ) www.cnbc.com time to read: 1 min

RELATED VIDEOS04:07 Possible cannabis reclassification fuels fund optimism04:28 What now after SEC punts post-Grayscale ruling? 07:30 Shakey September ahead? 16:00 ETF Edge, September 6, 202302:27 ETF Edge: September swoon ahead? 05:20 How the SEC could respond to Grayscale's bitcoin ETF win

Organizations: SEC, Edge

In a complaint filed in Manhattan bankruptcy court, Genesis is seeking to recoup $500 million that DCG borrowed under four loans. In a statement on Wednesday, DCG said it expects to file a settlement with the bankruptcy court soon. Genesis filed for Chapter 11 protection from creditors in January, two months after halting withdrawals. The cases are Genesis Global Capital LLC v. Digital Currency Group Inc, U.S. Bankruptcy Court, Southern District of New York, No. 23-ap-01168; and Genesis Global Capital LLC v. DCG International Investments Ltd in the same court, No.

Persons: Dado Ruvic, Genesis, DCG, Barry Silbert, Jonathan Stempel, Stephen Coates Organizations: REUTERS, Group, Genesis Global Capital, Digital Currency Group International, Arrows Capital, Alameda Research, Genesis Global, LLC, Digital Currency Group Inc, Bankruptcy, Southern District of, DCG, Investments Ltd, Thomson Locations: Manhattan, Southern District, Southern District of New York, New York

☆ Coinbase to launch new lending platform aimed at large institutional investors
▼ + stars: | 2023-09-05 | by ( Jaiveer Shekhawat | ) www.reuters.com time to read: +1 min

Employees of Coinbase Global Inc, the biggest U.S. cryptocurrency exchange, watch as their listing is displayed on the Nasdaq MarketSite jumbotron at Times Square in New York, U.S., April 14, 2021. REUTERS/Shannon Stapleton Acquire Licensing RightsSept 5 (Reuters) - Crytocurrency exchange Coinbase Global (COIN.O) is launching a digital asset lending platform aimed at large institutional investors, a company spokesperson told Reuters on Tuesday. Coinbase has raised $57 million for its new crypto-lending platform, a regulatory filing showed. Coinbase last month had secured approval to offer cryptocurrency futures to U.S. retail customers, scoring a major regulatory win. Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

Persons: Shannon Stapleton, Coinbase, Grayscale's, Jaiveer Singh, Shailesh Organizations: Coinbase Global Inc, Nasdaq, REUTERS, Reuters, Securities and Exchange Commission, SEC, Thomson Locations: New York, U.S, Bengaluru

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSolana rises after Visa taps network to expand USDC stablecoin settlements: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Greg Moritz, co-founder and COO at crypto hedge fund AltTab Capital, weighs in on the implications of Grayscale winning its court battle against the SEC and price movement following the decision.

Persons: Solana, explainers, Greg Moritz Organizations: Visa, CNBC Crypto, CNBC, SEC

☆ Grayscale urges U.S. SEC to approve spot bitcoin ETF following court victory
▼ + stars: | 2023-09-05 | by ( Michelle Price | ) www.reuters.com time to read: +2 min

The ruling requires the SEC to review Grayscale's application, although the agency still has time to appeal the court's decision. A spot bitcoin ETF would give investors exposure to the world's largest cryptocurrency without having to own it. The SEC has denied all spot bitcoin ETF applications, saying applicants have not shown they can protect investors from market manipulation. Grayscale argued the same setup should be satisfactory for its spot ETF, since both products rely on bitcoin's underlying price. The appeals court ruled that the SEC arbitrarily denied Grayscale's application because it never explained why the two arrangements were materially different.

Persons: Dado Ruvic, Grayscale's, DavisPolk, Michelle Price, Tomasz Janowski Organizations: REUTERS, Rights, U.S . Securities, Exchange Commission, SEC, District of Columbia, Chicago Mercantile Exchange, Thomson Locations: Washington

☆ U.S. regulatory landscape 'huge factor' in crypto hedge fund's London expansion: AltTab Capital COO
▼ + stars: | 2023-09-05 | by ( Talia Kaplan | Kaan Oguz | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailU.S. regulatory landscape 'huge factor' in crypto hedge fund's London expansion: AltTab Capital COOGreg Moritz, co-founder and COO at crypto hedge fund AltTab Capital, weighs in on the implications of Grayscale winning its court battle against the SEC and price movement following the decision. He also explains what prompted AltTab Capital to expand to London this year.

