Investment Insights 52 | MachinaTrader.com

UK Investment Industry to Develop Tokenization for Greater Efficiency and Transparency

UK funds have received approval to develop tokenization in order to enhance efficiency, transparency, and competitiveness in the investment management industry. The Investment Association, the representative group for the industry in the UK, has announced this development. The Technology Working Group of the Government’s Asset Management Taskforce, in collaboration with the Financial Conduct Authority (FCA) […]

Bitcoin ETFs: BlackRock and Ark Invest Push for In-Kind Redemptions, Offering Tax Benefits for Investors

BlackRock and Ark Invest are engaged in discussions with the US Securities and Exchange Commission (SEC) regarding the establishment of a spot Bitcoin exchange-traded fund (ETF). One of the key points of contention is the method of investor redemptions, which has significant implications for tax purposes. BlackRock and Ark Invest are advocating for in-kind redemptions, […]

Grayscale and BlackRock Engage in Critical Discussions with SEC on Bitcoin ETF Approval

Grayscale and BlackRock, two major financial players, are engaged in discussions with the SEC regarding the approval of a Bitcoin ETF. These discussions focus on the choice between the in-kind and cash redemption models for the proposed ETF. BlackRock prefers the in-kind model, which offers a smoother operational framework. Grayscale’s ongoing discussions with the SEC […]

Binance’s $4.3 Billion Settlement Paves the Way for Spot Bitcoin ETF Approvals

Binance, one of the largest cryptocurrency exchanges, has reached a $4.3 billion settlement with the United States. This settlement is seen as a significant step towards the approval of spot Bitcoin exchange-traded funds (ETFs) by the country’s securities regulator. As part of the settlement, Binance has agreed to comply with Anti-Money Laundering and sanctions rules […]

Grayscale Bitcoin Trust Meets with SEC to Discuss Spot ETF Application

Grayscale Investments recently met with the US Securities and Exchange Commission (SEC) to discuss their bid for a spot Bitcoin exchange-traded fund (ETF). The SEC issued a memo revealing the meeting, which was mandated by a court decision. The discussions focused on potential listing matters concerning Grayscale Bitcoin Trust’s shares. Grayscale has filed a new […]

ARK Invest Defies SEC Guidance, Sticks with In-Kind Creations for Bitcoin ETF

Cathie Wood’s ARK Invest has submitted an updated filing for its spot bitcoin exchange-traded fund (ETF), disregarding recent guidance from the Securities and Exchange Commission (SEC). The SEC had recommended that ETF proposals switch to cash creations instead of in-kind creations. However, ARK appears to be sticking with in-kind creations and redemptions, despite concerns about […]

WisdomTree Resubmits Bitcoin ETF Proposal to SEC, Reflecting Growing Institutional Interest

WisdomTree, a major player in the financial industry, has resubmitted its proposal for a spot Bitcoin Exchange-Traded Fund (ETF) to the U.S. Securities and Exchange Commission (SEC). This move is significant as it could pave the way for mainstream investors to gain exposure to Bitcoin through traditional financial markets. Despite a setback in October 2022 […]

SEC Rumored to Require Cash Creates for Spot Bitcoin ETF Applicants

Bloomberg analyst Eric Balchunas has reported that the Securities and Exchange Commission (SEC) is instructing spot Bitcoin ETF applicants to incorporate cash creates. This means that instead of delivering Bitcoin assets in exchange for shares of the ETF, participants would deliver cash. Balchunas explains that cash creation may be preferred because broker-dealers cannot deal in […]

SEC Extends Decision Period for Global X and Franklin Templeton Bitcoin ETFs

The U.S. Securities and Exchange Commission (SEC) has extended the decision period for two spot Bitcoin Exchange Traded Funds (ETFs). The first filing is for GlobalX’s spot Bitcoin ETF, which was submitted on August 4 and published for comment on August 23. The SEC will now have until February 2024 to approve or reject the […]

WisdomTree Submits Amended Prospectus for Bitcoin ETF to SEC

Asset manager WisdomTree has submitted an amended Form S-1 prospectus to the SEC for a spot bitcoin exchange-traded fund (ETF). The proposed WisdomTree Bitcoin Trust would trade on the CBOE BZX Exchange under the ticker BTCW, with Coinbase Custody Trust serving as the custodian. Despite ongoing discussions with the SEC, WisdomTree remains committed to launching […]