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You are here: Home / Archives for BitMEX

BitMEX

BitMEX Teases Major Ripple Move Ahead of CME XRP Futures Launch

May 19, 2025 by Mwongera Taitumu

  • BitMEX teases Ripple-related news just before CME XRP futures launch.
  • XRP’s price stagnates, but BitMEX’s teaser fuels investor speculation.
  • CME XRP futures are expected to boost liquidity and market participation.

BitMEX posted a cryptic social media post on X, which has since sparked speculation about XRP. The crypto derivatives exchange teased a major announcement related to Ripple, which made many investors brace for the market impact. This comes a few days before the CME Group launches its regulated XRP futures.

The tweet, posted on May 17, included a ripple-effect visual besides a message, “News that’s definitely going to have a @ripple effect on the market.” The post captured a lot of attention, with almost half a million views, but BitMEX has not clarified the specifics. Analysts believe that the announcement could be linked to a partnership, integration, or a new XRP derivative product.

BitMEX has remained a major player in the cryptocurrency derivatives market for years. In February 2020, it launched an XRPUSD perpetual swap, and a spot trading platform in May 2022. A collaboration between BitMEX and Ripple could indicate a major move in the crypto space.

Ripple Vs SEC case Downplays BitMEX Hint

Over the past few days, the price of XRP appears to have stabilized with only a 0.3% increase in the last week. The XRP price consolidation comes after a rally at the end of 2024. The Ripple vs. U.S. Securities and Exchange Commission (SEC) case has further created uncertainty in the market.

Although the news from BitMEX has sparked interest, a number of analysts are still unsure about the price of XRP. The XRP price has recovered after recent market corrections. However, its future remains unclear because of legal issues. Experts are now more cautious because the court’s decision to reject a joint motion has increased market instability.

CME Group XRP Futures Doubles Market Optimism

Meanwhile, the launch of XRP futures on CME Group is expected to be a major catalyst for the XRP’s price. Traders expect the futures market to add liquidity to XRP. The XRP futures will enable traders to hedge and speculate on XRP’s price.

XRP investors are still optimistic despite the lack of certainty in regulations. The market continues to monitor the BitMEX announcement and the introduction of XRP futures, which could give the currency a boost. All these factors are expected to lead to more speculation about XRP’s price movement.

The announcement from BitMEX is expected to create ripples across the market. The launch of XRP futures by CME and BitMEX’s announcement could provide much-needed clarity to the market. These market-making events could boost the growth of XRP despite the legal and regulatory hurdles.

Related Reading | Bitcoin’s Steady Surge Signals Potential to Reach $134,000 by 2025

Filed Under: News Tagged With: BitMEX, CME Group, Ripple (XRP), SEC, XRP Futures

Trump Grants Surprise Pardons to BitMEX Founders and Former Employee

March 30, 2025 by Onyi

  • President Donald Trump has granted full pardons to the co-founders of BitMEX along with their former employee 
  • BitMEX was previously accused of failing to implement proper anti-money laundering measures, which led to legal battles and significant fines for all individuals involved. 

U.S. President Donald Trump has pardoned the three founders of cryptocurrency exchange BitMEX, along with a former top employee, according to a White House official. The company has  also been granted a full pardon. 

This decision has drawn so much attention in the crypto world, as it has cleared all the individuals and the platform from any legal issues related to their past activities.

The former founders of BitMEX; Arthur Hayes, Benjamin Delo, and Samuel Reed, along with the former business development head, Gregory Dwyer, previously admitted to guilt charges under the Bank Secrecy Act for not enforcing anti-money laundering and other identity verification measures. 

Their legal troubles lasted for several years, and it focused on financial regulations and other compliance failures. On Thursday, Donald Trump granted them full pardons, clearing them of all charges related to the case.

BitMEX Co-Founders’ Previous Legal Troubles 

BitMEX, which was once a leading Bitcoin derivatives exchange platform, was first put under scrutiny by the U.S government in 2020 for operating without proper anti-money laundering (AML) measures. The Federal Authorities accused the platform of failing to prevent unregulated financial activities between 2015 and 2020. In 2022, the co-founders of the platform pleaded guilty to violating the Bank Secrecy Act and agreed to pay $10 million each in penalties.

The exchange itself later faced a $100 million fine in early 2024 for other additional violations. The Prosecutors claimed BitMEX continued serving US customers through other indirect means despite publicly stating otherwise. However, with all of these, the President still decided to pardon the co-founders. 

