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Novogratz Says Bitcoin ETF Will Be Approved This Year by the SEC
Michael Novogratz says he expects the US Securities and Exchange Commission will finally approve exchange-traded funds that invest directly in Bitcoin this year. “It’s gonna get approved,” Novogratz, the founder and chief executive officer of Galaxy Digital Holdings Ltd., said during an interview on CNBC. “We actually think it’s gonna happen in 2023.” He added that “the most significant piece is the SEC lost in the court.” In August, Grayscale Investments LLC won what some industry observers called a watershed victory when a US appeals panel overturned the SEC’s rejection of a plan to convert its ... (full story)
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Those closely following the quest for an exchange-traded fund that would hold Bitcoin have Friday circled on their calendars. That’s when a DC court will issue a mandate that ...
post: GENSLER: SEC STILL SPEAKING WITH FIRMS SEEKING SPOT BITCOIN ETF post: GENSLER SAYS SEC IS STILL WEIGHING BITCOIN ETF PROPOSALS
Thank you, Professor Scobie. Thank you to the European Economics and Financial Centre for inviting me to speak and for the honor of referring to me as a "distinguished speaker." I have noticed that people started calling me "distinguished" only after my hair turned white. I suspect that "distinguished" is a polite way of saying you are old. My subject today is one I trust is of interest in this center of global finance—namely, the outlook for the U.S. economy and the implications for monetary policy.1 It has been one year and seven months since the Federal Reserve began raising interest rates to rein in inflation, and there has been considerable progress. But uncertainties remain, both about the forces that will shape the economic outlook in the coming months and about whether monetary policy has reached a level that is sufficiently restrictive to support continued progress toward the Federal Open Market Committee's (FOMC) target of 2 percent inflation. Let me share my thinking about what recent economic data can, and in some cases, cannot tell us about the outlook and the appropriate setting for monetary policy. The data in the past few months has been overwhelmingly positive for both of the FOMC's goals of maximum employment and stable prices. Economic activity and the labor market have been strong, with what looks like growth well above trend and unemployment near a 50-year low. Meanwhile, there has been continued, gradual progress in lowering inflation, and moderation in wage growth. This is great news, and while I tend to be an optimist, things are looking a little too good to be true, so it makes me think that something's gotta give. Either growth moderates, fostering conditions that support continued progress toward our 2 percent inflation objective, or growth doesn't, possibly undermining that progress. But which is going to give—the real side of the economy or the nominal side? I find myself thinking about two possible scenarios for the economy in the coming months. In the first, the real side of the economy slows. This is the scenario broadly reflected in the September Summary of Economic Projections (SEP) by FOMC participants, w post: WALLER: TOO SOON TO TELL IF MORE POLICY RATE ACTION IS NEEDED WALLER: MORE ACTION ON POLICY RATE WOULD BE NEEDED IF DEMAND, ECONOMIC ACTIVITY KEEP UP RECENT PACE post: WALLER: IF REAL ECONOMY SLOWS, CAN HOLD POLICY RATE STEADY #News #Markets #live post: Fed governor Chris Waller blesses a November pause: After that, if growth cools along the lines of the Sept SEP, then stay on hold But if strong demand stalls recent progress on inflation, failing to respond "in a timely way” risks “unwinding the work that we have done to date" pic.twitter.com/EYJPsUWwZr
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- Posted: Oct 18, 2023 10:46am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 266