Valkyrie becomes the latest digital asset company to initiate a job cut as it grapples with unpleasant market conditions, with CEO Leah Wald saying 30% of the firm's workforce will be terminated.
For now, only BTC and ETH futures can be listed, but the Securities and Futures Commission states that it is mulling over a potential expansion of the scope of virtual asset futures.
Spot ETFs are repeatedly rejected by the SEC because the spot market for digital assets is highly unregulated, among several other concerns the agency has, such as market manipulation.
The U.S. securities regulator previously shot down WisdomTree’s spot ETF application on the same ground, even as Grayscale sues the agency for “discriminatory” ETF rejections.
In a recent speech, Hester Peirce claimed that the SEC has refused to engage with the Bitcoin industry and said it held the sector to an impossibly high standard.
The U.S. securities regulator hasn’t changed its mind about BTC spot ETFs and insisted that the underlying market is still prone to fraud and price manipulation in its rejection.
Kookmin Bank plans to launch the exchange traded fund once there are regulations in place for such a product and that it will target retail investors.
The U.S. regulator is requesting for public feedback on the ETF application, which seeks to convert shares of the Grayscale Bitcoin Trust (GBTC) into a spot ETF, the first of its kind in the U.S. market.
The U.S. securities regulator denied the BTC spot ETF application by Fidelity Investments, the sixth rejection since November, with VanEck, Kryptoin, Valkyrie, and Skybridge Capital all failing their applications.
The SEC has delayed its decision on the VanEck BTC Trust–a BTC ETF–by 45 days and is looking for public comments on the matter.
VanEck has filed for a digital asset ETF that will track the MVIS® Global Digital Assets Equity Index rather than any underlying digital asset.