The Co-founders Response to the Presidential Pardon

Arthur Hayes first shared a post on X saying “Thank you POTUS,” which means “President of the United States.”

Delo also expressed his gratitude, thanking the President for the pardon and calling it a validation of their long-held stance. He went on to criticize the US Department of Justice for unfairly targeting BitMEX and its founders, claiming they should never have faced any criminal charges under an outdated law. 

He also claimed the exchange was unfairly used as a political example despite being highly successful in the crypto industry. 

Related Reading | XRP Price Analysis: Key Levels to Watch for Bullish Growth

Filed Under: News, World Tagged With: BitMEX, TRUMP

BitMEX Founders Freed: Trump Issues Controversial Pardons After Conviction

March 30, 2025 by Mwongera Taitumu

  • Trump pardons BitMEX founders after money laundering convictions.
  • Hayes, Delo, Reed pleaded guilty to failing AML requirements.
  • BitMEX settles with CFTC, faces $100 million fines and penalties.

On March 28 reports confirmed that President Donald Trump issued pardons to BitMEX co-founders Arthur Hayes, Benjamin Delo and Samuel Reed. The trio had previously admitted to criminal offenses related to money laundering and breaking Bank Secrecy Act (BSA) regulations. Hayes, Delo and Reed initially faced serious legal penalties which included fines and possible probation for their role in BitMEX operations.

Reprieve For BitMEX Founders After Trump’s Pardon

In 2020 U.S. authorities initiated criminal charges against co-founders of BitMEX which was headquartered in Seychelles. The authorities charged the three co-founders with insufficient anti-money laundering measures such as failure to implement the “know your customer” (KYC) program. This allowed users to trade anonymously on the platform which created possible spaces for illegal activities.

Hayes, Delo, and Reed admitted guilt for their deliberate failure to comply with Anti-Money Laundering (AML) requirements in 2022. The court awarded the defendants probationary times as part of their sentence. The court sentenced Hayes to a two-year probation, while Delo and Reed received 30 months and 18 months respectively.

U.S. authorities issued financial penalties against the trio, with each required to pay $10 million in fine. Additionally, the Commodity Futures Trading Commission (CFTC) established a $100 million settlement with BitMEX for regulatory violations. The parent company HDR Global Trading Limited received a $100 million fine in January 2025.

Concerns Over Trump’s Pardon Spree

Trump’s pardon of BitMEX executives has raised concerns especially because the president has previously made numerous controversial decisions. In his tenure as 47th U.S president, Trump issued numerous controversial pardons to individuals involved in major cases. The list includes participants in the January 6 Capitol riot and  the Silk Road founder, Ross Ulbricht.

However, Trump’s pardons do not eliminate the ongoing legal and regulatory difficulties that continue to hinder BitMEX operations. The platform is recognized for derivatives trading which includes perpetual contracts and futures which made it a major exchange in the crypto market. However, the exchange suffered serious damage to its reputation which prompted leadership changes and substantial financial payments.

Trump’s pardon to BitMEX founders stands out because it occurs at a time when U.S. regulators have increased scrutiny on cryptocurrency operations. Although the executive pardons appear to benefit those who helped develop the crypto ecosystem their overall effects remain unclear. The US regulatory environment for cryptocurrency exchanges continues to transform and additional legal actions could follow.

Filed Under: News Tagged With: arthur hayes, BitMEX, Ross Ulbricht, silk road

South Korea Strikes Hard on KuCoin and 4 Other Crypto Giants

March 22, 2025 by Mutuma Maxwell

  • South Korea is taking action against five overseas crypto exchanges.
  • The FIU identified KuCoin, BitMEX, CoinW, Bitunix, and KCEX as unregistered platforms.
  • These exchanges violated the Specific Financial Information Act.

South Korea has begun regulatory action against five overseas crypto exchanges for operating illegally without proper registration. The Financial Intelligence Unit (FIU) identified KuCoin, BitMEX, CoinW, Bitunix, and KCEX violating the Specific Financial Information Act. Regulatory action involves access restrictions and sanction implementations because authorities are strengthening their oversight of cryptocurrency operations.

South Korea Targets KuCoin for Violations

South Korea’s FIU flagged KuCoin for offering services to local users without registering as a virtual asset service provider. Officials reported that KuCoin operates a Korean-language website, engages in marketing campaigns, and provides support to domestic investors. Despite these activities, KuCoin has failed to comply with local registration laws, raising compliance concerns.

