What You Need to Know
The SEC extended its 45-day decision timeframe to 90 days on the VanEck Bitcoin Trust.
The move “only delays the inevitable,” lawyer Nick Morgan says.
Cryptocurrency funds are already available in other countries.
The Securities and Exchange Commission has pushed off its decision on whether to approve a Bitcoin ETF for VanEck until at least June 17.
In a filing, the agency extended its 45-day decision timeframe to 90 days for VanEck and Cboe’s application to list a Bitcoin exchange-traded fund.
“The SEC continues to be thoughtful in its evaluation” of a Bitcoin ETF, Ric Edelman, founder of the RIA Digital Assets Council, told ThinkAdvisor on Tuesday in an email. “I am hopeful that the agency will conclude that approval of ETFs in this new asset class is better for investors because lack of such options is forcing investors to choose other paths which are often riskier and more expensive not to mention greater risk of fraud.”
Fidelity Launches Crypto Analytics Platform Sherlock
15 hours ago by Oluwapelumi Adejumo · 3 min read
Photo: Depositphotos
With its Sherlock platform, Fidelity aims to beat competitors in the data analysis space.
Fidelity Investments, a well-known asset manager famous for its foray into the crypto space, has unveiled another ingenious development among its list of services. On the 29th of April, Fidelity revealed a new program it had developed which was capable of analysing and collating data from digital assets. The program, known as Sherlock, will ”collect and perform fundamental and technical data analysis on blockchain, market forces, social sentiment and industry developments.”
Crypto Space Has Hit A Tipping Point Ses Tom Jessop From Fidelity
Last Updated: 09 April 2021
Fidelity, a global investment giant, has had its executives express confidence that the crypto markets will continue in their forward momentum for the foreseeable future.
Jessop Bullish For Crypto
Tom Jessop gave this sentiment on the 8th of April, 2021, when he spoke to MarketWatch. Jessop stands as Fidelity’s Head of Crypto division and is convinced that crypto has allowed for a brand new chapter when it comes to traditional finance. Furthermore, he’s convinced that the entire crypto space is at a tipping point.
April 7, 2021
Soon-to-be public crypto exchange operator Coinbase, fund giant Fidelity, and fintech stalwart Square are among the companies behind the new Crypto Council for Innovation – an organization aimed at giving companies with cryptocurrency exposure a say in how the asset class is regulated.
The Crypto Council for Innovation (CCI) was created by San Francisco-based investment firm Paradigm, which focuses on digital assets.
“This work will require sharing insights and analysis about crypto while correcting the misperceptions that inevitably accompany a transformative new technology,” Gus Coldebella, chief policy officer at Paradigm and one of the organizers of CCI, said in a statement. “We know that crypto holds immense promise for spurring economic growth and creating jobs, improving financial inclusion and access, and enhancing privacy and security – and that promise transcends borders.”
Bitcoin ETF Proposals: The SEC s Long History Of Rejections benzinga.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from benzinga.com Daily Mail and Mail on Sunday newspapers.