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SEC Boss Gary Gensler Breaks Silence on Ethereum ETFs
SEC Chairman Gary Gensler drops cryptic remarks on Ethereum ETF approval process, leaving investors on edge
In a recent appearance on CNBC, SEC Chairman Gary Gensler provided insights into the expected timeline for the review of the spot Ethereum ETF S-1 reports. Eleanor Terrett, a reporter at Fox Business, relayed this as an indication that the review process is expected to be lengthy, potentially causing delays in the approval process for Ethereum ETFs.
As a reminder, last Friday marked a significant deadline as spot Ethereum ETF issuers, including industry giants BlackRock and VanEck, submitted their initial draft S-1 forms to the SEC. The regulator will now begin the review process, providing feedback and requesting amendments. Industry insiders expect at least two rounds of draft filings before a final decision is made.
🚨NEW: @SECGov Chairman @GaryGensler says the next step in the $ETH ETF approvals “will take some time,” possibly indicating a potential slow-walk of the S-1 approval process. https://t.co/iwfN9vvmt8
— Eleanor Terrett (@EleanorTerrett) June 5, 2024
In contrast to the relatively straightforward path of #BitcoinETF💰💰💰 approvals, the altcoin landscape appears to be murkier, according to market participants. While unanimous approval would mark a pivotal moment for the market, recent events have created uncertainty. For example, Hashdex's withdrawal of its application for undisclosed reasons has left market participants questioning the overall trajectory of Ethereum ETFs.
Attention now shifts to the SEC's stance on the crypto market and the ongoing developments in #BitcoinETFs! , as liquidity in traditional financial markets is hundreds of times greater than cryptocurrency. On one side, that does not mean that investors would want to increase their risk by switching to altcoins, and vice versa - they may shift some funds from #BitcoinETFs in a search of extra profits.
#BnbAth #StartInvestingInCrypto
SEC Chairman Gary Gensler drops cryptic remarks on Ethereum ETF approval process, leaving investors on edge
In a recent appearance on CNBC, SEC Chairman Gary Gensler provided insights into the expected timeline for the review of the spot Ethereum ETF S-1 reports. Eleanor Terrett, a reporter at Fox Business, relayed this as an indication that the review process is expected to be lengthy, potentially causing delays in the approval process for Ethereum ETFs.
As a reminder, last Friday marked a significant deadline as spot Ethereum ETF issuers, including industry giants BlackRock and VanEck, submitted their initial draft S-1 forms to the SEC. The regulator will now begin the review process, providing feedback and requesting amendments. Industry insiders expect at least two rounds of draft filings before a final decision is made.
🚨NEW: @SECGov Chairman @GaryGensler says the next step in the $ETH ETF approvals “will take some time,” possibly indicating a potential slow-walk of the S-1 approval process. https://t.co/iwfN9vvmt8
— Eleanor Terrett (@EleanorTerrett) June 5, 2024
In contrast to the relatively straightforward path of #BitcoinETF💰💰💰 approvals, the altcoin landscape appears to be murkier, according to market participants. While unanimous approval would mark a pivotal moment for the market, recent events have created uncertainty. For example, Hashdex's withdrawal of its application for undisclosed reasons has left market participants questioning the overall trajectory of Ethereum ETFs.
Attention now shifts to the SEC's stance on the crypto market and the ongoing developments in #BitcoinETFs! , as liquidity in traditional financial markets is hundreds of times greater than cryptocurrency. On one side, that does not mean that investors would want to increase their risk by switching to altcoins, and vice versa - they may shift some funds from #BitcoinETFs in a search of extra profits.
#BnbAth #StartInvestingInCrypto
💵 Flows into spot #BitcoinETFs yesterday = $886,750,000!
4.06 saw the second largest daily #inflows into #BitcoinETFs! since launch.
#BnbAth #StartInvestingInCrypto
4.06 saw the second largest daily #inflows into #BitcoinETFs! since launch.
#BnbAth #StartInvestingInCrypto
#inflows into spot #BitcoinETFs continued for the 15th day in a row
📈 On June 3, inflows into 11 approved spot #BitcoinETFs! totaled $105.1 million. The positive trend continued for 15 days in a row, according to SoSoValue. 💰 During this period, the segment attracted $2.28 billion. Since the registration of products — $13.96 billion.
