Summary of important breaking news on the morning of the 1st
This is a summary of notable news related to virtual currency until the morning of Japan time.
SEC “Insufficient Bitcoin ETF Application” (Attention: ★★★★☆)
The U.S. Securities and Exchange Commission (SEC) told Nasdaq and Cboe last night that recent filings for physical bitcoin ETFs by BlackRock, Fidelity and others were not “clear and comprehensive,” the WSJ said. reported as a story. It does not mean “unapproved”.
The SEC reportedly returned the filing because it did not provide enough information about the surveillance-sharing agreement arrangement. The asset management company has updated the wording of the document and informed them that they can reapply.
Fidelity had just submitted a new application the day before.
In response to this news, Bitcoin, which had continued to rise, plummeted from the $31,000 level to $29,500.
Meanwhile, Bloomberg ETF analyst Eric Balchunas responded to the SEC’s move on Twitter, saying, “Basically, the SEC wants a name for the ‘cryptocurrency exchange’ and a detailed explanation of the monitoring sharing agreement. I understand that. It can be done and it’s definitely good news.”
Hold up a second, this isn’t as bad as headline.The key paragraph is deep in story.Basically SEC wants them to name the “crypto exchange” and give more details on SSA.That’s understandable, arguably good news.I was under impression they’d have to update that as well. pic.twitter.com/bh9qn65Xh2
— Eric Balchunas (@EricBalchunas) June 30, 2023
connection: What is an exchange traded trust “Bitcoin ETF”? | Why the application of BlackRock attracts attention
Cboe updates Bitcoin ETF application documents (attention: ★★★★☆)
In response to the above-mentioned SEC indication, US Cboe has updated the application documents (19b-4) for five physical Bitcoin ETFs.
Covered are Invesco Galaxy Bitcoin ETF, VanEck Bitcoin Trust, WisdomTree Bitcoin Trust, Wise Origin Bitcoin Trust, ARK 21Shares Bitcoin ETF, and the latest document contains language regarding plans to enter into a supervisory sharing agreement agreement with Coinbase. was included.
The monitoring sharing agreement is the lacking part that the SEC has pointed out in the application of physical bitcoin ETFs so far, and BlackRock and Fidelity will increase the odds of being approved by introducing such a mechanism. I’m about to say.
connection: What is Binance Japan (tentative name)?Thorough explanation of expectations and impact
Part of the Celsius virtual currency can be exchanged for BTC or ETH (Attention: ★★★☆☆)
Failed cryptocurrency lending firm Celsius Network has obtained court approval to sell all cryptocurrencies unrelated to accounts on its Custody and Withhold services to Bitcoin (BTC) or Ethereum. ETH) can be exchanged (sold).
Conversions will be available from 1st July. No specific brand has been announced.
connection: Celsius submits an application to the court to exchange part of the virtual currency for BTC or ETH
Discontinued Revolut US, ADA, MATIC, SOL (Attention: ★★★☆☆)
Revolut US, a digital banking app that also handles cryptocurrencies, has announced that it plans to stop handling ADA, MATIC and SOL following a recent lawsuit by the US SEC.
From June 29th, it will be impossible to buy these three stocks, and it will be possible to sell and hold them by September 18th.
US investment app Robinhood also delisted Solana (SOL), Polygon (MATIC) and Ada (ADA) last month.
connection: “SEC’s lawsuit is an act of overreach” US Coinbase filed for dismissal of lawsuit