SEC Chair Gensler Has Mixed Feelings About Judge's Ripple Case Verdict: 'Pleased And..Disappointed'
Portfolio Pulse from Mehab Qureshi
SEC Chair Gary Gensler has expressed mixed feelings about a court ruling that Ripple Labs's XRP token is not necessarily a security. He was pleased with the part of the decision that classified the token as a security for institutional investors but disappointed about aspects related to retail investors. Gensler also mentioned that the SEC has proposed rule changes that apply to digital assets. In the coming months, the SEC will be handling a series of Bitcoin ETF applications submitted by financial institutions like BlackRock and Fidelity.
July 18, 2023 | 6:14 am
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NEUTRAL IMPACT
BlackRock has submitted a Bitcoin ETF application to the SEC, which will be reviewed in the coming months.
The news about the SEC reviewing Bitcoin ETF applications is relevant to BlackRock as it has submitted one such application. However, the outcome is uncertain, hence the neutral score. If approved, it could potentially boost BlackRock's offerings and attract more investors.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
NEUTRAL IMPACT
Fidelity has submitted a Bitcoin ETF application to the SEC, which will be reviewed in the coming months.
The news about the SEC reviewing Bitcoin ETF applications is relevant to Fidelity as it has submitted one such application. However, the outcome is uncertain, hence the neutral score. If approved, it could potentially boost Fidelity's offerings and attract more investors.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50