This Week in Crypto – Grayscale, Donald Trump, and ETFs
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This week in the crypto world we saw Grayscale hinting at a legal victory over the SEC, a European Bitcoin ETF and Donald Trump revealed as a crypto whale after spending years slating Bitcoin.
It’s almost as if he says one thing and does another…
Grayscale Eyes Lawsuit Win
Grayscale gave the first hint that its lawsuit against the Securities and Exchange Commission (SEC) will go its way this week when it posted a job advert on X (formerly Twitter) relating to its ETF department accompanied by the eyes emoji ().
The tweet came on Thursday, the day before a decision was due on the lawsuit, but it was revealed on Friday morning that the decision had been delayed. Nevertheless, the sense that Grayscale had scored a victory was palpable, even after multiple Bitcoin ETFs were delayed by the SEC.
More ETFs On The Way?
Grayscale wasn’t the only talking point when it came to ETFs this week. London-based firm Jacobi Asset Management this week announced the launch of Europe’s first Bitcoin ETF, the Jacobi FT Wilshire Bitcoin ETF, on Euronext Amsterdam almost two years after approval from the Guernsey Financial Services Commission. Jacobi wanted to launch it in 2021 shortly after this approval but the timing couldn’t have been worse, with Terraform Labs capitulating following the Three Arrows Capital debacle.
This week also saw Bloomberg reporting that an Ethereum futures ETF might be just around the corner with the SEC supposedly on the verge of approving one or more of the applications from Volatility Shares, Bitwise, Roundhill, and ProShares.
Donald Trump is a Crypto Whale
Donald Trump was revealed as a surprise crypto whale this week when a financial filing showed that the former president holds around $2.8 million in digital assets. Trump has only spoken negatively of cryptocurrencies in recent years, including wanting to “go after” Bitcoin in 2018, but a recent disclosure, obtained by campaign group Citizens for Ethics, shows that Trump-connected wallets hold some $2.8 million in ETH and that the former president has raked in almost $5 million from his NFT sales.
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Filed under: Bitcoin - @ August 20, 2023 7:12 am