👀 A longer trend (at 17 trading days) was observed only once — in January, after the launch of ETF trading. But the rate of receipts has significantly decreased compared to the peak values of March. 🤷
✔️ According to BitcoinTreasuries, the total volume of bitcoin products at the disposal of issuers reached 1,035,233 $BTC ($71.4 billion), which is equivalent to 4.93% of the bitcoin emission. Specifically, #BlackRock 's IBIT owns 291,563 BTC (1.39%), GBTC owns 286,957 BTC (1.37%).🧐
#BnbAth
📈 On June 3, inflows into 11 approved spot #BitcoinETFs! totaled $105.1 million. The positive trend continued for 15 days in a row, according to SoSoValue. 💰 During this period, the segment attracted $2.28 billion. Since the registration of products — $13.96 billion.
👀 A longer trend (at 17 trading days) was observed only once — in January, after the launch of ETF trading. But the rate of receipts has significantly decreased compared to the peak values of March. 🤷
✔️ According to BitcoinTreasuries, the total volume of bitcoin products at the disposal of issuers reached 1,035,233 $BTC ($71.4 billion), which is equivalent to 4.93% of the bitcoin emission. Specifically, #BlackRock 's IBIT owns 291,563 BTC (1.39%), GBTC owns 286,957 BTC (1.37%).🧐
#BnbAth
The $BTC ETF experienced an impressive total net inflow of $105,000,000 yesterday 🚀
What's even more remarkable is that this marks the 15th consecutive day of inflows into the ETF.
The consistent investor interest is a strong indication of the growing confidence in Bitcoin as a valuable investment.
As more investors recognize the potential of Bitcoin and seek exposure to the cryptocurrency market, we can expect further developments and exciting opportunities ahead.
#cryptoinvesting #BitcoinETFs! #BlackRock #StartInvestingInCrypto
What's even more remarkable is that this marks the 15th consecutive day of inflows into the ETF.
The consistent investor interest is a strong indication of the growing confidence in Bitcoin as a valuable investment.
As more investors recognize the potential of Bitcoin and seek exposure to the cryptocurrency market, we can expect further developments and exciting opportunities ahead.
#cryptoinvesting #BitcoinETFs! #BlackRock #StartInvestingInCrypto
Dynamics of funds inflow into spot Bitcoin ETFs
Inflows of money have been recorded for two weeks now, although they have slowed down recently. $BTC
#BitcoinETFs! #BTC
Inflows of money have been recorded for two weeks now, although they have slowed down recently. $BTC
#BitcoinETFs! #BTC
#SPOT BITCOIN ETFs IN HONG KONG IS EXPECTED TO DRAW IN $1BILIION
*Fee Structures and Comparative Analysis with Existing Spot Bitcoin ETFs*
Hong Kong’s new spot Bitcoin ETFs and Ether Exchange Traded Funds (ETFs) are about to start, and they will have fees of around 1-2%.
These fees can affect how many people, both regular and big investors, decide to invest.
For example, other ETFs from CSOP have fees of 2% plus about 2% more in other costs. But a Samsung ETF has lower fees, at about 0.95%.
These new spot Bitcoin ETFs’ fees are important especially when compared to other ETFs already out there.
Lower fees might make more people want to invest, but higher fees could make these new ETFs less attractive, especially when other ETFs are also an option.
People will have to think about the fees and how much they could make from their investment, as well as how easy it is to invest in these new ETFs.
He also thinks that a lot depends on how things improve and how much the ecosystem for these digital assets grows. He says this could help Hong Kong become a leader in the Asia region for ETFs.
*Conclusion*
In conclusion, Hong Kong’s new spot Bitcoin and Ether Exchange Traded Funds (ETFs) are expected to attract significant attention and investment, despite regulatory hurdles and fee structures.
While challenges exist, such as restrictions for Mainland China investors and varying fee comparisons with existing ETFs, the introduction of these ETFs marks a significant milestone for Hong Kong’s financial market.
With projections of up to $1 billion in assets under management within the first two years, Hong Kong is positioning itself as a key player in the global cryptocurrency market.
Visit: Dipprofit.com for daily news and latest airdrop updates.
#ETFs✅ #BitcoinETFs! #bitcoinhalving #BullorBear #Memecoins
*Fee Structures and Comparative Analysis with Existing Spot Bitcoin ETFs*
Hong Kong’s new spot Bitcoin ETFs and Ether Exchange Traded Funds (ETFs) are about to start, and they will have fees of around 1-2%.
These fees can affect how many people, both regular and big investors, decide to invest.
For example, other ETFs from CSOP have fees of 2% plus about 2% more in other costs. But a Samsung ETF has lower fees, at about 0.95%.
