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Bitcoin ETF Might Finally Get SEC Nod Based on Chairman Clayton's Comments

  • Alex Dovbnya
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    SEC Chairman Jay Clayton suggests that Bitcoin ETF approval could be already in the offing

Bitcoin ETF Might Finally Get SEC Nod Based on Chairman Clayton's Comments
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It seems that the U.S. Securities and Exchange Commission (SEC) is warming up to the idea of approving a Bitcoin ETF.

After numerous snubs, SEC Chairman Jay Clayton revealed that they might finally give the green-light.

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The answer is “Yes”

When asked by CNBC’s Bob Pisani whether we are getting closer to seeing a Bitcoin ETF, Clayton succinctly answered “Yes.” However, he added that there was “some work left to be done” in order to let this happen.

Back in June, the SEC head specified that there were a couple of things that needed to get comfortable with (particularly, custody and price manipulations).

These comments slightly increase the chances that a Bitcoin ETF might finally get the regulatory nod in October.

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Skirting regulatory approval

As reported by U.Today, VanEck and SolidX, whose joint Bitcoin ETF proposal is awaiting regulatory approval, decided to launch a limited version of an exchange-traded fund. VanEck SolidX Bitcoin Trust is only available for a limited circle of institutional investors.

With only 4 BTC under management, the demand might not be there (yet). However, Fundstrat’s Tom Lee points out that it might be “too early to judge the success of the product.”

Cover image via en.wikipedia.org
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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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Ripple-Backed Coil Startup and Mozilla Launch $100 Mln Fund to Let Content Makers Earn

  • Yuri Molchan
    📰 News

    Coil startup founded by a former Ripple CTO joins forces with Mozilla, Creative Commons to set up a $100-mln fund that would allow content makers to monetize their content and users to directly encourage web authors they like

Ripple-Backed Coil Startup and Mozilla Launch $100 Mln Fund to Let Content Makers Earn
Contents

As reported by Prenewswire and Coil itself on its official Twitter page, the Ripple-supported startup founded by a former Ripple CTO Stefan Thomas has partnered with such major companies as Mozilla and Creative Commons.

Together they are launching a fund that would provide a $100-mln grant to let content makers earn money on what they produce for various platforms on the Web. Users will also be able to support content valuable for them with cash - something which has not been technically possible to be done directly on platforms since the appearance of the Internet.

Heading for the decentralized Internet

The new fund will be dubbed Grant for the Web. It is going to tackle some crucial issues regarding user privacy and their personal data, fake news spreading, etc. The fund will be working as part of the broader Web Monetization initiative.

The grant of $100 mln will enable developers and content makers to introduce new standards and alternative business models that would let benefit both makers and consumers of online content. The fund will encourage independent creators and help increase inclusion.

The money for the grant will be totally provided by Coil with contributors from Creative Commons and Mozilla helping to implement the initiative. The startup also welcomes those who want to join in and assist in this project.

As per reps of the fund, Coil has developed an add-on for Mozilla Firefox and a desktop extension for Google Chrome (since Firefox uses the Google search engine by default). They also mentioned that in the future collaborations will be struck with other web browsers to get them to participate in the Web Monetization.

As reported by U.Today earlier, recently Ripple took part in an investment round of Coil and also supported the startup with a 1-mln XRP grant.

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The community’s reaction to the news

Some in the community are curious how long it will take to see the first results, like will it be five years or faster, longer.

Grant for the Web replied that the fund is going to run for more than five years. Numerous grants, rewards and initiatives are planned over that period with results to be shared with the community.

Cover image via www.123rf.com
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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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