Persons: Greg Moritz Organizations: AltTab, SEC Locations: London

☆ Bitcoin and crypto are about to embark on a 'much stronger fundamental' rally, Bernstein predicts
▼ + stars: | 2023-09-05 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

"The existing crypto market remains a low liquidity market, with limited new capital entering the space. Investors remain optimistic about the recent developments and what they could mean for the crypto market over the long term, however. The agency for years has maintained that various attempts at a bitcoin ETF didn't satisfy concerns about fraud and manipulation in the market. The ruling shot that down, noting that "bitcoin futures prices are ultimately based on spot market prices." "The industry push for Ethereum spot ETF follows immediately after, given ETH also has a similar market structure of a traded CME futures market ( > 2 years) and a spot market," he added.

Persons: Bernstein, Gautam Chhugani, bitcoin, Chhugani, Michael Bloom Organizations: U.S . Securities, Exchange Commission, U.S ., Appeals, SEC, ETH, BTC Locations: U.S, Solana

☆ SEC's Gary Gensler is waging war against crypto. Here's a look at how his views on the industry have evolved over the years
▼ + stars: | 2023-09-03 | by ( Joseph Wilkins | ) www.businessinsider.com time to read: +5 min

The SEC has waged war against the cryptocurrency industry this year with a string of lawsuits. At the heart of it is SEC chief Gary Gensler – who has railed against crypto since taking office. Amid his regulatory battle against crypto, Insider maps the evolution of his views on the sector. AdvertisementAdvertisementAs 2023 progresses, Gensler has become more hardline on crypto – waging lawsuits not just against FTX, but also the Binance and Ripple platforms. Lawsuit fatigueAfter almost six months of attrition warfare, Gary Gensler had crypto on the ropes.

Persons: Gary Gensler –, Gary Gensler, messier, Gensler, Satoshi's, Bitcoin, Sam Bankman, Ritchie Torres, Fortune Crypto Organizations: SEC, Service, Securities and Exchange Commission, Investments, CoinDesk, Goldman, Bloomberg TV Locations: Wall, Silicon

☆ Bitcoin just had its 2nd-straight losing month as crypto sold off in August along with stocks and bonds
▼ + stars: | 2023-09-01 | by ( Phil Rosen | ) www.businessinsider.com time to read: +3 min

Bitcoin finished August about 10% lower, its second consecutive losing month. Crypto was caught up in a tough sell-off that hit stocks and bonds throughout the month. Bitcoin extended losses into September, down more than 2.5% on Friday to trade at $25,660. Even as investors cheered Grayscale's court win over the Securities and Exchange Commission—which many see as helping to pave the way for a spot bitcoin ETF—bitcoin couldn't eke out a gain in August. The end-of-week dip comes after the SEC announced late Thursday that it would delay deciding on all of its spot bitcoin ETF applications until October.

Persons: Bitcoin, Crypto, Grayscale's, hasn't, Joe Kelly, bitcoin, Kelly Organizations: Service, Securities and Exchange Commission, SEC, Analysts, District of Columbia, Invesco Locations: Wall, Silicon, solana, BlackRock, WisdomTree

☆ Dollar set for weekly loss as crucial US jobs data looms
▼ + stars: | 2023-09-01 | by ( ) www.cnbc.com time to read: +3 min

The dollar was on course to snap a six-week winning streak against major peers on Friday, as it headed into a pivotal monthly U.S. jobs report that is likely to inform the path for Federal Reserve policy over coming months. Elsewhere, the Chinese yuan strengthened after the nation's central bank cut forex reserve requirements for the first time in a year. It slipped 0.08% to 145.405 yen on Friday, putting its loss for the week at 0.7%. The single currency was little changed at $1.08455 following a 0.74% tumble on Thursday that pared its weekly advance to 0.49%. "Pill's comments appear consistent with another quarter-point turn of the screw on 21 September, but not necessarily thereafter," Attrill said.

Persons: pare, Ray Attrill, Huw Pill, Attrill, bitcoin, Bitcoin Organizations: Federal Reserve, U.S, National Australia Bank, ECB, Bank of England, People's Bank of, Securities and Exchange Commission, SEC Locations: Asia, People's Bank of China

☆ How the SEC could respond to Grayscale's bitcoin ETF win
▼ + stars: | 2023-09-01 | by ( Bob Pisani | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow the SEC could respond to Grayscale's bitcoin ETF winVedder Price attorney Jeremy Senderowicz, Grayscale CLO Craig Salm and Bitwise CIO Matt Hougan join CNBC's Bob Pisani on "ETF Edge" to discuss how the SEC could respond to Grayscale's legal win in its pursuit of a spot bitcoin ETF.