According to the regulators, KuCoin broke the Specific Financial Information Act when it neglected to register as a foreign cryptocurrency business in the country. KuCoin’s failure to follow mandatory procedures has triggered regulatory action and the possibility of service restrictions. As a result, the FIU is reviewing enforcement measures and may block KuCoin’s access within South Korea.

Technical access-blocking programs have been established through joint efforts between the Korea Communications Standards Commission and the FIU. Authorities aim to prevent unlicensed exchanges like KuCoin from operating freely in the country. User complaints and damages claims help the authorities prepare legal action against the exchange.

BitMEX Under Fire for Skipping VASP Registration

BitMEX has also been scrutinized for not registering as a VASP while targeting South Korean users. Although BitMEX delivered platform services in Korean and promoted its operations to domestic investors, it failed to fulfill the required regulatory requirements. The negligence caused the FIU to identify BitMEX as an exchange that might receive sanctions.

The financial watchdog is analyzing data on user activity and potential damages linked to BitMEX’s operations in South Korea. The organization is working to establish better cooperation with related authorities to handle exchange violations properly. Top officials at FIU stressed the importance of urgent enforcement steps to defend financial investors and national regulatory rules.

As investigations continue, BitMEX could face access blocks and legal measures by South Korean regulators. These recent enforcement measures show the country’s determination to monitor foreign cryptocurrency operations strictly. The authorities seek to stop future violations by properly overseeing foreign virtual trading platforms within local jurisdictions.

CoinW, Bitunix, and KCEX Also Cited for Regulatory Violations

CoinW, Bitunix, and KCEX are also under investigation for providing unauthorized crypto services to South Korean users. The exchanges offer Korean-language services and crypto trading facilities without proper licensing and disclosure to South Korean users, violating the nation’s Specific Financial Information Act.

Authorities have discovered that these exchange platforms run marketing efforts and user engagement toward Korean investors. Users face financial loss because the exchange functions without proper oversight. The FIU has designated these platforms as immediate targets for its examination and enforcement procedures.

As part of their investigations, the FIU collects more evidence while its personnel collaborate with relevant agencies to develop system restrictions for intervention. This regulatory procedure is part of an organized movement to control the crypto market. The goal is to ensure all platforms follow the same legal standards within South Korea.

Filed Under: Altcoin News, News Tagged With: BitMEX, Kucoin, south korea

Crypto Crackdown: South Korea Targets Foreign Exchanges for Legal Violations

March 21, 2025 by Arslan Tabish

  • South Korea targets foreign crypto exchanges for non-compliance with the Specific Financial Information Act.
  • The Financial Intelligence Unit is working to close unregistered exchanges offering services to Koreans.
  • Only 31 crypto exchanges are officially registered in South Korea, down from 42 in the previous year.

The South Korean financial regulators have started going after the foreign crypto exchanges that operate in the country without meeting the regulatory requirement of the Specific Financial Information Act. As for now, many exchanges operate in South Korea and offer their services locally, which violate the established legal regulations. This is why the South Korean government intensifies its efforts to regulate cryptocurrencies and protect the country’s investors.

Crypto Exchange Licensing Requirements

According to a recent report, leading the initiative is the Financial Intelligence Unit (FIU) that is an independent entity empowered to collect and analyse information on money laundering in the country. Since there is still some of them that continue to offer their services to South Koreans, it is considering ways to effect their closure. 

The issue is also being addressed by the KCSC (Korea Communications Standards Commission) in cooperation with the FIU. It emerged that any international crypto exchange that operates in South Korea is required to be licensed by the FIU. Non compliance is thus punishable by criminal laws in some jurisdictions or through administrative sanctions.

Some of the exchanges are under investigation owing to engaging with South Korean users. Some of the platforms that it pioneered include BitMEX, KuCoin, CoinW, Bitunix, and KCEX. All of these exchanges have maintained and hosted Korean-language websites and have offered marketing, customer services and support in the breach of the SFIA. The government is implementing these measures to bring all crypto trading enterprises in the country into the formal sector to be regulated adequately.

Impact of Regulatory Crackdown

The SFIA requires all entities that trade or manage cryptocurrencies, or engage in related assets custody, to register with the FIU. In most cases, unregistered platforms attract some significant legal repercussions. In 2022, the FIU accomplished its goal of lobbying the Korea Communications Standards Commission to black list 16 international platforms of which include KuCoin, MEXC and Poloniex. Consequently, many of the these unregistered platforms ceased operation in South Korea.

