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Iranian Foreign Ministry Spokesperson: Apart from Switzerland acting as an intermediary, communication channels between Iran and the US special envoy remain open.On January 12th, analysts at Metzler Asset Management noted in a report that domestic politics in Japan are once again putting pressure on the yen. Sources indicate that Prime Minister Sanae Takaichi is considering dissolving the House of Representatives, which could trigger a new general election in February. Analysts stated that although the Prime Ministers Liberal Democratic Party currently holds slightly less seats in the House than the absolute majority needed, polls suggest it may win more seats in the new election. "Market participants may worry that this will lead the government to take further measures to curb prices, thereby reducing the likelihood of a Bank of Japan interest rate hike, and thus putting downward pressure on the yen."On January 12th, the Hang Seng Index opened more than 100 points higher and trended upward throughout the day. In the afternoon, driven by a surge in tech stocks and AI applications, the Hang Seng Index rallied by over 300 points, breaking through the 26,500 mark. The Hang Seng Tech Index performed strongly throughout the day, rising over 3% at one point in the final minutes of trading. At the close, the Hang Seng Index rose 1.44% to 26,608.48 points, and the Tech Index rose 3.1% to 5,863.2 points. The total turnover of the Hang Seng Index reached HK$306.223 billion (compared to HK$245.13 billion in the previous trading day). On the sector front, AI applications led the gains, while tech stocks and internet healthcare performed well. Oil and gas equipment and lithium battery sectors saw the largest declines. In terms of individual stocks, Alibaba Health (00241.HK) closed up 10.23%, Kuaishou (01024.HK) closed up 7.43%, Zhipu (02513.HK) closed up 31.4%, Alibaba (09988.HK) closed up 5.32%, and CATL (03750.HK) closed down 2.45%.The Hang Seng Index closed up 376.69 points, or 1.44%, at 26,608.48 on Monday, January 12; the Hang Seng Tech Index closed up 176.06 points, or 3.1%, at 5,863.2; the H-share Index closed up 171.55 points, or 1.9%, at 9,220.08; and the Red Chip Index closed up 12.89 points, or 0.31%, at 4,113.96.Hong Kong stocks closed higher, with the Hang Seng Index rising 1.44% and the Tech Index rising 3.1%. The AI application sector saw a collective surge, with Zhipu (02513.HK) rising 31.4% and MINIMAX-WP (00100.HK) rising 15.36%.

U.S. SEC rejects Grayscale’s spot bitcoin ETF

Jimmy Khan

Jun 30, 2022 14:32

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On Wednesday, the U.S. Securities and Exchange Commission denied Grayscale's application to establish a spot bitcoin exchange-traded fund (ETF) on NYSE Arca, one of the largest digital asset managers in the world.


The regulator said in a document that Grayscale's proposal by NYSE Arca did not adhere to the requirements for exchanges created to stop fraudulent and manipulative actions and safeguard investors and the general public interest.


The SEC clarified that their decision was not based on "a determination of the usefulness or value of bitcoin, or blockchain technology more broadly, as an invention or an investment."


An inquiry for comments was not immediately answered by Grayscale.


Over the last year, the SEC has turned down more than a dozen applications for spot bitcoin ETFs, mostly due to the absence of any surveillance-sharing arrangements with a regulated market of size that is relevant to the underlying assets.


The biggest digital currency, bitcoin, has lost roughly 70% of its value since reaching a high of approximately $69,000 in November.


As a result of investors selling riskier assets in reaction to rising inflation and major central banks' tightening of policy, which has raised concerns about a recession, the price of cryptocurrencies and equities tied to the industry has fallen sharply in recent months.


Fidelity, SkyBridge, and Valkyrie were among the issuers of spot bitcoin ETFs that the SEC rejected recently. They were all attempting to provide simple access to the virtual currency.

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