Investment management firm VanEck has issued just 4 Bitcoins (BTC) via its new trust focused on institutional investors. VanEck: one week, one Bitcoin basket Data from the company, spotted by economist and cryptocurrency commentator Alex Krüger on Sept. 10, showed that since its launch at the start of the month, VanEck SolidX Bitcoin Trust 144A Shares total net assets are only $41,400. The product, which caused a buzz after VanEck described it as being akin to an exchange-traded fund (ETF), caters strictly to so-called qualified institutional buyers, or QIBs. “VanEck SolidX Bitcoin Trust 144A Shares… looks and feels like a …

United States Securities and Exchange Commission (SEC) Chairman Jay Clayton recently spoke with CNBC's Bob Pisani regarding the regulator’s latest take on Bitcoin (BTC) exchange-traded funds (ETFs). “Progress is being made” Speaking with Pisani on Sept. 9, the SEC chairman stated that, although significant steps have been taken to address regulatory concerns vis-a-vis a Bitcoin ETF, there is “work left to be done.” Clayton went on to say that the SEC’s questions in regard to Bitcoin ETFs were not trivial, adding: “Given that they trade on largely unregulated exchanges [...] how can we be sure that those prices aren’t subject …

Following another delay on Bitcoin exchange-traded funds (ETFs), asset managers VanEck and SolidX plan to offer a limited version of their Bitcoin ETF to institutional investors. VanEck Securities and SolidX Management want to start selling shares in a limited version of a Bitcoin ETF, using a rule that exempts the shares from securities registration, under which shares can be sold only to certain institutional investors, The Wall Street Journal reported on Sept. 3. VanEck, SolidX Bitcoin ETF launching Sept. 5 According to the report, the investment management firms are planning to start selling on Sept. 5 under the United States …

The CEO of crypto index fund provider Bitwise Asset Management says he’s still positive about the prospect of United States regulators approving a crypto exchange-traded fund (ETF). CEO Hunter Horsley made his remarks during an interview together with Bitwise’s global head of research Matt Hougan for Bloomberg UK on Aug. 15. Seemingly endless deferral As reported, Bitwise filed its latest ETF application with the United States Securities and Exchange Commission (SEC) in January of this year. This week, the regulator postponed its decision on the proposal — together with two other crypto ETF proposals — with the deadline for the …

The United States Securities and Exchange Commission (SEC) has delayed its decision on three Bitcoin (BTC) exchange-traded fund (ETF) proposals. According to documents published on Aug. 12, the SEC has will put off a formal decision on proposed rules changes by NYSE Arca and Cboe BZX Exchange for three Bitcoin ETFs: by asset managers VanEck SolidX, Bitwise Asset Management and Wilshire Phoenix. The SEC announced it has delayed its decision for listing VanEck to Oct. 18, while Bitwise’s listing on NYSE Arca will be delayed to Oct. 13. The decision on Wilshire Phoenix’s United States Bitcoin and Treasury Investment Trust …

Are there any downsides of trading crypto derivatives? All trading strategies related to price fluctuations imply a certain level of risk, especially combined with the lack of relevant regulation for the crypto derivatives sector. When it comes to crypto derivatives, the biggest risk that traders face is volatility. Prices can rise and fall at speeds that make your head spin, and losses can be amplified substantially whenever someone is trading on margin. To better help mitigate these risks, a tiered maintenance margin ratio system has been adopted by OKEx to avoid the liquidation of large positions, events that can have …

United States Securities and Exchange Commission (SEC) Chairman Jay Clayton said that the regulator needs to feel comfortable with cryptocurrency custody and ensure no market manipulation can take place before approving a crypto exchange-traded fund (ETF). Clayton made his remarks during an interview with CNBC on June 6. When Clayton was asked whether an ETF based on a bundle of cryptocurrencies could be released in the U.S., Clayton said that the SEC is currently working on making that possible. Still, he also noted that various issues have to be resolved before a cryptocurrency ETF will be approved, starting with custody: …

Hester Peirce, commissioner at the United States securities regulator, has urged for a less cautious approach towards innovation in the exchange-traded funds (ETFs) space on the regulator’s part. The Financial Times reported on her remarks on June 2. Per the report, the Security and Exchange Commission’s (SEC) Peirce called on her co-commissioners to allow for innovation in the ETF space by lessening their caution. She reportedly commented on the SEC’s approach towards this category of highly regulated financial derivatives, noting that the SEC is “still smothering ETFs with personalised attention as if they were infants.” Peirce also noted that she …

At the 1997 edition of the annual Worldwide Developers Conference — an event put together by iPhone-maker Apple Inc. to communicate directly with its community of developers and users — a participant asked founder and then-CEO Steve Jobs the following question: "What do we do about the press? Wall Street Journal reporters get up in the morning, sell Apple short and then go write stories about us. And, it’s clear that it’s perception versus reality. They don’t know s--- about operating systems. They don’t know anything about tools. They don’t know what’s going on in the future. They don’t know …

The Japanese Financial Services Agency (FSA) showed a cautious approach towards cryptocurrency-based exchange-traded funds (ETFs) in comments at the finance committee of the upper house of the National Diet on May 30. Cointelegraph Japan reported on the comments earlier today. Per the report, local politician Takeshi Fujimaki noted during the meeting that he expects a crypto-based ETF to be approved in the United States, citing both positive and negative statements released by United States Securities and Exchange Commission commissioner Hester Peirce. He then noted that such a product would be an important development and that Japan should not be left …

On May 17, bitcoin’s (BTC) price experienced a “flash crash,” dropping to $6,400 within minutes, which was triggered by a 5,000 BTC sell-off — equivalent to around $35 million at the time. An individual investor, speculated to be a whale — an investor holding a significant amount of bitcoin — is said to have placed a massive sell order on Bitstamp, a major bitcoin exchange based in Europe. The sell order caused the price of bitcoin on Bitstamp to briefly drop to $6,400, which then led contracts on BitMEX, popular bitcoin margin trading platform internationally, to be liquidated in a …

Yesterday, the United States Securities and Exchange Commission (SEC) postponed its decision on the VanEck/SolidX bitcoin (BTC) exchange-traded fund (ETF) proposal, signaling that the regulator is still not ready to see crypto-based funds being traded on regulated exchanges. However, while the general sentiment is that the agency will continue to push back, there’s a slight chance that a crypto ETF might come as soon as later this year. What’s an ETF and how can it affect the crypto market? In short, an ETF is a type of an investment fund that is tied to the price of an underlying asset …