Episode Details

23rd May: Crypto & Coffee at 8

🟢 Ethereum ETF decision — Political move? 🔵🔴The White House & SEC oppose crypto-focused legislation ❗#BTC & #ETH ETP listed on London Stock Exchange👀SEC fines ICE + more

👁️23rd May! An Ethereum ETF decision will be made today by the U.S. Securities and Exchange Commission Will the approval be a political move to convince more voters from the swing state? BlackRock 19b-4 update is in.

🎙️ We discuss this & more in the Blockchain DXB episode today. We also explain 19b-4 for filing & S1 fillings We also explain Crypto Bill FIT21 by Rep Patrick MCHenry

🟢 Important to note that issuers are hoping to launch spot ether ETFs and are making clear to the SEC that they would not stake ETH held by the funds. Proposed ether ETFs, including those by Fidelity Investments, Franklin Templeton, ARK Investment Management LLC, Invesco US, and VanEck, have clarified in filings that they would not stake the ETH held by the funds. This clarification comes ahead of the SEC’s May 23 deadline to rule on an ether ETF proposal by VanEck.

🔷The White House Opposes Crypto Bill FIT21

🔷 The White House + SEC Chair Gary Gensler oppose the crypto-focused legislation. Statement on the Financial Innovation and Technology for the 21st Century Act can be found here https://tinyurl.com/4hsk8kxy Gensler cited a January Chainalysis report to support his claim that “widespread noncompliance [from crypto firms] has resulted in widespread fraud, bankruptcies, failures, and misconduct.”

❗ However, the analytics platform reported that revenue from illicit activities involving crypto was “down big” in 2023.

👀 WisdomTree has received approval from the Finance Conduct Authority UK to list crypto exchange-traded products (ETPs) on the LSE, making it one of the first applicants to receive such approval. The Physical Bitcoin and Physical Ethereum ETPs will be available to professional investors starting May 28, with fees of 35 basis points. The FCA had previously banned crypto derivatives products but adjusted its stance for professional investors.The listings follow the first approvals by FCA since it relaxed its stance on crypto ETPs, having banned them in 2020. Info via CoinDesk https://tinyurl.com/yc33vn8p

❗ SEC Charges Intercontinental Exchange and Nine Affiliates Including the New York Stock Exchange with Failing to Inform the Commission of a Cyber Intrusion. Official info here https://tinyurl.com/5n96p4bt The SEC fined Intercontinental Exchange, Inc. (ICE) $10 million for not promptly reporting a cyber intrusion in Ap