The US Securities and Alternate 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 enough time to guage the proposed rule change and deal with
associated considerations. The brand new choice date is ready for March 5, 2024.
Bloomberg ETF analyst James Seyffart expressed little
shock on the delay, stating in a January 18 Twitter publish that the
vital dates to look at are possible in late Could. He referred to the SEC’s Could
23 ultimate deadline for approving or denying VanEck’s Ether ETF. Seyffart and
some analysts speculate that the SEC may 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 additionally 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 ETF analyst
Eric Balchunas commented on Twitter, stating: “Leveraged Bitcoin ETFs might
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 mentioned the delay was in step 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 throughout the business differ on the chance of the
SEC approving spot Ether ETFs. Balchunas expressed optimism, putting a 70%
probability of approval by Could, contemplating the SEC’s ultimate deadline for VanEck’s
fund. Nonetheless, Mark Yusko, co-founder and CEO of Morgan Creek Capital, supplied
a extra cautious perspective. He argued that the SEC stays hostile in direction of
cryptocurrencies,
suggesting the potential for classifying Ether as a safety, in contrast to Bitcoin,
which SEC Chair Gary Gensler has beforehand categorized as a commodity.
The US Securities and Alternate 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 enough time to guage the proposed rule change and deal with
associated considerations. The brand new choice date is ready for March 5, 2024.
Bloomberg ETF analyst James Seyffart expressed little
shock on the delay, stating in a January 18 Twitter publish that the
vital dates to look at are possible in late Could. He referred to the SEC’s Could
23 ultimate deadline for approving or denying VanEck’s Ether ETF. Seyffart and
some analysts speculate that the SEC may 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 additionally 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 ETF analyst
Eric Balchunas commented on Twitter, stating: “Leveraged Bitcoin ETFs might
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 mentioned the delay was in step 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 throughout the business differ on the chance of the
SEC approving spot Ether ETFs. Balchunas expressed optimism, putting a 70%
probability of approval by Could, contemplating the SEC’s ultimate deadline for VanEck’s
fund. Nonetheless, Mark Yusko, co-founder and CEO of Morgan Creek Capital, supplied
a extra cautious perspective. He argued that the SEC stays hostile in direction of
cryptocurrencies,
suggesting the potential for classifying Ether as a safety, in contrast to Bitcoin,
which SEC Chair Gary Gensler has beforehand categorized as a commodity.
