See Credit Details Below
Overview
On January 10, 2024, the Securities and Exchange Commission (SEC) approved the listing and trading of several spot bitcoin exchange-traded products (ETPs). The approvals followed several years of back and forth with the SEC, during which time the SEC disapproved more than 20 exchange rule filings for spot bitcoin ETPs and, more immediately, followed successful litigation against the SEC by one of the spot bitcoin ETP issuers challenging the SEC’s disapprovals. While spot bitcoin ETPs are now listed and traded, it remains to be seen the extent to which other types of crypto ETPs may receive the same approvals. During this session, the speakers will discuss:
- Differences between 1933 Act only registered ETPs and 1940 Act registered exchange-traded funds (ETFs) (10 minutes)
- The process for listing and trading ETP shares (as opposed to that for 1940 Act ETFs) (10 minutes)
- Summary of the SEC’s bitcoin ETP listing disapprovals (10 minutes)
- Summary of the successful litigation against the SEC (10 minutes)
- Discussion of the post-litigation bitcoin ETP registration and listing process (15 minutes)
- Looking to the future of crypto ETPs (5 minutes)
Who Should Attend: In-house counsel, outside attorneys, bankers, securities litigators, compliance personnel, technology, and other allied professionals interested in better understanding the SEC’s approval of the listing and trading of spot bitcoin exchange-traded products (ETPs).
Program Level: Update
Prerequisites: None
Advanced Preparation: None
Faculty:
J. Stephen Feinour Jr.
Stradley Ronon Stevens & Young, LLP
Susan Gault-Brown
Stradley Ronon Stevens & Young, LLP
Miranda Sturgis
Stradley Ronon Stevens & Young, LLP