1-2 p.m. ET
On January 10, 2024, the Securities and Exchange Commission (SEC) approved the listing and trading of several spot bitcoin exchange-traded products (ETPs). The approvals followed several years of back and forth with the SEC, during which time the SEC disapproved more than 20 exchange rule filings for spot bitcoin ETPs and, more immediately, followed successful litigation against the SEC by one of the spot bitcoin ETP issuers challenging the SEC’s disapprovals. While spot bitcoin ETPs are now listed and traded, it remains to be seen the extent to which other types of crypto ETPs may receive the same approvals. During this session, the speakers will discuss:
- Differences between 1933 Act only registered ETPs and 1940 Act registered exchange-traded funds (ETFs) (10 minutes)
- The process for listing and trading ETP shares (as opposed to that for 1940 Act ETFs) (10 minutes)
- Summary of the SEC’s bitcoin ETP listing disapprovals (10 minutes)
- Summary of the successful litigation against the SEC (10 minutes)
- Discussion of the post-litigation bitcoin ETP registration and listing process (15 minutes)
- Looking to the future of crypto ETPs (5 minutes)
STRADLEY RONON SPEAKERS:
J. Stephen Feinour Jr., Partner
Susan Gault-Brown, Partner
Miranda Sturgis, Partner