Currently, there are only 31 operating crypto exchanges in South Korea that are officially recognized by the government. This number decreased from 42 in the prior year. There are some exchanges that have been removed from the platform including GDAC, ProBit, Huobi Korea, and Bitrade. This means some of them did not meet the registration standards or did not extend their licenses; therefore, they are not legal platforms in the country.

This move demonstrates the growing trend of South Korea’s authorities and relevant institutions attempting to control the crypto industry. It also focused on the revelations of legal constraints in the financial sector regarding the laws that every country ought to adhere to strictly. The FIU’s actions are aimed at providing security to the South Korean investors and preserving the cryptocurrency market with its official currency within the country.


Filed Under: News Tagged With: BitMEX, Bitunix, CoinW, crypto crackdown, crypto exchange, FIU, KCEX, Kucoin, south korea

Bitcoin to Hit $100K by Year-End, Says BitMEX Founder Arthur Hayes

November 26, 2024 by Mutuma Maxwell

Arthur Hayes, the founder of BitMEX, shared an optimistic outlook for Bitcoin (BTC), Dogecoin (DOGE), and the broader crypto market. He anticipates Bitcoin reaching $100,000 by year-end and $250,000 by 2025. Hayes also foresees Dogecoin climbing to $1, underpinned by growing interest in memecoins.

TradFi Firms Fuel Bitcoin and Crypto Growth

Hayes highlights the role of traditional finance (TradFi) firms in fueling crypto’s next major rally. He believes TradFi investors will allocate funds to prominent projects as the market gains momentum. This influx could initially boost legitimate projects but may later drive overvaluation in less credible assets.

As the cycle progresses, excessive credit allocation might create price bubbles in certain sectors. Hayes cautions that risky investments could emerge when TradFi funding flows into speculative projects. Such dynamics might lead to a market correction if valuations disconnect from reality.

While Hayes acknowledges risks, he sees the current market as far from its speculative peak. He remains confident about Bitcoin’s upward trajectory as more institutional capital enters the crypto ecosystem.

Bitcoin and Dogecoin Expected to Skyrocket

Hayes predicts Bitcoin’s price will surge, potentially reaching $100,000 by the end of this year. He links this growth to increasing adoption by TradFi firms and speculative retail enthusiasm. By 2025, he envisions Bitcoin scaling to $250,000 as the market matures.

Regarding Dogecoin, Hayes expresses optimism for the memecoin sector’s sustained growth. He sees Dogecoin hitting $1, driven by community interest and speculative trading. The broader trend in memecoins reflects growing appetite for lighthearted and engaging crypto assets.

These bullish forecasts suggest that both assets could benefit from expanding adoption and increased market liquidity. Hayes emphasizes that these milestones depend on maintaining a balance between enthusiasm and realistic valuations.

Hayes warns that overvaluation could become a challenge as the crypto rally matures. He believes excessive capital in speculative projects could destabilize the market. TradFi firms may need to approach investments cautiously to avoid misallocation.

Filed Under: Bitcoin News, News Tagged With: arthur hayes, Bitcoin, BitMEX

Political Shifts Won’t Stop Bitcoin’s Ascent: Arthur Hayes

August 8, 2024 by Mishal Ali

In a recent interview, Arthur Hayes, co-founder of BitMEX and a prominent figure in the crypto world, discussed a range of topics, including the potential impact of political changes on cryptocurrency, the evolution of the crypto industry, and Bitcoin’s future.

Hayes, who began his finance career in September 2008 on Deutsche Bank’s trading floor in Hong Kong, shared how the abrupt collapse of Lehman Brothers marked a dramatic shift in the financial landscape. It was during this time of transformation that Hayes discovered Bitcoin, which he described as aligning perfectly with his views on the corrupt banking system.

image 19 8

A decade later, Hayes reflects on how the crypto industry, while vibrant and diverse, is increasingly mirroring the traditional finance sector it once sought to disrupt. Major financial institutions like BlackRock and Franklin Templeton now offer accessible investment options in cryptocurrencies, and Fidelity is pushing to include Bitcoin in American pension funds.

Despite this growing mainstream acceptance, Hayes believes the core spirit of the crypto community remains unchanged. Addressing current political dynamics, Hayes expressed skepticism about the role of politicians in advancing cryptocurrency interests.

He noted that regardless of whether Donald Trump or Kamala Harris wins the election, the fundamental challenges of governmental opposition to crypto remain. Hayes argued that the entrenched financial institutions and regulatory bodies are significant obstacles that any new administration would struggle to overcome.

