Former Securities and Exchange Commission (SEC) chairman Jay Clayton has said that a spot Bitcoin (BTC) exchange-traded fund (ETF) is likely to get approved if it can be shown that the Bitcoin spot market offers the same “efficacy” as the futures market.
“If they’re [applicants] right—that the spot market has similar efficacy to the futures market—it would be hard to resist approving a Bitcoin ETF,” Clayton said in an interview with CNBC on Monday.
He added in the interview that he was “very skeptical” about trading in the Bitcoin market when he was SEC chair, but also admitted that it will be tough for the SEC to argue that a spot-based ETF can’t be approved now that futures-based products already exist.
Clayton also explained that the fact that “institutions that know markets better than anybody” want to put their name on a spot Bitcoin ETF likely means that the spot market for Bitcoin has evolved and matured.
Pakistan Super League had been invited to leave, the Pakistan Cricket Board announced on Tuesday. The PSL defeat games were scheduled to be played in Lahore today, however, the remaining games including Wednesday’s finals have been suspended. Former cricket player Sikander Bakht suggested the unfinished tournament could be completed before the start of next year….
A new exchange-traded fund (ETF) backed by Bitcoin (BTC) futures and with 2x leverage is set to go live on Tuesday after the Securities and Exchange Commission (SEC) appears to have given the greenlight. The ETF, sponsored by Volatility Shares Trust, will be listed on the CBOE BZX Exchange under the ticker BITX, according to an SEC filing….
A French real estate firm has signed a partnership deal with domestic crypto pay provider, an indication that the European nation may be the next to embrace crypto-powered commerce. Per Boursier, Apsys will allow customers to pay using crypto at all of its shopping malls. The firm operates the malls L’Heure Tranquille in Tours, Les Rives de l’Orne in Caen,…
ISLAMABAD: Special Assistant to the Minister of Information and Broadcasting Dr Firdous Ashiq Awan said on Friday evening that Pakistan is looking at “full townships” for two weeks as a result of the coronavirus protests as the number of cases continues to rise in the country. Dr Firdous disclosed this during the Geo News ‘Naya…
Arbitrum Network-based Rodeo Finance lost 472 ether ($888,000) in a DeFi exploit today. Blockchain security firm PeckShield revealed that the Rodeo Finance hacker transferred the stolen funds from Arbitrum to Ethereum. Further analysis revealed that the attacker exchanged the stolen tokens for various other assets before converting them back to ether. Hackers once again used Oracle manipulation…
Binance Labs and CoinFund have co-led a $10 million funding round for Neutron, a cross-chain smart contract platform focused on interchain security within the Cosmos ecosystem. Binance Labs, the investment arm of leading cryptocurrency exchange Binance, took the lead in the funding round, Binance said in a Wednesday blog post. Cryptonative investment firm CoinFund co-led the funding. Delphi Ventures, LongHash, and Nomad also participated in the round….