SEC registrants seek DeFi and physically-backed Bitcoin ETF approval. In fact, the SEC has received registrations from Amplify ETFs, Invesco, and Galaxy for Bitcoin and DeFi-based ETF products.
Furthermore, US crypto firms submitted two registration statements with the Securities and Exchange Commission, requesting authorization to offer Bitcoin (BTC) and decentralised finance exchange-traded funds (ETF) (DeFi).
In particular, Invesco, a financial services firm located in Atlanta, teamed up with Galaxy Digital Funds in New York to file and register the Invesco Galaxy Bitcoin ETF, a trust with physically secured private keys. Amplify ETFs, located in Illinois, has submitted a second registration to expand the Amplify ETF Trust’s DeFi-centric open-end ETF offerings.
The SEC’s approval will allow unlimited number of shares to American investors
If the SEC approves it, the Invesco Galaxy Bitcoin ETF will be registered as a securities offering and will be able to trade on regular US national markets. The trust will secure Bitcoin private keys with “strong physical obstacles to access. As well as technological surveillance, and continually roaming patrols”, according to the petition.
The SEC’s acceptance of Amplify ETFs’ FORM N-1A application, on the other hand, will allow the business to issue an unlimited number of additional shares to American investors. Galaxy, on the other hand, has applied for a Bitcoin ETF for the second time since April 12. With approval expected in October.
Gensler invites crypto businesses to come in and talk
Gary Gensler, the chairman of the Securities and Exchange Commission, has been chasing crypto companies to register with the government. In a statement dated Sept. 14, Gensler invited crypto-related businesses to “come in and have a conversation with us,” citing case-by-case legal status probability.
Additionally, Gensler expressed similar thoughts in August. Calling for a strong crypto regulatory system to increase investor safety in “crypto financing, issuance, trading, or lending”. He has lately called for more clarity in the stablecoin ecosystem. “At the casino gaming tables, the poker chip is these stablecoins,” he explained.