Asset managers Grayscale and VanEck have registered to list shares of spot Bitcoin exchange-traded funds (ETFs), joining the latest companies in this movement. Concurrently, South Korea is considering banning the use of credit cards to purchase cryptocurrencies. Matrixport’s founder clarified that their controversial report on spot Bitcoin ETFs was not intended for public release.
In separate filings with the U.S. Securities and Exchange Commission (SEC), VanEck Bitcoin Trust and Grayscale Bitcoin Trust have registered their shares through Form 8-A. VanEck’s shares are planned to be listed on the Cboe BZX Exchange, while Grayscale’s are considered for the New York Stock Exchange Arca. Fidelity also registered this week for its Wise Origin Bitcoin Fund.
The SEC, after a series of rejections and a lost lawsuit, continues to evaluate multiple spot Bitcoin ETF applications, with the financial world awaiting a decision by the end of the week. Some analysts believe the SEC might approve multiple ETFs before January 10.
South Korea’s top financial regulator proposed amendments to the country’s credit finance laws to prohibit citizens from purchasing cryptocurrencies with credit cards. The Financial Services Commission highlighted concerns about illegal monetary movements and money laundering related to crypto purchases from foreign exchanges.
Matrixport’s founder, Jihan Wu, stated that the report causing Bitcoin’s price drop on January 3 was not meant for public dissemination, and the company did not plan for its spread. Wu dismissed the notion that Matrixport was responsible for the market crash and emphasized that the current fluctuations and uncertainty over a potential Bitcoin ETF approval in January 2024 are ultimately insignificant.
