We recently noticed that some third-party companies and individuals impersonated the TOPONE Markets brand and illegally misappropriated our trademarks.

We Hereby Reiterate Our Statement:

  • TOPONE Markets does not provide discretionary account operation trading services, nor does it cooperate with other third-party vendors and/ or agents to provide such services.
  • TOPONE Markets staff will not promise to our customer the definite profit, please do not trust any kind of the profit promise or profit related picture, such as screenshot/ chat history, etc, all investment profit can be only viewed on our official website and application.
  • TOPONE Markets is a professional online trading platform with low spreads and zero handling fees. Be wary of any behavior that asks you for any fees directly and privately. TOPONE Markets does not charge a fee at any stage of its trading process or other fee.

If you have any questions or concerns, please feel free to reach us by clicking the "Online Customer Support" or send an email to our customer care team cs@top1markets.com. We will answer your questions and assist you promptly.

Understood
We use cookies to learn more about how you use our website and what we can improve. Continue to use our website by clicking "Accept". Details
This website does not provide services to residents of United States.
Market News Grayscale says U.S. SEC set bar too high for Bitcoin funds

Grayscale says U.S. SEC set bar too high for Bitcoin funds

The U.S. Securities and Exchange Commission, according to Grayscale Investments, set the bar too high for spot bitcoin exchange-traded funds, which have not yet been authorized for listing on U.S. exchanges.

LEO
2022-10-12
322

微信截图_20221012103937.png


The U.S. Securities and Exchange Commission, according to Grayscale Investments, set the bar too high for spot bitcoin exchange-traded funds, which have not yet been authorized for listing on U.S. exchanges.


After the SEC rejected Grayscale's request to convert its Grayscale Bitcoin Trust, the biggest bitcoin fund in the world, into an ETF for NYSE Arca listing, Grayscale filed a lawsuit against the agency in June.


According to the regulator, the plan did not adhere to the requirements set out to safeguard investors and avoid fraudulent operations.


The SEC has accepted a number of bitcoin futures-based ETFs while rejecting applications for more than a dozen spot bitcoin ETFs. The main grounds for rejection have been applicants' absence of contracts for surveillance-sharing with regulated markets in relation to the underlying assets of the spot funds. To enable the exchange to identify manipulation, such agreements provide for the disclosure of trading data and other information.


Although both kinds of funds are inherently linked to the price of bitcoin, Grayscale stated in the court filing that the SEC had not applied its requirements equally to spot bitcoin ETFs and bitcoin futures-based ETFs.


According to the company's submission, "there is only one logical conclusion to draw: the Commission is treating spot bitcoin ETPs with extra severity based on its judgment regarding the advantages of bitcoin as opposed to other forms of investments."


According to Grayscale, there is no spot bitcoin market that the SEC deems to be regulated. However, it claimed that the NYSE Arca and the Chicago Mercantile Exchange, where bitcoin futures are traded, have a surveillance-sharing arrangement.


Since both kinds of funds depend on the price of bitcoin, Grayscale argued that the SEC's determination that prior agreements with CME were adequate to prevent fraud in bitcoin futures-based ETFs should also apply to bitcoin spot ETFs.


In addition, Grayscale claimed that by rejecting alternative strategies for reducing the risk of fraud, the SEC exceeded its power.

Bonus rebate to help investors grow in the trading world!

Need Assistance?

7×24 H

Download the APP for Free