US banking giant Wells Fargo is now holding a spot Bitcoin ETF on behalf of its clients, according to a new filing with the SEC. The bank’s Form F13 filing, which requires institutional investment managers to disclose their holdings, says Wells Fargo is holding 2,245 shares of the Grayscale Bitcoin Trust (GBTC), which was converted […]
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This week’s Crypto Biz features Robinhood’s Wells notice, Grayscale’s Ether ETF application, Coincheck’s merger deal and Block’s billionaire debt offering.
Another Wells notice has hit the crypto industry as the United States Securities and Exchange Commission (SEC) intensifies its scrutiny, targeting Robinhood.
The popular trading platform received the notice on May 4, signaling potential enforcement action over alleged securities violations related to cryptocurrency listings and custodian operations.
Like other crypto firms that have received similar notices from the agency — including Coinbase, Kraken and Uniswap — Robinhood has promised to fight any SEC action while complaining about the lack of federal guidance.
Revenue at Digital Currency Group (DCG) increased 51% to $229 million in the first quarter of 2024, driven by the rebound in crypto markets.
Digital Currency Group (DCG) saw a surge in revenue in the first quarter of 2024, driven by the recovery of crypto markets.
The crypto conglomerate’s revenue jumped 51% year-over-year to $229 million, the company reportedly wrote in a letter to shareholders.
Grayscale’s revenue held steady during the quarter despite $17.4 billion in outflows from its Bitcoin fund since it was converted to an exchange-traded fund (ETF) in January. The asset manager generated $156 million in revenue thanks to rising asset prices, offsetting losses in assets under management.
Grayscale has retracted its application to list its ethereum trust, known as ETHE, as detailed in a filing with the U.S. Securities and Exchange Commission. James Seyffart, a Bloomberg analyst specializing in exchange-traded funds (ETF), expressed puzzlement over Grayscale’s decision to do so. Grayscale’s Strategic Ethereum Trust Retraction Filing Raises Questions Per a filing with […]
The withdrawal comes a little over two weeks before the United States securities regulator will be forced to make a decision on at least one spot Ether ETF application.
Grayscale has made a surprising move to withdraw its 19b-4 application for its Ether (ETH) futures exchange-traded fund, just three weeks before the securities regulator would be forced to make a decision on it.
The cryptocurrency asset manager filed a notice of withdraw the Grayscale Ethereum Futures Trust with the United States Securities and Exchange Commission on May 7.
The SEC was scheduled to make a final decision on Grayscale's Ether futures ETF on May 30.
On May 1, 2024, U.S. spot bitcoin ETFs experienced their most significant single-day outflows since their inception on Jan. 11, 2024. ETF Institute Co-Founder: ‘Inflows Don’t Go up in a Straight Line’ Data sourced from coinglass.com reveals that these funds saw a withdrawal of $563.7 million on Wednesday, with Fidelity’s FBTC experiencing the highest outflow, […]
On Tuesday, U.S. spot bitcoin exchange-traded funds (ETFs) registered their fifth consecutive day of net withdrawals, documenting a substantial $161.6 million in negative outflows. Over the last two days, Grayscale’s Bitcoin Trust (GBTC) has offloaded 1,731.56 BTC, diminishing its reserves to 296,713.90 BTC. Bitcoin ETFs Continue to See Persistent Outflows Since April 24, 2024, U.S. […]
Crypto markets have shed nearly $200 billion off their market cap in the last 24 hours as some of the industry’s biggest players appear keen to unload their coins. According to crypto “de-anonymizing” platform Arkham, digital assets manager Grayscale has sent nearly a quarter of a billion dollars worth of Bitcoin (BTC) to Coinbase, potentially […]
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While some crypto observers are concerned about IBIT’s inflow halt, others say it’s more normal than the 71-day inflow streak it has recorded.
The Bitcoin (BTC) community is increasingly concerned about BlackRock’s spot Bitcoin exchange-traded fund (ETF) halting inflows for several consecutive days for the first time since launch.
BlackRock's iShares Bitcoin Trust (IBIT), the fastest-growing spot Bitcoin ETF in the United States, has not recorded any inflows since April 24.
According to data from IBIT’s official page, the fund has held the same 274,462 BTC over the past four trading days.
Amendments are slowing down the SEC in both cases, although observers say the agency is not really engaged with them.
The United States Securities and Exchange Commission (SEC) will delay its decisions on the BlackRock and Grayscale applications for spot Ether (ETH) exchange-traded funds (ETFs). The SEC released notices of the delay in the Grayscale decision and the amending of the BlackRock application just hours after the agency pushed back its decision on Franklin Templeton’s proposed spot ETH ETF.
The SEC decision on converting digital asset manager Grayscale’s ETH Trust to a spot ETH exchange-traded product on NYSE Arca was due on April 24, but will now be extended 60 days to June 23.
“The Commission finds that it is appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider the proposed rule change, as modified by Amendment No. 1,” the agency wrote in its notice on April 23. It published the notice of Grayscale’s amendment filing on April 2. The amendment strengthened Grayscale’s arguments, but did not materially change its proposal.
