So What’s The Latest Situation in Bitcoin Spot ETF Application?

SEC, Delayed Two Bitcoin ETF Decisions Again!

HashDex applied to convert its Bitcoin futures ETF to a HashDex Spot Bitcoin ETF in September 2023,

After reports in the media suggesting that the SEC may not have examined the initial paperwork thoroughly, Fidelity reapplied for Wise Origin Bitcoin Trust at the end of June.

BlackRock applied for the iShares Bitcoin Trust in June 2023. If approved, this trust will trade on Nasdaq with Coinbase Custody as the crypto custodian and BNY Mellon as the cash custodian.

Grayscale Investments is in the process of converting its spot Grayscale Bitcoin Trust (GBTC.PK) to an ETF. Last August, a federal appeals court decided that the SEC’s rejection of Grayscale’s application to form a spot BTC exchange traded fund was incorrect.

Ark Invest and 21Shares resubmitted the documents for their ARK 21Shares Bitcoin ETF. After the regulator refused the initial prospectus for not meeting fraud and market manipulation prevention requirements on 28 June.

After two previous rejections, WisdomTree submitted a new approval application for the WisdomTree Bitcoin Trust on 20 June.

Valkyrie Digital Assets applied to the SEC to launch the Valkyrie Bitcoin Fund under the acronym BRRR on 21 June.

Invesco and Galaxy Digital reactivated their application for Invesco Galaxy Bitcoin ETF, which they applied for in September 2021.

Finally, Swiss asset management company Pando Asset joined the growing list of companies applying for a Bitcoin Spot ETF.

You can follow us on Google News to be instantly notified of our content!

The post What’s the Latest on Bitcoin Spot ETF Application ? appeared first on Coin Engineer.

According to the announcement, the firm’s move aims to expand the company’s product range and aim at qualified U.S. investors with a variety of private investment strategies.

“The products, who are a hundred percent subsidiary of CoinShares and a broker-dealer registered with the Financial Industry Regulatory Authority (FINRA) CoinShares Capital LLC, will conduct marketing activities aimed at qualified investors in the United States to support CoinShares Hedge Fund Solutions strategies and strategies.” the statement added.

You might like: South Korea Leads in Digital Asset Ownership

Lewis Fellas Appointed as Executive

Additionally, CoinShares, in its ongoing expansion, has appointed traditional asset management expert Lewis Fellas to lead the newly established CoinShares Hedging Division. Fellas, who transitioned to crypto asset management in 2016, expressed his honor for pioneering this field within the firm. Also he emphasized that their strategies are a reflection of the team’s profound understanding of digital assets and the firm’s capability to develop tailored products meeting institutional investors’ demands.

He further added, ‘The anticipated resurgence of volatility due to shifting interest rates presents a promising opportunity for our new fund products.’ Each meticulously designed product aims to mitigate counterparty risk while providing investors with a transparent view of asset class and strategy risks.

According to CoinShares CEO Jean-Marie Mognetti, CoinShares Hedge Fund Solutions will leverage the firm’s existing trading capabilities. Mognetti highlighted the current macroeconomic landscape, citing noticeable changes in interest rates and inflation. He emphasized the growing demand for actively managed exposure to digital assets, positioning their products as a natural progression to cater to these evolving needs.

He further stated, ‘Our focus is on delivering a premier experience to our investors, and we’re thrilled to enhance our offerings, reintroducing asset management options as part of our founder’s program—a service we’ve been providing for an extended period.’ This strategic move aligns with CoinShares Hedging Division Expansion and reinforces the firm’s commitment to adapting to the evolving financial landscape.

You can share your opinions in the comments about the topic. Also, follow us on Telegram, Twitter, and YouTube for more content like this.

The post CoinShares Opened Hedging Division After Expansion in the U.S. ! appeared first on Coin Engineer.