Bitcoin’s Resilience Against Monetary Expansion

On the topic of Bitcoin and monetary policy, Hayes was resolute in his belief that regardless of who is in power, the continuous expansion of money supply is inevitable. This monetary inflation, he argues, will ultimately benefit Bitcoin. Despite the volatility and risks associated with the cryptocurrency, Hayes remains bullish on its long-term prospects.

Regarding the SEC and its chairman, Gary Gensler, Hayes suggested that the real issue is not Gensler himself but rather the broader regulatory framework. He criticized the focus on individual regulators instead of addressing the systemic issues within the regulatory environment.

Hayes also shared his views on the idea of a Bitcoin reserve, noting that while it’s a compelling concept, it’s highly improbable given the current political and economic landscape. He believes that while Bitcoin and gold could offer a strategic advantage, the U.S. government is unlikely to prioritize Bitcoin over gold.

However, looking ahead, Hayes is optimistic about Bitcoin’s potential to reach new highs, driven by global monetary changes and massive debt levels, despite the resistance to change from entrenched financial powers.

Related Reading | TRON Shines in Q2 2024: USDT Hits $57.1B ATH, TRX Climbs to Top 10

Filed Under: News, Bitcoin News Tagged With: Bitcoin (BTC), BitMEX, blackrock, Franklin Templeton

BitMEX Guilty: Faces Massive 5 Years for BSA Violation

July 12, 2024 by Aishwarya shashikumar

BitMEX, the Seychelles-based crypto exchange, has pleaded guilty to violating the Bank Secrecy Act (BSA). This was announced on Wednesday by the U.S. Department of Justice (DOJ).

Court documents reveal that BitMEX failed to establish an adequate know-your-customer (KYC) and anti-money laundering (AML) program. This lapse occurred between September 2015 and September 2020. During this period, the Commodity Futures Trading Commission (CFTC) charged the exchange with offering illicit crypto derivative trading services to U.S. customers. The DOJ charged four of the exchange’s employees with BSA violations.

Until September 2020, BitMEX allowed customers to register and trade cryptocurrency anonymously, without any identifying information or documentation. The DOJ claims the exchange promoted itself as a platform where users could trade without real-name verification. This lax approach to AML/KYC standards, prosecutors say, made the exchange a hub for money laundering and sanctions violations.

U.S. Attorney Damian Williams commented,

“As BitMEX’s founders and long-time employee admitted in federal court in 2022, the company operated in the United States without any meaningful anti-money laundering program, as required by federal law. As a result, BitMEX opened itself up as a vehicle for large-scale money laundering and sanctions evasion schemes, posing a serious threat to the integrity of the financial system. Today’s guilty plea indicates again the need for cryptocurrency companies to comply with U.S. law if they take advantage of the U.S. market.”

BitMEX’s Old Charges

The 2020 charges against BitMEX’s co-founders Arthur Hayes, Samuel Reed, and Benjamin Delo, and its first employee, Gregory Dwyer, are nearly identical to the charge the exchange pleaded guilty to. The executives previously pleaded guilty as well.

In addition, BitMEX pleaded guilty to lying to a foreign bank as part of its BSA violation. The company and its executives made false statements to an unnamed international bank to convince it to open an account for a shell company called Shine Effort Inc. Limited. The exchange was the beneficial owner of this company.

A DOJ spokesperson did not comment on why the charges against BitMEX were filed four years after the same charges were filed against its executives. The exchange has not yet been sentenced. The case is being overseen by U.S. District Judge John G. Koeltl of the Southern District of New York. The exchange’s representatives did not respond to requests for comment.

Filed Under: News, Altcoin News, Bitcoin News, World Tagged With: BitMEX, Crypto, crypto exchange, Cryptocurrency

BitMEX Sees Massive Bitcoin Outflow: What This Means for the Crypto Market

July 12, 2024 by Arslan Tabish

A popular on-chain data provider, CryptoQuant, has shared that BitMEX has seen the second-highest outflow of Bitcoin in its history. This withdrawal of 35,486 BTC has attracted a lot of attention and discussions within the crypto space and could have an impact on other markets.

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In the past, the “Exchange Netflow” indicator on BitMEX has been very much associated with the price of Bitcoin. The price of Bitcoin rises when this indicator goes deep into the negative territory, where large outflows of BTC generally occur. The recent netflow of 35,486 BTC is quite significant and can be considered as one of the largest outflows from the platform to date which has naturally piqued the interest of the market.