These new spot Bitcoin ETFs’ fees are important especially when compared to other ETFs already out there.
Lower fees might make more people want to invest, but higher fees could make these new ETFs less attractive, especially when other ETFs are also an option.
People will have to think about the fees and how much they could make from their investment, as well as how easy it is to invest in these new ETFs.
He also thinks that a lot depends on how things improve and how much the ecosystem for these digital assets grows. He says this could help Hong Kong become a leader in the Asia region for ETFs.
*Conclusion*
In conclusion, Hong Kong’s new spot Bitcoin and Ether Exchange Traded Funds (ETFs) are expected to attract significant attention and investment, despite regulatory hurdles and fee structures.
While challenges exist, such as restrictions for Mainland China investors and varying fee comparisons with existing ETFs, the introduction of these ETFs marks a significant milestone for Hong Kong’s financial market.
With projections of up to $1 billion in assets under management within the first two years, Hong Kong is positioning itself as a key player in the global cryptocurrency market.
Visit: Dipprofit.com for daily news and latest airdrop updates.
#ETFs✅ #BitcoinETFs! #bitcoinhalving #BullorBear #Memecoins
Bitcoin Halving is approaching! As mining rewards halve, a potential
price surge may follow. Exciting era for crypto investors! Halving plays
a key role in Bitcoin's ecosystem, limiting supply. Stay tuned!
#BTC #Launchpool #BitcoinETFs! #BinanceEarnings
price surge may follow. Exciting era for crypto investors! Halving plays
a key role in Bitcoin's ecosystem, limiting supply. Stay tuned!
#BTC #Launchpool #BitcoinETFs! #BinanceEarnings
🔥Hong Kong Approves Spot Bitcoin, Ether ETFs: Closer to Become Global Crypto Hub
On April 15, 2024, Hong Kong authorities provisionally approved spot #ETFs for $BTC and $ETH , leading to a strong recovery in their prices after a weekend of sharp declines.
This move not only brings opportunities for investors to diversify their portfolios but also strengthens Hong Kong's position as an international financial center and a hub for virtual assets, directly competing with the United States, which had previously approved #BitcoinETFs! but showed no signs of approving #EthereumETF
On April 15, 2024, Hong Kong authorities provisionally approved spot #ETFs for $BTC and $ETH , leading to a strong recovery in their prices after a weekend of sharp declines.
This move not only brings opportunities for investors to diversify their portfolios but also strengthens Hong Kong's position as an international financial center and a hub for virtual assets, directly competing with the United States, which had previously approved #BitcoinETFs! but showed no signs of approving #EthereumETF
🚀 Next Stop for Bitcoin: A $100,000 Token Price in 2024?
As Bitcoin continues its impressive 160% surge over the past year, eyes turn toward 2024 with anticipation. Here's a breakdown of the key factors shaping Bitcoin's potential journey:
🔍 Regulatory Winds: Spot Bitcoin ETF Approval on the Horizon?
The much-anticipated approval of the first spot Bitcoin ETF might become a reality in 2024, potentially unlocking significant new avenues for investment.
Regulatory approval could signal a transformative shift, analogous to the impact seen with the launch of the first U.S. gold ETF in 2003.
📈 Investment Landscape: Evaluating Portfolio Allocations
Investors, after a stellar year for stocks, are advised to reassess their portfolios. Considerations include potential interest rate cuts, economic indicators, and the volatility typically associated with election years.
Bitcoin, often termed digital gold, emerges as a compelling alternative asset, with its value largely influenced by supply and demand dynamics.
🌐 Global Economic Outlook: Is Bitcoin Recession-Proof?
Despite recurring recession warnings, economic indicators suggest a resilient U.S. economy. Bitcoin, traditionally viewed as a store of value, might offer stability amid potential market uncertainties.
💡 2024 Catalysts: Election-Year Volatility and Bitcoin Halving
The upcoming election year introduces the likelihood of increased market volatility, creating opportunities for alternative assets like cryptocurrency.
Anticipation builds around the Bitcoin halving in 2024, historically triggering renewed buying activity and pushing the cryptocurrency to new highs.
🚨 Market Speculation and Future Potential
While Bitcoin's current price around $42,000 per token may seem high, potential catalysts could propel it much higher in 2024.
