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11 Bitcoin ETPs approved by SEC, as Gensler calls BTC “non-security”
Bay Area Times
January 11, 2024
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Top stories today:
- 11 Bitcoin ETPs approved by SEC, as Gensler calls BTC “non-security”
- OpenAI launches GPT Store, Team plan
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- Crypto VC funding -50% to $1.8B in Q4
0. Data and calendar
All values as of 6 AM ET / 3 AM PT, other than S&P500 close (4 PM ET / 1 PM PT).
All times are ET.
1. 11 Bitcoin ETPs approved by SEC, as Gensler calls BTC “non-security”
Bitcoin’s price was little changed, as the news appeared to be priced in:
Motivation of the approval: the U.S. Court of Appeals ruling on the Grayscale case, which said that the SEC “failed to adequately explain its reasoning in disapproving the listing and trading of Grayscale’s proposed ETP [exchange-traded product].”
Yet, the SEC does not “approve or endorse bitcoin.”
The FBI is now involved in investigating Tuesday’s false X post about an ETP approval.
ETP providers are promising fees as low as 0%, vs. 1.5% for Grayscale’s Trust
2. OpenAI launches GPT Store, Team plan
The Team version is a self-service pro plan at $25/mo/user, vs. $20 for Plus and $30-60 for Enterprise
OpenAI is also in talks with CNN, Fox, and Time to license their news content.
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