Sam Park, CEO of Samsung Asset Management in Hong Kong, expressed optimism that the city-state will soon give the green light for spot-based ETFs, with its goal of "developing a crypto hub."
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.
VanEck's spot BTC ETF application remains in limbo as the SEC pushed back on its decision on whether or not to approve the digital assets, citing the market's susceptibility to manipulation.
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 approved Valkyrie's XBTO BTC Futures Fund to list on the Nasdaq Stock exchange as an ETF, stating that the application had met all its consumer protection requirements.
Samsung Assets Management Co., the investment arm of the South Korean conglomerate is set to list an exchange traded fund (ETF) that tracks blockchain firms in Hong Kong.
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.