SEC Rejects Bitcoin ETF Proposals

The Securities and Exchange Commission (SEC) has rejected proposals from BlackRock, ARK Invest, Fidelity, and other asset managers to create a spot Bitcoin exchange-traded fund (ETF).

The SEC said that the proposals were not “sufficiently clear and comprehensive” and that the exchanges did not provide enough information about the details of their surveillance arrangements.

A spot Bitcoin ETF would allow investors to buy and sell Bitcoin directly, without having to go through a futures contract. This would make it much easier for investors to get exposure to Bitcoin, and it could help to legitimize the cryptocurrency in the eyes of regulators and investors.

The SEC has denied several previous proposals for a spot Bitcoin ETF, citing concerns about market manipulation and the potential for fraud. However, the recent surge in interest in Bitcoin and other cryptocurrencies has led to renewed calls for the SEC to approve a spot Bitcoin ETF.

In a statement, the SEC said that it “continues to carefully consider” proposals for spot Bitcoin ETFs. However, the agency said that it is “not yet persuaded” that the proposals that have been submitted meet its standards.

The SEC’s decision to reject the proposals is a setback for the cryptocurrency industry, but it is not the end of the road for spot Bitcoin ETFs. The SEC has said that it is open to considering new proposals, and the cryptocurrency industry is likely to continue to push for approval of a spot Bitcoin ETF.

In the meantime, investors who want to get exposure to Bitcoin can still do so through futures contracts or through acquiring spot currency. However, a spot Bitcoin ETF would offer a more direct and convenient way for investors to buy and sell Bitcoin, especially in retirement accounts.

A secondary consideration is how much new accumulation would occur in the spot currency should an ETF be tied to the massive tradfi markets.

The ReadySetCrypto "Three Token Pillars" Community Portfolio (V3)

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What is the goal of this portfolio?

The “Three Token Pillars” portfolio is democratically proportioned between the Three Pillars of the Token Economy & Interchain:

CryptoCurreny – Security Tokens (STO) – Decentralized Finance (DeFi)

With this portfolio, we will identify and take advantage of the opportunities within the Three
Pillars of ReadySetCrypto. We aim to Capitalise on the collective knowledge and experience of the RSC
community & build model portfolios containing the premier companies and projects
in the industry and manage risk allocation suitable for as many people as
possible.

The Second Phase of the RSC Community Portfolio V3 was to give us a general idea of the weightings people desire in each of the three pillars and also member’s risk tolerance. The Third Phase of the RSC Community Portfolio V3 has us closing in on a finalized portfolio allocation before we consolidated onto the highest quality projects.

Our Current Allocation As Of Phase Three:

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The ReadySetCrypto "Top Ten Crypto" Community Portfolio (V4)

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What is the goal of this portfolio?

The “Top Ten Crypto” portfolio is a democratically proportioned portfolio balanced based on votes from members of the RSC community as to what they believe are the top 10 projects by potential.

This portfolio should be much more useful given the ever-changing market dynamics. In short, you rank the projects you believe deserve a spot in the top 10. It should represent a portfolio and rank that you believe will stand the test of time. Once we have a good cross-section, we can study and make an assessment as to where we see value and perhaps where some diamonds in the rough opportunities exist. In a perfect world, we will end up with a Pareto-style distribution that describes the largest value capture in the market.

To give an update on the position, each one listed in low to high relative risk:

SoV/money == BTC, DCR

Platforms == ETH, XTZ

Private Money == XMR / ZEC / ZEN

DeFi == MKR / SNX and stablecoins

It is the most realistic way for us to distill the entirety of what we have learned (and that includes the RSC community opinion). We have an array of articles that have gradually picked off one by one different projects, some of which end up being many thousands of words to come to this conclusion. It is not capitulation because we all remain in the market. It is simply a consolidation of quality. We seek the cream of the crop as the milk turns sour on aggregate.

Current Top 10 Rankings:

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