An incoming spot bitcoin exchange-traded fund is more of a matter of when and not if, said Craig Salm, chief legal officer at Grayscale.
An incoming spot bitcoin exchange-traded fund is more of a matter of when, and not if, according to Craig Salm, chief legal officer at Grayscale Investments.
Salm voiced his optimism for such a product on SiriusXM radio on Wednesday, days after the Securities and Exchange Commission said it did not plan to appeal an August court ruling that ordered it to reconsider a bid from Grayscale to convert its flagship GBTC fund into a spot bitcoin ETF. Salm also said Grayscale has been spending a lot of time in Washington as lawmakers consider two bills to regulate crypto. One bill is focused on writing rules for stablecoins, while the other takes a comprehensive approach to regulating crypto. Both were advanced out of the House Financial Services Committee during the summer and are awaiting a full House vote. Prospects in the Senate though are less certain.
"The fact that we have two bills making through committee going to the House floor is an amazing amount of progress in D.C. that we have not seen in the crypto space today," Salm said. Despite industry optimism that a spot bitcoin ETF is now steps closer, a number of things still need to happen before one hits the market, and a decision to not appeal does not necessarily mean the regulator plans to approve one.
The market got a jump scare on Monday after rumors swirled that the SEC approved a spot bitcoin ETF, which turned out to be false. Bitcoin surged toward $30,000 on the news, but lingered closer to $28,000 as of Wednesday morning. © 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
SEC Holds Back from Appealing Court Decision on Grayscale Bitcoin ETF: ReportCrypto Blog
Consulte Mais informação »
[RE-AIR] SEC Won't Appeal Loss in Grayscale Decision; Third Week of SBF Trial BeginsBitcoin (BTC) is climbing amid hopes that a bitcoin exchange-traded fund (ETF) could get approved in the coming months. The Crypto Trader author Glen Goodman shares his crypto market update. Tully & Weiss criminal defense attorney Joseph Tully shares his thoughts on how Sam Bankman-Fried's trial is going so far.
Consulte Mais informação »
SEC Won't Appeal Loss in Grayscale Decision; Third Week of SBF Trial BeginsBitcoin (BTC) is climbing amid hopes that a bitcoin exchange-traded fund (ETF) could get approved in the coming months. The Crypto Trader author Glen Goodman shares his crypto market update. Tully & Weiss criminal defense attorney Joseph Tully shares his thoughts on how Sam Bankman-Fried's trial is going so far.
Consulte Mais informação »
Solana, Bitcoin SV Biggest Gainers From SEC Bitcoin ETF-Fueled PumpSolana has made strong comeback this year
Consulte Mais informação »
The Ripple Effects of a Spot Market Bitcoin ETFMatan Doyich is the co-founder and CEO at Crypto Index.
Consulte Mais informação »
Bitcoin Spikes on False BlackRock Spot Bitcoin ETF Approval RumorNoelle Acheson is the former head of research at CoinDesk and Genesis Trading. This article is excerpted from her Crypto Is Macro Now newsletter, which focuses on the overlap between the shifting crypto and macro landscapes. These opinions are hers, and nothing she writes should be taken as investment advice.
Consulte Mais informação »