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The U.S. Securities and Exchange Commission (SEC) is reportedly swatting down Solana (SOL)-based exchange-traded fund (ETF) applications in the final weeks of Gary Gensler’s tenure as the regulator’s chair. Fox Business journalist Eleanor Terrett, citing unnamed sources, says the SEC has notified at least two of the five SOL ETF applicants that their filings will be rejected. Terrett also says the current SEC administration has no plans to green-light any of the other applications. The financial firms VanEck, 21Shares, Canary Capital and Bitwise have all filed to offer SOL ETFs, and crypto asset manager Grayscale also recently applied to convert its Solana Trust into a spot exchange-traded fund. Eric Balchunas, a senior ETF analyst at Bloomberg, predicts the firms will reapply with the new SEC regime next year. “This was [Gensler’s] parting gift I guess.” After Donald Trump’s election victory last month, Gensler announced he ...

Bloomberg’s ETF analysts haven’t ruled out the possibility that SEC Chair Gary Gensler may reject pending spot Bitcoin ETF applications at the eleventh hour. There’s a remote possibility that Gary Gensler, chair of the U.S. Securities and Exchange Commission, could abruptly deny all pending spot Bitcoin (BTC) ETF applications, a move described as “amazingly sadistic” by Bloomberg ETF analysts . On Oct. 31, ETF commentator Dave Nadig took to X (formerly Twitter) to question senior Bloomberg ETF analysts James Seyffart and Eric Balchunas, speculating whether SEC Chair Gary Gensler might be accumulating spot Bitcoin ETF applications, only to collectively reject them in a move he dubbed a “semi-comedic rug-pull .” I'm sure it will be much more boring than this — but sometimes it does feel like this is all a setup for a giant Gensler semi-comedic rug-pull . — Dave Nadig (@DaveNadig) October 30, 2023 Responding to the comment,...

On Monday, the U.S. Securities and Exchange Commission (SEC) filed charges against the celebrity and socialite Kim Kardashian for unlawfully promoting the crypto asset Ethereummax. The U.S. regulator detailed that Kardashian agreed to settle the charges and pay $1.26 million in penalties, and plans to cooperate with the SEC’s ongoing investigation. Kardashian Charged by SEC, Celebrity Agrees to Pay $1.26M in Penalties and Will Not Tout Any Crypto Assets for 3 Years In mid-June 2021, Bitcoin.com News reported on the reality television series star Kim Kardashian and how she was shilling a token called ethereummax (EMAX). At the time, she shared an Instagram post that was marked as an “#AD,” and Kardashian said she was “sharing what my friends just told me about the Ethereum Max token.” Kardashian wasn’t the only celebrity that shilled EMAX, as the token was also promoted by the professional boxer Floyd Mayweather and former Boston Celtics forwar...