• BlackRock files S-1 form for spot Ether ETF with SEC
BlackRock, the world’s largest asset manager, officially filed for a spot Ether exchange-traded fund (ETF) with the United States Securities and Exchange Commission (SEC) on Nov. 15.
The Ether ETF, dubbed the iShares Ethereum Trust, aims to “reflect generally the performance of the price of Ether,” read the S-1 filed with the SEC. The iShares brand is associated with BlackRock’s ETF products, with its Bitcoin ETF called the iShares Bitcoin Trust. The trust appoints Coinbase as the custodian for the underlying ETH.
The move by BlackRock comes nearly a week after it registered the iShares Ethereum Trust with Delaware’s Division of Corporations and almost six months after it filed its spot Bitcoin ETF application.
• SEC Needs More Time on Grayscale Ethereum Futures ETF
The U.S. Securities and Exchange Commission has delayed a decision on the Grayscale Ethereum futures exchange-traded fund (ETF).
Grayscale Investments filed to the Wall Street regulator back in September. The fund would allow investors to buy shares that bet on the future price of Ethereum (ETH), the second-biggest digital asset by market cap.
But the SEC said on the 15th that it would delay the decision. The SEC regularly extends the period it has to give decisions on crypto products.
“The Commission finds it appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change and the issues raised therein,” the SEC wrote in its filing.
• Turkey mulls addressing licensing and taxation in new crypto rule
Turkey is reportedly considering regulations for its crypto market, focusing on licensing and taxation. The aim is to remove the country from the “grey list” of the Financial Action Task Force (FATF), as Turkey ranks fourth globally in crypto trading.
According to a Reuters report, Bora Erdamar, a director at the BlockchainIST Center — a blockchain technology research and development center — said the upcoming crypto regulations will prioritize implementing specific licensing standards to prevent system abuse. Erdamar added that the regulations may encompass factors such as capital adequacy standards, enhancements in digital security, custody services and verification of reserves.
Turkey also aims to respond to issues highlighted by the Paris-based FATF, which, in 2021, included the country in its “gry list” of nations susceptible to money laundering and other financial crimes.
• Crypto Is Second Most Popular Investment Asset In France
According to a poll conducted by the Organisation for Economic Co-operation and Development (OECD) and published on November 13 by France’s main financial regulator, the Autorité des Marchés Financiers, cryptocurrencies are the second most popular type of investment asset among the adult French population.
According to the survey, 9.4% of the French population owns crypto assets, which is only slightly lower than the 10.7% who own the most popular type of investment asset, real estate funds. A further 2.8% of respondents possess nonfungible tokens.
The poll also tracked the number of “new investors” who made their first investment since the COVID-19 outbreak began in March 2020. The majority of new investors (64%) are men, and they are substantially younger than traditional investors, with an average age of 36 versus 51 for the latter. 54% of those in this category own crypto assets.
• No civil protection for crypto in China, $300K to list coins in Hong Kong? Asia Express
Hashkey Exchange, one of the first regulated crypto exchanges in Hong Kong has announced insurance coverage for clients assets stored in its hot and cold wallets. accounts. The policy will cover 50% of Hashkey’s digital assets in cold wallets and 100% of digital assets in hot wallets, paying out from $50 million to $400 million in the event of a claim.
Hashkey’s partnership with fintech OneDegree will also see the pair co-develop novel crypto security solutions for the exchange to manage server downtime, data back-up, and load control. “Getting insurance cover from OneInfinity by OneDegree not only fulfills the Securities and Futures Commission requirements, we believe the collaboration can also enhance our financial, technical, and service infrastructure to provide our customers with comprehensive protection,” said Livio Wang, chief operating officer of Hashkey Group.
• FTX Foundation staffer fights for $275K bonus promised by SBF
An employee of FTX’s charity wing recruited by FTX co-founder Sam Bankman-Fried is trying to get paid $275,000, the remainder of his claimed 2022 salary bonus.
Ross Rheingans-Yoo’s lawyers argued in a Nov. 13 court filing that only $375,000 of his $650,000 bonus was paid by FTX. They claim the remaining funds were owed when the crypto exchange filed for bankruptcy in November 2022.
Rheingans-Yoo’s latest filing comes in response to FTX’s objection filed on Oct. 30.
Concluding Notes:
- BlackRock files S-1 form for spot Ether ETF
- SEC Needs More Time on Grayscale Ethereum Futures ETF
- Turkey mulls addressing licensing and taxation in new crypto rule
- Crypto Is Second Most Popular Investment Asset In France
- No civil protection for crypto in China
- FTX Foundation staffer fights for $275K bonus promised by SBF
