{"id":7500,"date":"2022-09-30T02:28:39","date_gmt":"2022-09-30T02:28:39","guid":{"rendered":"http:\/\/cryptoheretostay.com\/?p=7500"},"modified":"2022-09-30T02:28:40","modified_gmt":"2022-09-30T02:28:40","slug":"market-manipulation-claims-will-be-hardest-nut-to-crack-in-bitcoin-etf-approval-wisdomtree","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=7500","title":{"rendered":"Market manipulation claims will be hardest &#8216;nut to crack&#8217; in Bitcoin ETF approval \u2014 WisdomTree"},"content":{"rendered":"<script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script>\n<p>Will Peck, the head of digital assets at exchange-traded fund provider WisdomTree said regulators in the United States will \u201cultimately get there\u201d on approving a Bitcoin spot investment vehicle, but dealing with claims of market manipulation could be a challenge.<\/p>\n<p>Speaking to Cointelegraph at the Converge22 conference in San Francisco on Sept. 29, Peck said WisdomTree would not follow Grayscale by taking legal action against the U.S. Securities and Exchange Commission for denying its Bitcoin (BTC) ETF application. According to Peck, the company planned to \u201cengage more productively\u201d with the SEC without a lawsuit, but tackling some of the regulator\u2019s reasons for turning down spot Bitcoin ETF applications could take time.<\/p>\n<p>\u201cWe\u2019re all kind of watching this and seeing what\u2019s going to happen,\u201d said Peck. \u201cThe reasons that [the SEC has] given have really been around potential for market manipulation \u2014 that Bitcoin trading does not happen on regulated venues [&#8230;] There\u2019s been some questions in the past of custody, the ability of qualified custodians, whether banks or otherwise to be able to custody crypto assets on behalf of a registered firm like this.\u201d<\/p>\n<p>He added:<\/p>\n<p>\u201cI think it seems that the first one around market manipulation\u2019s kind of the hardest nut to crack, where there\u2019s been the biggest slowdown.\u201d<\/p>\n<p>Peck said that the firm would continue to engage with U.S. regulators over an ETF offering. WisdomTree has several exchange-traded products linked to different cryptocurrencies in Europe, and has filed more than one application with the SEC for a spot Bitcoin ETF offering in the United States. The SEC rejected one of the company&#8217;s applications in December 2021, after which WisdomTree\u00a0amended its filing to name U.S. Bank as a crypto custodian for its Bitcoin trust.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Self-custody isn\u2019t for everyone: WisdomTree exec on \u2018be your own bank\u2019<\/em><\/strong><\/p>\n<p>While Grayscale\u2019s legal actions against the SEC over its ETF offering are ongoing, the firm\u2019s chief legal officer Craig Salm suggested it could take from one to two years for a resolution. The U.S. regulator began approving investment vehicles linked to BTC derivatives for the first time in October 2021, but has turned down spot Bitcoin ETF applications from 16 companies, often saying the investment vehicles were not \u201cdesigned to prevent fraudulent and manipulative acts and practice.\u201d<\/p>\n<p><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cointelegraph.com\/news\/market-manipulation-claims-will-be-hardest-nut-to-crack-in-bitcoin-etf-approval-wisdomtree\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Will Peck, the head of digital assets at exchange-traded fund provider WisdomTree said regulators in the United States will \u201cultimately get there\u201d on approving a Bitcoin spot investment vehicle, but dealing with claims of market manipulation could be a challenge. Speaking to Cointelegraph at the Converge22 conference in San Francisco on Sept. 29, Peck said [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":7501,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[2],"tags":[],"class_list":["post-7500","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/7500","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7500"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/7500\/revisions"}],"predecessor-version":[{"id":7502,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/7500\/revisions\/7502"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/7501"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7500"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7500"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7500"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}