The parent company of MetaMask, one of the world’s most popular crypto wallets, is urging the U.S. Securities and Exchange Commission (SEC) to approve spot market Ethereum (ETH) exchange-traded funds (ETFs). In a new letter to the SEC, Consensys asks the regulatory agency to approve spot market ETH ETFs as Ethereum’s proof-of-stake consensus mechanism, which […]
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Coinbase founder and CEO Brian Armstrong is saying that Ethereum (ETH) is a commodity under US federal law just like Bitcoin (BTC). The classification is an important one as the U.S. Securities and Exchange Commission (SEC) is considering several applications to launch ETH exchange-traded funds (ETFs). The SEC approved ETFs for Bitcoin earlier this year. […]
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Coinbase executives are meeting with the U.S. Securities and Exchange Commission (SEC) to support the approval of a spot market Ethereum (ETH) exchange-traded fund (ETF). A new memorandum reveals that Coinbase executives met with the SEC earlier this week to sway the regulatory agency into greenlighting crypto asset manager Grayscale’s application for an Ethereum ETF […]
The post Coinbase Executives Meet With SEC To Discuss Ethereum ETF, Argue ETH Spot Market Shows Resilience to Fraud appeared first on The Daily Hodl.
The U.S. Securities and Exchange Commission (SEC) is delaying its decision on banking giant Fidelity’s spot market Ethereum (ETH) exchange-traded fund (ETF) until March. In a new document, the regulatory agency says that it needs more time to consider approving such a product – which was originally proposed in November and would see Fidelity’s ETH-based […]
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An analyst who nailed the end of the 2021 Bitcoin bull market believes that Ethereum (ETH) will rally behind a catalyst that’s been overshadowed by the potential approval of a spot market BTC exchange-traded fund (ETF). Pseudonymous analyst Pentoshi tells his 727,600 followers on the social media platform X that the possible approval of spot […]
The post Top Analyst Unveils Ethereum Catalyst That Could Trigger Nearly 50% Surge for ETH – Here’s His Outlook appeared first on The Daily Hodl.
The U.S. Securities and Exchange Commission (SEC) is asking the public what they think about financial services giant Fidelity’s potential spot market Ethereum (ETH) exchange-traded fund (ETF). In a new notice, the regulatory agency is asking the public for their opinion on Fidelity filing a bid to create an Ethereum-based ETF on the Chicago Board […]
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The U.S. Securities and Exchange Commission (SEC) is delaying its decisions on several Bitcoin (BTC) and Ethereum (ETH) exchange-traded fund (ETF) applications until next year. In new filings, the regulatory agency says that it will be delaying its decisions on applications filed by asset management firm Hashdex to create a mixed spot and futures Ethereum […]
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Three cryptocurrency exchange-traded funds (ETFs) scheduled to launch on the Cboe Australia exchange today were delayed due to “checks” still being undertaken.
The launch of Australia’s first three Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETF) scheduled for today, has been delayed as a result of further “checks” needing to be completed.
The exchange listing the Bitcoin Spot ETF from Cosmos Asset Management, Cboe Australia, released a statement late Tuesday stating that “standard checks prior to the commencement of trading are still being completed” and a “further update will be provided in the coming days.”
Cboe issued the same notice regarding two spot ETFs issued by 21Shares also scheduled for launch today, a Bitcoin ETF and an Ethereum ETF.
It’s unclear why the products are delayed with the Australian Financial Review reporting that a “service provider downstream” — an entity such as a prime broker or major institution with the power to delay listings until it's ready to support the trade of the products — could be to blame for the hold up.
The underlying asset for the Cosmos ETF is a direct investment into the Canadian Purpose Bitcoin ETF, North America’s first Bitcoin exchange-traded fund. The funds issued by 21Shares are backed by Bitcoin and Ethereum reserves held in cold storage by Coinbase.
Toby Chapple, Head of Trading at Australian wealth management firm Zerocap, told Cointelegraph the delay was “not a big deal.” Referring to the Cosmos Bitcoin ETF he added:
“You would think an ETF which invests in another ETF would be easier to handle, but the broker will just be ensuring they have all their ducks lined up before they go live.”
Cici Lu, Managing Partner at crypto asset investment and wealth management firm Apollo Capital also said that it seemed like just a small bump in a long road for the funds:
“While this isn't an ideal start for the ETF's, it will be looked at as only a minor speed bump in an otherwise successful result for the crypto asset industry in Australia.”
He added: “The traditional finance sector is trying to get its head around how to adapt their businesses to a new asset class, it is a journey both crypto and TradFi are on together. ”
Cointelegraph contacted Cboe Australia, Cosmos and 21Shares for more information regarding the delays but did not immediately hear back.
Cosmos Asset Management’s “Cosmos Purpose Bitcoin Access ETF” received approval from the Australian Securities Exchange (ASX) on April 19 to begin trading following a seven-day notice period and was expected to attract around $1 billion after its launch.
The two ETFs issued by 21Shares received approval around the same time, aligning all three funds with the same launch date.
Related: Australian prudential regulator releases roadmap for cryptocurrency policy
21Shares isn’t a stranger to hold ups with its crypto ETF products Earlier in April the United Stated Securities and Exchange Commission (SEC) rejected its Bitcoin ETF which was to list on the US Cboe BZX Exchange saying the exchange didn’t meet requirements for listing a financial product.
The financial asset manager, Wisdomtree, is now the second institution to file for an ethereum-based exchange-traded fund (ETF), following Vaneck’s recent filing on May 7. The recently filed S-1 with the U.S. Securities and Exchange Commission (SEC) says the fund’s “investment objective is to gain exposure to the price of ether.” Wisdomtree Follows Vaneck’s Lead […]