Gary Gensler’s job at risk, BlackRock’s first spot Bitcoin ETF and other news: Hodler’s Digest, June 11-17
Cointelegraph
Published Jun 17, 2023 05:42PM ET
Updated Jun 17, 2023 06:00PM ET
United States Representative Warren Davidson has introduced the SEC Stabilization Act into the House of Representatives. One of the bills main provisions is to fire Securities and Exchange Commission (SEC) Chair Gary Gensler. The bill would remove Gensler from office and redistribute power between the SEC chair and commissioners. It would also add a sixth commissioner to the agency, disallow any party from holding a majority on the commission and create an executive director position. The SEC declined to comment on the matter.
BlackRock (NYSE:BLK), the worlds largest investment company, has filed an application for a Bitcoin spot exchange traded fund (ETF). It would be the first crypto spot ETF in the United States, if it receives approval. According to the filing, Coinbase (NASDAQ:COIN) Custody Trust Company would be the custodian of the fund and Bank of New York Mellon (NYSE:BK) would custody its fiat. The SEC has not approved a spot Bitcoin ETF so far despite numerous applicants. The worlds first spot traded Bitcoin ETF was Canadas Purpose Bitcoin ETF, set up in early 2021.
Read also
Features
Columns
/h3
Subscribe
The most engaging reads in blockchain. Delivered once a week.
Get The News You Want
Read market moving news with a personalized feed of stocks you care about.
Get The App
Continue Reading on Coin Telegraph
Written By: Cointelegraph
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed. Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website. Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
Get The News You Want
Read market moving news with a personalized feed of stocks you care about.
Get The App