📈 For real-time updates and expert insights, follow The Blockopedia. Uncover the Future of Finance! 🌐
#BitcoinUpdate #BitcoinETFs! #crypto #cryptocurrency #crypto2023
As Bitcoin continues its impressive 160% surge over the past year, eyes turn toward 2024 with anticipation. Here's a breakdown of the key factors shaping Bitcoin's potential journey:
🔍 Regulatory Winds: Spot Bitcoin ETF Approval on the Horizon?
The much-anticipated approval of the first spot Bitcoin ETF might become a reality in 2024, potentially unlocking significant new avenues for investment.
Regulatory approval could signal a transformative shift, analogous to the impact seen with the launch of the first U.S. gold ETF in 2003.
📈 Investment Landscape: Evaluating Portfolio Allocations
Investors, after a stellar year for stocks, are advised to reassess their portfolios. Considerations include potential interest rate cuts, economic indicators, and the volatility typically associated with election years.
Bitcoin, often termed digital gold, emerges as a compelling alternative asset, with its value largely influenced by supply and demand dynamics.
🌐 Global Economic Outlook: Is Bitcoin Recession-Proof?
Despite recurring recession warnings, economic indicators suggest a resilient U.S. economy. Bitcoin, traditionally viewed as a store of value, might offer stability amid potential market uncertainties.
💡 2024 Catalysts: Election-Year Volatility and Bitcoin Halving
The upcoming election year introduces the likelihood of increased market volatility, creating opportunities for alternative assets like cryptocurrency.
Anticipation builds around the Bitcoin halving in 2024, historically triggering renewed buying activity and pushing the cryptocurrency to new highs.
🚨 Market Speculation and Future Potential
While Bitcoin's current price around $42,000 per token may seem high, potential catalysts could propel it much higher in 2024.
📈 For real-time updates and expert insights, follow The Blockopedia. Uncover the Future of Finance! 🌐
#BitcoinUpdate #BitcoinETFs! #crypto #cryptocurrency #crypto2023
Cboe has approved Fidelity's application for the "listing of the Shares of the Trust" for their spot #BitcoinETFs!
Now, read my Quoted Post. ✌️✌️
Now, read my Quoted Post. ✌️✌️
LIVE
BNB Nepal
--
Hausse
FUD is real but don't get trapped under it's roof. Don't do panic sell as it will recover sooner. I haven't sold any tokens yet.
HODL Tight!!!
Have seen lot's of upside-down and don't let your emotions follow it. Patience is the key!!!
Just remember above 👆👆
HODL Tight!!!
Have seen lot's of upside-down and don't let your emotions follow it. Patience is the key!!!
Just remember above 👆👆
✅ Those Who Are Saying That SEC Deleted Announcement, Gary Back Again. This Time to Confirm the Approval !
▶️ SOURCE : https://www.sec.gov/news/statement/gensler-statement-spot-bitcoin-011023
▶️ KEY POINTS :
▪️"SEC Disapproved more than 20 Filings for spot Bitcoin ETPs since 2018"
▪️"After Court Ruling against SEC in Grayscale Case, Circumstances have changed and most sustainable path forward is to approve ETPs"
SO GARY ADMITS THAT They Approved it only after losing battle in court against Grayscale
▪️BAD NEWS : "today’s Commission action is cabined to ETPs holding one non-security commodity, bitcoin. It should in no way signal the Commission’s willingness to approve listing standards for crypto asset securities. Nor does the approval signal anything about the Commission’s views as to the status of other crypto assets under the federal securities laws."
Our Take : Basically He hints they treat BTC ETFs as exception to be approved but not other cryptos.
▪️"Investors today can already buy and sell or otherwise gain exposure to bitcoin at a number of brokerage houses, through mutual funds, on national securities exchanges, through peer-to peer payment apps, on non-compliant crypto trading platforms, and, of course, through the Grayscale Bitcoin Trust. Today’s action will include certain protections for investors"
What He try to hint, saying investors can already trade on non-compliant crypto trading platforms, bcoz it is not allowed in US, then how someone can do
▪️"Bitcoin is primarily a speculative, volatile asset that’s also used for illicit activity including ransomware,[4] money laundering,[5] sanction evasion,[6] and terrorist financing.[7]
While we approved the listing and trading of certain spot bitcoin ETP shares today, we did not approve or endorse bitcoin."
Again BS Rants in the end.