Persons: Vedder Price, Jeremy Senderowicz, Craig Salm, Matt Hougan, Bob Pisani Organizations: SEC

☆ SEC delays decision on spot bitcoin exchange-traded funds. What that means for investors
▼ + stars: | 2023-09-01 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

Even as the U.S. Securities and Exchange Commission delays a decision on several applications for the first spot bitcoin exchange-traded fund, many in the crypto industry are still feeling optimistic for a future blessing from the agency. SEC filings dated Aug. 31 indicated the agency would give itself until mid-October to make decisions on several applications. The update came two days after a federal appeals court sided with Grayscale in a lawsuit against the SEC for denying its application to convert the Grayscale Bitcoin Trust to an ETF. U.S. investors currently have access to bitcoin futures ETFs, which invest in bitcoin futures contracts, or agreements to buy or sell the asset later for an agreed-upon price. The long-awaited bitcoin spot ETF, however, would invest in the digital currency directly.

Persons: Jay Clayton, Bryan Armour Organizations: U.S . Securities, Exchange Commission, SEC, Finance, Morningstar, Fidelity Locations: Blackrock, U.S

☆ Jay Clayton: It's clear bitcoin is not a security and is something retail investors want access to
▼ + stars: | 2023-09-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJay Clayton: It's clear bitcoin is not a security and is something retail investors want access toFormer SEC chair Jay Clayton joins 'Squawk Box' to discuss the SEC's deferral of bitcoin ETF applications, which come days after a court ruled that the SEC's rejection of Grayscale's ETF application was 'arbitrary and capricious', the impact on the outlook, and more.

Persons: Jay Clayton Organizations: SEC

Signage is seen at the headquarters of the U.S. Securities and Exchange Commission (SEC) in Washington, D.C., U.S., May 12, 2021. SEC Chair Gary Gensler said the rules will increase transparency and competition in the private funds industry, which oversees around $20 trillion in assets and has been accused by advocacy groups of opacity and conflicts of interest. The changes require private funds to issue quarterly fee and performance reports and to perform annual audits. Bryan Corbett, chief executive officer of the Managed Funds Association (MFA), said the rules will increase costs for investors and curb competition, he added. The other petitioners are the National Venture Capital Association, American Investment Council, Alternative Investment Management Association, National Association of Private Fund Managers and the Loan Syndications & Trading Association.

Persons: Andrew Kelly, Gary Gensler, Bryan Corbett, Carolina Mandl, Jonathan Oatis, Peter Graff, Cynthia Osterman Organizations: U.S . Securities, Exchange Commission, SEC, Washington , D.C, REUTERS, Friday, Funds, U.S, Circuit, Appeals, National Venture Capital Association, American Investment Council, Alternative Investment Management Association, National Association of Private Fund, Trading Association, Gensler's SEC, Thomson Locations: Washington ,, New York

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsAug 31 (Reuters) - The U.S. Securities and Exchange Commission (SEC) has delayed a decision on whether to approve applications for spot bitcoin exchange-traded funds (ETF) from Invesco (IVZ.N), WisdomTree (WT.N) and Valkyrie, a filing by the regulator showed on Thursday. The SEC has pushed back the decision dates for the three proposals by several weeks to mid-October, but could potentially delay further. The delay comes just two days after a federal appeals court ruled on Tuesday that the SEC was wrong to reject an application from Grayscale Investments to create a spot bitcoin ETF. The SEC has in recent years rejected dozens of applications for spot bitcoin ETFs, publicly traded investment vehicles that directly track bitcoin prices, citing inadequate levels of trading surveillance that could leave the underlying spot market subject to fraud and manipulation. In June, BlackRock (BLK.N), the world's biggest asset manager, also filed for a spot bitcoin ETF, a move that many viewed as a game-changer for the industry which and boosted the price of bitcoin.

Persons: Dado Ruvic, Hannah Lang, Matthew Lewis Organizations: REUTERS, U.S . Securities, Exchange Commission, SEC, District of Columbia, Thomson Locations: Invesco, Washington, BlackRock

☆ Here's the bitcoin outlook for September as crypto industry turns focus on Washington
▼ + stars: | 2023-08-31 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +4 min

Bitcoin is poised to end August on a down beat despite the crypto industry scoring a milestone win on the regulation front. Bitcoin recently jumped 7% after a federal appeals court sided with Grayscale over the Securities and Exchange Commission in a key crypto ETF case. While crypto investors have a lot to cheer, it hasn't been reflected in prices, and bitcoin could remain rangebound throughout September. All eyes on Washington September kicks off with an anticipated update from the SEC on at least one spot bitcoin ETF application. On Thursday afternoon the agency delayed its decisions on bitcoin ETF applications from WisdomTree and Invesco.

Persons: Bitcoin, Rob Ginsberg, Will Tamplin, Tamplin, Cantor Fitzgerald's Elliot Han, Han, Kristin Smith, They're, — CNBC's Michael Bloom Organizations: Metrics, Securities and Exchange Commission, Wolfe Research, SEC, Fidelity Locations: Washington, Bitwise, BlackRock

☆ CNBC Daily Open: Fewer jobs, higher stocks
▼ + stars: | 2023-08-31 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Big bond losses for BoEThe Bank of England is facing heavy losses on its bond purchases, according to Deutsche Bank. The losses are largely because of rapidly rising interest rates, which drive up bond yields and, conversely, push down bond prices. Investors are hoping the ruling will open the floodgates to bitcoin ETFs from companies like BlackRock, Fidelity and Invesco.

