US Congressmen Sent SEC Letter Advocating For Spot Bitcoin ETF
In a letter sent to SEC Chairman Gary Gensler, two Congressmen articulate why a spot bitcoin ETF should be approved in the U.S.Today, the Securities and Exchange Commission (SEC) Chairman Gary Gensler was sent a letter written by two U.S. Congressmen, Tom Emmer (MN-06) and Darren Soto (FL-09), advocating for the approval of a spot bitcoin exchange-traded fund (ETF) to begin trading in the country.“We question why, if you are comfortable allowing trading in an ETF based on derivatives contracts, you are not equally or more comfortable allowing trading to commence in ETFs based on spot....
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The bipartisan pair sent a letter to the securities regulator demanding spot ETF approval. Congressmen Todd Emmer and Darren Soto sent a bipartisan letter to Securities & Exchange Commission Chair Gary Gensler on Wednesday, strongly questioning why the agency has denied approval for the creation of a Bitcoin spot ETF while allowing Bitcoin Futures ETFs to begin trading.In a spot ETF, the fund holds the actual commodity (in this case bitcoin) whereas in a futures ETF fund holds contracts to buy and sell the commodity at a future date at a specified price. In a press release announcing the....
In a guest post on LeapRate, CEO and Co-Founder at Bitcoin Edge Security Platform for Digital Assets company Airbitz Paul Puey shared an open letter addressed to politicians urging them to allow bitcoin innovation to carry on. Puey shared that these letters were sent to 50 Governors, 100 Senators, and 435 Congressmen warning about the dangers of stifling the developments in the bitcoin industry. He stressed the need to defend bitcoin and for local representatives to do their part in ensuring that its potential is fully understood. Open Letter on Bitcoin. In the letter shared on LeapRate's....
Grayscale Investments has sent a compelling letter to the US Securities and Exchange Commission (SEC), urging the regulatory body to reevaluate its stance on the Grayscale Bitcoin Trust’s conversion into an Exchange-Traded Fund (ETF). The letter, penned by Davis Polk on behalf of Grayscale, highlights the decision by the US Court of Appeals for the […]
Lawmakers in the United States have finally put their foot down and demanded that the US SEC Chairman approve Grayscale’s spot Bitcoin ETF proposal “immediately.” US Congress Imposes Spot Bitcoin ETF Immediate Approval A group of four members of the United States Congress sent a letter to the United States Securities and Exchange Commission (SEC) Chairman, Gary Gensler on Tuesday, September 26 demanding the prompt endorsement of spot Bitcoin ETFs. Related Reading: Early Rejection Of 21Shares Spot Bitcoin ETF Sparks Concerns The letter described major flaws in the US SEC’s rejection of....
Republican House Financial Services Committee members are resisting proposed changes to the 1934 Exchange Act in a letter to the Securities Exchange Commission. Ranking member of the United States House Financial Services Committee Patrick McHenry and ranking member of the Subcommittee on Investor Protection, Entrepreneurship and Capital Markets Bill Huizenga sent a letter Monday to Securities Exchange Commission (SEC) Chairman Gary Gensler to express their concerns about proposed SEC amendments to the Exchange Act of 1934 that would expand the definition of an exchange and the phrase “as....