#etf #BitcoinETFs! #ETFApprovalDreams
▶️ SOURCE : https://www.sec.gov/news/statement/gensler-statement-spot-bitcoin-011023
▶️ KEY POINTS :
▪️"SEC Disapproved more than 20 Filings for spot Bitcoin ETPs since 2018"
▪️"After Court Ruling against SEC in Grayscale Case, Circumstances have changed and most sustainable path forward is to approve ETPs"
SO GARY ADMITS THAT They Approved it only after losing battle in court against Grayscale
▪️BAD NEWS : "today’s Commission action is cabined to ETPs holding one non-security commodity, bitcoin. It should in no way signal the Commission’s willingness to approve listing standards for crypto asset securities. Nor does the approval signal anything about the Commission’s views as to the status of other crypto assets under the federal securities laws."
Our Take : Basically He hints they treat BTC ETFs as exception to be approved but not other cryptos.
▪️"Investors today can already buy and sell or otherwise gain exposure to bitcoin at a number of brokerage houses, through mutual funds, on national securities exchanges, through peer-to peer payment apps, on non-compliant crypto trading platforms, and, of course, through the Grayscale Bitcoin Trust. Today’s action will include certain protections for investors"
What He try to hint, saying investors can already trade on non-compliant crypto trading platforms, bcoz it is not allowed in US, then how someone can do
▪️"Bitcoin is primarily a speculative, volatile asset that’s also used for illicit activity including ransomware,[4] money laundering,[5] sanction evasion,[6] and terrorist financing.[7]
While we approved the listing and trading of certain spot bitcoin ETP shares today, we did not approve or endorse bitcoin."
Again BS Rants in the end.
#etf #BitcoinETFs! #ETFApprovalDreams
Bitcoin (BTC) Price is Not Prepared for New ATH Soon: Analyst
#etf Bitcoin (#BTC ) price is not prepared to retest its All-Time High (ATH), top market analyst CryptoCon revealed on the X platformMarket analyst, known on X as CryptoCon has shared a bold comment, revealing that Bitcoin ($BTC ) price is not prepared to retest its All-Time High (ATH) soon.Bitcoin (BTC) Price to ATH: Not a Near-Term EventAt the moment, many people are agog with the prospects that Bitcoin (BTC) price holds with the likelihood of the United States Securities and Exchange Commission (SEC) approving the launch of a spot #BTCETF , a move that can trigger an immense growth in the price of the premier digital currency.Despite this likelihood, CryptoCon said he believes that should Bitcoin (BTC) price soar, it may not touch the ATH. He based his forecast on the fact that the coin crossed above the Commodity Channel Critical Zone. The analyst noted that Bitcoin has formed a pinnacle inside the CCI Critical Zone as has presented itself in a series of examples where the coin recorded a near 30% decline.CryptoCon said the rally of Bitcoin’s (BTC) price toward the $45,000 price mark as recorded in December 2023 is bound to be trailed by a cool-down in the next few months. He believes these cooldown periods generally take a long time before it is resolved. On the spot #BitcoinETFs! potentials, the analyst posited that the speculation trailing this rare product is almost over, and many investors are staying in a safe zone to see how the price shapes up. However, CryptoCon believes the Bitcoin price data has made its position clear.So When is Bitcoin ATH Coming?In follow-up posts on X, CryptoCon was grilled by members of the Bitcoin community and he later got to share his forecast for when the next Bitcoin ATH could be expected post ETF approval and #bitcoinhalving .He noted that Bitcoin (BTC) price may start eyeing the new ATH anytime after November 28, 2024. He gave the projection based on the Halving Cycles Theory which ultimately shows that Bitcoin’s price started gaining traction months after the halving.As seen in the last halving in May 2020, Bitcoin did not attain its ATH until November 2021. Should the same trend play out, BTC’s ATH might come later per the projection from CryptoCon.His forecast, however, contradicts the bullish calls from other industry experts and firms like Bitwise that foresees the coin jumping to $80,000 after the approval and launch of the spot Bitcoin ETF. At the time of writing, Bitcoin is price at $43,926, up by 0.58% in the past 24 hours.🗣🗣Empower Our Mission: Tips For Dedicated Service. 🗣🗣👉Users are encouraged to support the mission by offering generous tips.🗣This empowers creators to work even harder, ensuring the continued delivery of top-notch investment advice. @WISE CRYPTO NEWS
🌟🚀 "🔥💸 Breaking News: Crypto Chaos or Opportunity? 📈🔮 Bitcoin's rollercoaster ride continues! 💰💡 Expert predictions on altcoins rising! 🌐🔒 NFT mania - a passing fad or the future of art? Stay ahead in the crypto universe! #CryptoNews🔒📰🚫 s #BitcoinETFs! #NFTInscriptions s #InvestingAdventure Insights" 🌟✨
