As the U.S. federal government — acting through its Securities and Exchange Commission — continues to valiantly protect investors and the public interest from the grave dangers of a spot Bitcoin exchange-traded fund, one major American city after another begin embracing or at least exploring the potential of crypto and blockchain technology to improve various aspects of city finance, administration and residents’ monetary well-being. Following the lead of Miami, New York, Tampa and Jackson, Tennessee, it is now Philadelphia that is looking into the ways to implement blockchain solutions in city government. The hope is that a series of city …

VanEck, one of the first United States-based asset managers to file for a Bitcoin (BTC) exchange-traded fund (ETF), is finally launching its Bitcoin futures ETF. According to an official notice by the Chicago Board Options Exchange (CBOE), VanEck’s Bitcoin Strategy ETF will start trading on CBOE under the ticker symbol XBTF on Nov. 16. VanEck’s new ETF is joining the growing number of BTC futures-based ETFs launched in the United States, including ProShares’ Bitcoin Strategy ETF, which became the first Bitcoin futures ETF to start trading on the New York Stock Exchange on Oct. 19. Valkyrie’s Bitcoin Strategy ETF started …

Bears swooped in to seize the upper hand on Nov. 12 after news that the United States Securities and Exchange Commission (SEC) had rejected the VanEck spot Bitcoin (BTC) Exchange Traded Fund (ETF) application made ripples through the crypto-sphere and deflated the bullish momentum that had been building throughout the week. While many investors had high hopes that the passage of a spot BTC ETF would send the price of Bitcoin to the coveted $100,000 price level, its denial was expected by others, including Bloomberg senior ETF analyst Eric Balchunas, who placed the odds of the SEC approving the VanEck …

Welcome to the latest edition of Cointelegraph’s decentralized finance (DeFi) newsletter. Ethereum Name Service announced a retroactive token airdrop this week to a fanfare of crypto enthusiasts. If you happen to own a .eth domain, read on to discover how you can claim your eligible tokens. What you’re about to read is the smaller version of this newsletter. For the full breakdown of DeFi’s developments over the last week, subscribe below. “The DAO space has matured,” says ENS' director of operations Domain protocol Ethereum Name Service distributed its native ENS governance token this week in an airdrop event to early …

The U.S. Securities and Exchange Commission, or SEC, has officially disapproved asset manager VanEck’s spot Bitcoin exchange-traded fund months after the firm submitted its application. According to a Nov. 12 filing, the SEC rejected a proposed rule change from the Cboe BZX Exchange to list and trade shares of VanEck’s Bitcoin (BTC) Trust. Specifically, the SEC said any rule change in favor of approving the ETF would not be “‘designed to prevent fraudulent and manipulative acts and practices” nor “protect investors and the public interest.” “The Commission concludes that BZX has not met its burden under the Exchange Act and …

Ether (ETH) bulls seem excited with the recent $4,870 all-time high that was hit on Nov. 10. While it was a new high in USD, ETH price is still 51% below June 2017’s price in Bitcoin (BTC) terms but it’s entirely possible that the 0.155 BTC level reached in the previous cycle reflected the overzealous expectations that were rampant during the initial coin offer (ICO) frenzy. The Ethereum network’s own success caused congestion and high fees, bringing the competition closer. For example, in mid-2017, the leading “competitors” would have been Ethereum Classic (ETC) and NEM (XEM) and combined, those represented …

Bitwise Asset Management has withdrawn its application for a Bitcoin (BTC) futures-based exchange-traded fund (ETF) amid a number of such products launching in the United States. While dropping its futures-linked ETF, the firm is still bullish on a spot Bitcoin ETF, which is designed to track Bitcoin directly, Bitwise chief investment officer Matt Hougan announced on Nov. 10. Hougan said that Bitwise’s spot filing remains intact and the firm will continue its efforts to launch such a product in the United States: “Ultimately, what many investors want is a spot Bitcoin ETF. We think that's possible. So Bitwise will continue …

Since its launch on Oct. 19 Proshares’ Bitcoin futures exchange-traded fund (ETF) has been a popular choice with traders, rising to the top 2% of all ETFs in terms of total trading volume. Bloomberg’s Senior ETF analyst Eric Balchunas noted on Nov. 11 that the ProShares Bitcoin Strategy ETF (BITO) had $400 million worth of shares traded yesterday, with its average volume consistently putting it in the top 2% of all ETFs. $BITO and $BTF both had their biggest volume days in about two weeks. $BITO with a $400m traded, which is not only a ton but = 25% turnover …

SEC Commissioner Caroline Crenshaw has highlighted the benefits of Decentralized Finance while warning of the dangers of failing to embrace a protective regulatory framework in a Nov. 9 opinion piece. The article, DeFi Risks, Regulations, and Opportunities, is the first in the inaugural issue of “The International Journal of Blockchain Law.” In it, Crenshaw outlines her belief that the DeFi community must address issues with transparency and pseudonymity while coming into compliance with SEC rules: “In the brave new DeFi world, to date there has not been broad adoption of regulatory frameworks that deliver important protections in other markets.” Regarding …

Coinbase (COIN) shares have taken a hit after the firm posted a 75% decrease in net income during the third quarter. COIN closed Nov. 9 with a 0.98% gain at a price of $357.39, however the release of the leading U.S. exchange’s Q3 report after market close has coincided with a dip of around 13.10% (at time of this writing) in after-hours trading. Coinbase posted revenue of $1.235 billion in Q3 falling well below analyst estimates according to FactSet of $1.614 billion. The firm’s profits totaled $406 million, marking a 74.7% decrease in profit compared to the previous quarter, although …

United Kingdom-based crypto mining company Argo Blockchain will be funding part of the building and equipment of its planned 800-megawatt data center in West Texas through an offering of senior notes. According to a Nov. 8 filing with the Securities and Exchange Commission, Argo plans to offer $57.5 million worth of 8.75% senior unsecured notes set to mature on Nov. 30, 2026. The company said it intends to use the proceeds for rigs at its Texas crypto mining facility as well as construction costs. Argo broke ground on the 200 MW crypto mining facility based in July, reporting the site …

Cryptocurrency lending firm BlockFi has filed paperwork with the United States Securities and Exchange Commission, or SEC, to launch a physically-backed Bitcoin exchange-traded fund, kicking off what's expected to be a big week for the crypto markets The Form S-1 filing for BlockFi NB Bitcoin ETF was submitted to the SEC on Nov. 8, according to official documents. The filing states that BlockFi will serve as custodian and that the ETF’s investment objective is to reflect the underlying performance of Bitcoin as opposed to any futures or derivatives benchmark. The filing further states that the “Trust will not purchase or …