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Major BTC Moves On BitMEX

Outflows of large amounts of Bitcoin from BitMEX have been taken to mean that big investors are withdrawing their funds. This is more of a transfer to a cold wallet for safekeeping or selling in another exchange at a more convenient time. Such actions alleviate the immediate selling pressure on BitMEX, thus supporting or even boosting the price of Bitcoin.

Events of this nature that have occurred in the BitMEX platform have in the past been known to predict the rise in Bitcoin prices. Therefore, it is very important for investors and market enthusiasts to pay a lot of attention to the Exchange Netflow indicator on BitMEX, since these strategic actions directly affect the crypto market.

The platform continues to play a significant part in determining the trends of the market as seen by the second largest outflow of Bitcoin in the platform’s history. In response to this major occurrence, investors and analysts are analyzing the situation, while the members of the crypto community are waiting for the prices to change and the strategies of market participants to change.

Filed Under: News Tagged With: Bitcoin, BitMEX, Cryptocurrency

Ethereum ETF Approval Still Viable, Says BlackRock’s Fink

March 29, 2024 by Mishal Ali

The head of asset management powerhouse, BlackRock, remains optimistic about the prospects of an Ethereum spot exchange-traded fund (ETF) coming to market, even if regulators deem the world’s second-largest cryptocurrency a security. Larry Fink’s confident stance emerges as the Securities and Exchange Commission nears a May deadline to rule on applications from eight issuers looking to launch such a product.

While the prevailing sentiment among industry observers is that the SEC will reject the Ethereum ETF proposals no matter how it ultimately classifies the digital asset, Fink believes approval remains a possibility. In a recent interview on Fox Business, the BlackRock CEO responded affirmatively when asked if an Ethereum ETF could still go forward under a security designation.

YouTube video

Fink’s conviction likely stems from the overwhelming success of BlackRock’s spot Bitcoin ETF, the iShares Bitcoin Trust. Branded by the CEO as “the fastest growing ETF in the history of ETFs,” the fund has raked in over $15 billion in assets under just two and a half months on the market.

The ability of the Bitcoin ETF to inject considerable liquidity and transparency into the market appears to have opened Fink’s eyes to the transformative potential of such products tracking other digital assets beyond just Bitcoin. If his firm’s wildly popular Bitcoin offering is any indication, there could be a substantial appetite among investors for convenient, regulated exposure to Ethereum through an exchange-traded fund.

However, not everyone shares Fink’s optimism. Bloomberg analyst James Seyffart has gone on record stating his expectation that the SEC will ultimately reject the current crop of Ethereum ETF applications when the regulator’s ruling comes down in May. While Seyffart acknowledged the need for further review of Fidelity’s recent filing for a staking Ethereum ETF, his overall assessment suggests the proposals face an uphill battle.

This is what the table looks like at the moment. It doesn't change our view at the moment. Still think we likely see denials in May. (though i do still need to read through this doc more but on the road today) pic.twitter.com/txuFK8OeAq

— James Seyffart (@JSeyff) March 27, 2024

Advocates for Ethereum ETFs

But the asset management giants aren’t alone in their advocacy for an Ethereum ETF. Arthur Hayes, former CEO of pioneering crypto derivatives platform BitMEX, has argued forcefully that the success of Bitcoin ETFs essentially paves the way for similar products tied to other digital assets like Ethereum and Solana. Given the lucrative fees such offerings could generate for major financial institutions, Hayes contends banks have a vested interest in seeing them approved.

YouTube video

Grayscale’s Chief Legal Officer Craig Salm has also voiced support, stating that the SEC’s perceived lack of engagement with issuers on technical details should not be viewed as an indicator of the final outcome. Many of those operational intricacies, Salm reasons, have already been ironed out through the approval process for Bitcoin ETFs.

1/ Recently, there’s been a lot of chatter about spot #Ethereum ETFs. I personally am not deterred by it and believe the ETFs should be approved. But right now I want to talk about how I think perceived “lack of SEC engagement” should be viewed at this point:

— Craig Salm (@CraigSalm) March 25, 2024

However, the crypto world holds its breath as the back-and-forth plays out ahead of the SEC’s looming decision. The ramifications of the regulator’s ruling could profoundly impact the acceptance and accessibility of Ethereum for investors through mainstream, regulated investment vehicles.

Related Reading | BlockDAG’s $9.7 Million Presale Dominates Crypto Market, Outperforming BeFi & Worldcoin Market Fluctuations

Filed Under: News, Altcoin News Tagged With: Bitcoin ETF, BitMEX, blackrock, Cryptocurrency, Ethereum (ETH), Ethereum ETF

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