U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler has repeated earlier warnings about crypto "non-compliance" being a global "Wild West," as speculative fever for BTC exchange-traded funds continues to swelter, with monolithic asset manager Blackrock revealing a plan to seed its own ETF with $10 million on Jan. 3. This and more just below, in the year's final Bitcoin.com News Week in Review.
SEC Chair Gary Gensler Issues Crypto Warnings as Anticipation of Spot Bitcoin ETF Approval Soars
U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler has issued warnings regarding cryptocurrency investments. "There is a lot of noncompliance in the crypto space," he stressed, emphasizing that it "undermines confidence when so many people have been hurt and all they can do is stand in line in the bankruptcy court." Gensler's warnings came as the market expects imminent approvals of spot bitcoin exchange-traded funds (ETFs).
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Grayscale Adopts Cash Model for Spot Bitcoin ETF but Warns of 'Adverse Consequences'
Grayscale Investments has adopted the cash creation model, instead of the in-kind model, for its proposed spot bitcoin exchange-traded fund (ETF). However, the crypto asset manager warned of adverse consequences. "A spot commodity exchange-traded product that only employs cash creations and redemptions and does not permit in-kind creations and redemptions is a novel product that has not been tested, and could be impacted by any resulting operational inefficiencies," the firm's filing with the U.S. Securities and Exchange Commission (SEC) details.
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Latam Insights: El Salvador Passes Bitcoin Citizenship Law, Argentina to Allow Crypto Denominated Contracts
Welcome to Latam Insights, a compendium of Latin America's most relevant crypto and economic news during the last week. In this issue: El Salvador passes a Bitcoin donation citizenship law, Argentina will allow the settlement of crypto-denominated contracts, and President Milei moves to deregulate Argentina.
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Blackrock Reveals Plan to Seed Spot Bitcoin ETF With $10 Million on January 3
Blackrock has revealed a plan to seed its spot bitcoin exchange-traded fund (ETF) with $10 million on Jan. 3. The world's largest asset manager has engaged in six recent meetings with the U.S. Securities and Exchange Commission (SEC) to address its filing. In response to the SEC's concerns, the firm has opted for the cash creation model, departing from its initial preference for the in-kind model.
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What are your thoughts on BTC exchange-traded funds? You can let us know in the comments section below.
Source: Bitcoin.com
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