NFT News Today Official TheBitTimes.com

The United States Securities and Exchange Commission (SEC) has again postponed its decision concerning spot Bitcoin ETFs. This time, the deferred applications belong to investment management behemoth Blackrock. Moreover, Invesco, Valkyrie, and Bitwise have also seen their crypto initiatives put on hold. Most of these firms had initiated their applications for a spot Bitcoin ETF in June 2023. The first postponement from the SEC surfaced in late August 2023. In their recent declaration, the SEC mentioned, “The Commission is instituting proceedings… to determine whether the proposed rule change should be approved or disapproved.” The SEC emphasized that this move doesn’t imply any predetermined conclusions. Interestingly, this announcement came on the heels of a robust interrogation of Gary Gensler, the SEC Chairman, during a Congressional hearing. At the Wednesday (27 September) session, Gensler maintained his cautious perspective on the crypto arena. The SEC...

Also Read: Ripple Vs SEC: Key Executives Signal Trial Readiness for Q2 2024 advertisement Blackrock Investments In Bitcoin Mining Companies The world’s largest asset manager, Blackrock, is said to be holding more half a billions dollars worth of shares in Bitcoin mining companies, which also includes publicly listed companies. Greenpeace USA, an affiliate of environmental nonprofit organization Greenpeace International, had earlier in August 2023 revealed findings from its research on Blackrock investments. “Greenpeace USA research finds that BlackRock controls nearly $600 million worth of shares in Bitcoin mining companies and has shares in most of the large publicly traded miners. These investments are vital for mining companies to access funding for their energy-intensive facilities.” In a latest, some popular crypto Twitter accounts too have reported the same: Recommended Articles ...

BlackRock has filed for regulatory approval of a bitcoin ETF. The SEC has never approved one, but investment giant has a nearly flawless track record when applying for ETFs: over 500 approvals per one denial. Unlike the over-the-counter traded Grayscale Bitcoin Trust (GBTC), which Barry Silbert’s Grayscale would like to convert into an ETF, BlackRock could open the door for institutional short-selling of bitcoin via a NASDAQ-listed bitcoin ETF. BlackRock’s proposed bitcoin ETF will almost certainly be DTC eligible, whereas most over-the-counter securities are not. The Depository Trust Company, or DTC, serves as a securities repository with over $32 trillion worth of securities deposited within its system. It’s by far the largest source of US broker ‘borrows,’ also known as ‘locates.’ Put simply, BlackRock’s bitcoin ETF will allow short-sellers to easily locate shares to borrow from the world’s most voluminous trust company. DTC processes quadrillio...

JPMorgan Introduces Euro Blockchain Payments for Corporate Clients JPMorgan starts processing Euro-denominated payments with its JPM Coin payment system. JPM Coin went live with euro transactions on Wednesday, Basak Toprak, JPMorgan ’s head of Coin Systems for Europe , the Middle East and Africa, told Bloomberg. advertisement JPM Coin payment system was launched in 2019 to move U.S. dollars. The euro expansion comes as JPM Coin has processed over $300 billion in transactions to date. However, it is still a small part of JPMorgan’s overall payments business, which processes nearly $10 trillion daily. Banks are yet to reap the full benefits of blockchain projects. This expansion indicates JPMorgan ’s continued commitment to leveraging blockchain technology within traditional banking systems. The use of JPM Coin aims to streamline cross-border payments and enhance efficiency for corporate clients. Traditional financial giants are showing massi...