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Urgent: Cryptocurrency and positive news, but

The institutional acceptance and adoption of cryptocurrencies is expanding day by day, giving digital currencies more and more stability.
Cryptocurrencies seem to have received an alternative boost today after Amazon (NASDAQ:AMZN) denied news that it would accept bitcoin payments, and today it seems that one of the largest US banks is accelerating towards the same goal.
However, there is something disturbing these incentives, namely the US Securities and Exchange Commission.
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The asset management arm of Goldman Sachs Group (NYSE:GS) has applied to the US Securities and Exchange Commission to offer an ETF focused on the securities of virtual currency-related companies.
The proposed fund, called Goldman Sachs Innovate DeFi and Blockchain Equity ETF, will track the Decentralized Finance and Blockchain Index from German index provider Solactive.
The fund will invest at least 80% of its assets in stocks, shares and certificates of deposits included in the index, according to Bloomberg.
This comes as the US bank has accelerated its cryptocurrency business in recent months, restarting a cryptocurrency trading desk to help clients such as hedge funds deal in bitcoin-related futures.
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Co-founder Wilshire Phoenix Says Bitcoin ETF Will Not Be Approved in 2021
The co-founder added that the US Securities and Exchange Commission may not approve a Bitcoin trading fund until 2023.
William Kaye, co-founder of investment firm Wilshire Phoenix, is the latest person to question the possibility of a Bitcoin (BTC) ETF being approved in the US in 2021.
Speaking to Business Insider, Cai noted that a Bitcoin ETF is unlikely in 2021, as he predicted 2022 and 2023 as the closest possible estimates for the SEC to green-light a BTC ETF.
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The Securities and Exchange Commission has so far chosen to delay its decision on the ETF’s pending filing, and Kaye expects the Commission to reject those requests, saying: “We think they will all default.”
The commission rejected the Wilshire Phoenix Bitcoin ETF in February 2020, much to the disappointment of the company.
According to Cai, despite the change of old guard in the SEC leadership with Gary Gensler as the new head, the Commission’s position on Bitcoin ETFs remains the same.
“I haven’t seen anything to indicate a shift in their thinking,” Kay added.
Wilshire Phoenix co-founder stated that price gouging remains a major concern for the SEC.
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not the only one
Cai is not the only one who has raised doubts about a Bitcoin ETF being approved in 2021.
In June, Gray King, CEO of Bitcoin issuer Osprey Funds, identified 2022 as the first SEC-approved BTC ETF estimate.
King stated that Bitcoin ETFs were not high on the SEC’s priority list.
Cai also made the same argument, telling Insider that the commission is focusing on meme stock regulation, ESG compliance, and the Robinhood IPO.
Several Bitcoin ETF aspirants currently have files with the SEC, including money management firm Global X that was introduced earlier in July.
VanEck is awaiting approval of its bitcoin trading fund, after the authority has postponed the approval decision twice so far.
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The article does not express a recommendation or nomination, but merely a monitoring of market fluctuations, as trading in digital currencies involves high risks, including the risk of losing some or all of the investment amount, knowing that it is not completely subject to financial authorities and markets.

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