Tag Archives: sec

Ark Invest purchased $92 million worth of ProShares Bitcoin Strategy ETF (BITO) and 4,320,928 units of the US Bitcoin futures-linked ETF. Cathie Wood’s asset management firm Ark Invest has actively engaged in portfolio rebalancing this year amid a surge in stock prices of crypto firms. In the latest development on Wednesday, December 27, Ark Invest divested its Coinbase holdings and all of its GBTC holdings. In a recent trade filing, the company led by Cathie Wood revealed the sale of...

The amended ETF application came after a series of meetings between Grayscale and the SEC in December. Leading asset manager Grayscale Investments has filed an amended S-3 application seeking to convert its Grayscale Bitcoin Trust (GBTC) to a spot Bitcoin ETF. Bloomberg analyst James Seyffart confirmed the reapplication with the Securities and Exchange Commission (SEC) on Tuesday, just a few hours after the CEO of the firm’s parent company, Barry Silbert, resigned. Grayscale Finally...

The “smart money index”, which measures the net bullish bets by institutional players through Chicago Mercantile Exchange (CME) Bitcoin futures, has reached an all-time high of over 13,700 in recent days. Large investors have taken large long positions in the Bitcoin (BTC) futures market, indicating that institutional capital is flooding into the coin in anticipation of the SEC potentially approving a spot Bitcoin exchange-traded fund (ETF). Meanwhile, Bitcoin is trading today at around...

In addition to top executives stepping aside from the board of directors, Grayscale Investments also filed an updated spot Bitcoin ETF application with the SEC on Tuesday. Top cryptocurrency investor Grayscale Investments LLC has been preparing to offer spot Bitcoin exchange-traded funds (ETF) in a bid to widen its market share. On Tuesday, the company made several moves to ensure an imminent approval of spot BTC ETF, which is anticipated to happen in the next few weeks. Grayscale...

In 2023, the Bitcoin hashrate has surged by a staggering 130% which shows growing competition and reduced profitability for miners. The computing power of the Bitcoin network, also known as the mining hashrate, hit a record high on Christmas Day, adding to the challenges faced by miners in the wake of declining profitability. Blockchain.com reported that on December 25, Bitcoin’s hash rate achieved an unprecedented level of 544 exahashes per second (EH/s), a data point corroborated by...

A U.S. circuit court in Washington D.C. has ordered the Securities and Exchange Commission to revisit its rejection of a Bitcoin ETF application by crypto hedge fund Grayscale. But that doesn’t mean the SEC won’t find new reasons to reject it or any of the dozen other applications. SEC Rejection or Delay Could Tank Bitcoin Price Crypto industry investors and insiders expect the price of Bitcoin and other crypto assets to surge if and when the SEC approves an exchange-traded...

The timing aligns perfectly in 2024 for a spot ETF approval to have already attracted significant investment, and then the halving decreases Bitcoin’s supply right when demand shoots higher. After yet another banner year in 2023 with over 150% gains, all eyes are on Bitcoin (BTC) to see if the flagship cryptocurrency can sustain its epic run in 2024. Key factors stacking up in Bitcoin’s favor for the coming year have analysts extremely bullish on its prospects. From the possibility of the...

Gensler disclosed that the SEC is actively reviewing rules that could potentially hurt the crypto industry. In a recent interview with CoinDesk, Gary Gensler, chairman of the United States Securities and Exchange Commission (SEC), voiced his concerns regarding the crypto industry, noting that the space is rife with fraud and bankruptcies. The SEC chair said while he respects investors’ decision to explore the crypto market, he does not believe they receive adequate disclosures regarding...

According to analysts at Bitfinex, crypto is undoubtedly gaining more traction globally. Moreover, considering the current state of the crypto market, especially with asset prices, it appears that even more global acceptance is on the way for crypto. Bitfinex analysts have made a bold prediction about the number of users that we might expect to see in the crypto industry come 2024. Their prediction, which was detailed in a recent report suggests that the number of crypto users may be...

The analyst said TradFi institutions trying to get into crypto, but are unsure how to begin, may use Coinbase stock to enter. According to the co-founder of research firm Reflexivity Research Will Clemente, shares of major cryptocurrency exchange Coinbase Global Inc (NASDAQ: COIN) could serve as an indicator for the crypto sector. Clemente says Coinbase shares could be an “index play” for traditional finance (TradFi) firms looking for a way into the industry. Clemente offered his opinion...