WisdomTree has joined a competitive race to be the first United States company to launch such a product on the local market. Other contenders include VanEck, which filed on Dec. 30, Valkyrie on Jan. 22, and Bitwise Asset Management and New York Digital Investment Group (NYDIG) in February. Recent rumors say investment bank giant Goldman Sachs could soon join them.
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Ripple Execs to SEC: Stay out of our bank accounts
Brad Garlinghouse and Chris Larsen accuse the Securities and Exchange Commission of seeking a ‘fishing expedition’ through their personal finances
“The SEC’s multi-front attempt to troll through the Individual Defendant’s personal financial information in a non-fraud litigation, where the Defendants have already agreed to produce the relevant information regarding the challenged transactions, is a wholly inappropriate overreach,” the pair’s lawyers said in March 11 filing.
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U.S. ETF firm looks to circumvent SEC restrictions
Simplify Exchange Traded Funds’ proposed ETF would hold up to 15% Grayscale Bitcoin Trust, with the rest being invested in the U.S. stock market
The filing shows how desperate United States financial firms are to launch a Bitcoin ETF despite the SEC’s longstanding opposition, which is based on market volatility, alleged manipulation, and the purported lack of liquidity. A number of straight Bitcoin ETF proposals are pending before the SEC, including projects by Valkyrie, Bitwise, VanEck, and even Goldman Sachs. Appetites have been whetted by the success of Canada’s Purpose Bitcoin ETF, which attracted more than a half billion dollars in its first few days.
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Ripple CEO Brad Garlinghouse tells Axios that the SEC lawsuit is bad for the whole U.S. crypto industry (Photo: Axios on HBO)MoneyGram and Ripple part ways over XRP lawsuit
The split comes a day after Ripple CEO Brad Garlinghouse said that ‘even if Ripple goes away, XRP will keep trading’
The move is the latest fallout from the U.S. Securities and Exchange Commission’s lawsuit against Ripple, its executive chairman Chris Larsen, and Garlinghouse. The suit says that the $1.3 billion in XRP sales made by Ripple over the past eight years, with $600 million made by the two executives, were illegal sales of securities.