Persons: downwardly, BoE, Salesforce, it's Organizations: CNBC, ADP, BoE The Bank of England, Deutsche Bank, Treasury, Securities and Exchange Commission, Investors, Fidelity Locations: U.S, Europe, Germany, BlackRock

☆ 'Altcoins' central to Hong Kong crypto firm Hashkey’s first liquid fund
▼ + stars: | 2023-08-31 | by ( Summer Zhen | ) www.reuters.com time to read: +2 min

The fund, run by the investment arm of Hong Kong crypto giant Hashkey Group, launches on Friday. Less than 50% of its investments will be in Bitcoin and Ethereum , the two biggest crypto currencies. The asset manager will leverage its crypto venture investment experience to diversify allocations to smaller rivals collectively known as "altcoins", Zheng said. Hashkey Capital, which manages over $1 billion in assets, earlier said it aimed to raise $100 million for the fund over 12 months. Zheng said Hashkey Capital is also developing distribution channels with some offshore Chinese financial institutions, adding that weakness in the Hong Kong stock market has also pushed investors to look for diversified strategies.

Persons: Dado Ruvic, HONG KONG, Bitcoin, Jupiter Zheng, Zheng, Summer Zhen, John Stonestreet Organizations: REUTERS, Hashkey Capital, Reuters, Hashkey, Hong, Thomson Locations: HONG, Hong Kong, Bitcoin

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBinance to 'gradually' wind down support for BUSD products: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Zack Shapiro, managing partner at the crypto-focused law firm Rains, weighs on recent court decisions, including the landmark Grayscale ETF ruling and Ripple's victory over its native token XRP.

Persons: explainers, Zack Shapiro, Rains Organizations: CNBC Crypto, CNBC

☆ Grayscale bitcoin ETF ruling 'remarkable,' crypto-focused attorney Zack Shapiro says
▼ + stars: | 2023-08-31 | by ( Talia Kaplan | Kaan Oguz | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGrayscale bitcoin ETF ruling 'remarkable,' crypto-focused attorney Zack Shapiro saysIn a wide-ranging interview with CNBC Crypto World, Zack Shapiro, managing partner at the crypto-focused law firm Rains, weighs on recent court decisions, including the landmark Grayscale ETF ruling and Ripple's victory over its native token XRP.

Persons: Zack Shapiro, Rains Organizations: CNBC

☆ Marathon Digital discusses court ruling in favor of Grayscale over SEC
▼ + stars: | 2023-08-31 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThere are bitcoin ETF applications that should be approved with Grayscale's conversion: CEOFred Thiel, CEO of Marathon Digital, discusses the U.S. Court of Appeals' decision to side with Grayscale in a lawsuit against the Securities and Exchange Commission, which had denied the company's application to convert the Grayscale Bitcoin Trust to an ETF. He says "there are a number of very high-quality ETF applications — BlackRock, Fidelity, etc. — which really should be approved along with the Grayscale conversion to an ETF."

Persons: Fred Thiel Organizations: Marathon, ., Appeals, Securities and Exchange Commission, BlackRock, Fidelity

☆ Analysis-Grayscale victory big boost for decade-long spot bitcoin ETF push
▼ + stars: | 2023-08-30 | by ( Hannah Lang | Chris Prentice | ) www.reuters.com time to read: +5 min

FILE PHOTO: Representations of cryptocurrency Bitcoin are placed on a PC motherboard, in this illustration taken June 16, 2023. A spot bitcoin ETF would give investors exposure to the world’s largest cryptocurrency by market capitalization without having to own it. The SEC has denied all spot bitcoin ETF applications, saying applicants have not shown they can protect investors from market manipulation. Grayscale argued the same setup should be satisfactory for its spot ETF, since both products rely on bitcoin’s underlying price. Other firms have spot bitcoin ETF applications with the SEC, including asset management giant BlackRock, Fidelity and WisdomTree.

Persons: Dado Ruvic, Grayscale’s, It’s, ”, Christopher LaVigne, Withers, “, Michael Sonnenshein, Bitcoin, Sui Chung, Joseph Toner, Seth Hertlein, Ryan Louvar, Paul Grewal, ” Coinbase, Withers ’ LaVigne Organizations: WASHINGTON, REUTERS, District of Columbia, Securities and Exchange Commission, SEC, CNBC, Chicago Mercantile Exchange, Fidelity, Coinbase, BlackRock, Supreme Locations: Washington, New York, WilmerHale, BlackRock

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