Top Stories of The Week
Solana ETF regulatory filings flood in as Gensler sets departure date
Cboe BZX Exchange submitted four 19b-4 filings for asset managers to list spot Solana exchange-traded funds (ETFs) on Nov. 21 — the same day the United States Securities and Exchange Commission Chair Gary Gensler confirmed he would resign in January.
If approved, the Bitwise, VanEck, 21Shares and Canary Capital-issued spot Solana ETFs will be listed on the Cboe BZX Exchange.
The 19b-4s inform the SEC of a proposed rule change by a self-regulatory organization such as a financial regulatory body or stock exchange.
They differ from Form S-1 registration statements, which VanEck and 21Shares already submitted for their Solana ETFs in late June and Canary Capital filed four months later, on Oct. 30.
FTX provides timeline for creditor and client reimbursement payouts
The FTX bankruptcy estate updated its timeline for creditor and former customer reimbursements — which should be finalized in January 2025 — with initial payouts expected in March 2025.
According to a Nov. 21 announcement from the collapsed crypto exchange, FTX will arrange reimbursement payments in early December with distribution agents who will handle the payout process and manage the customer payout portal. John J. Ray III, the interim CEO presiding over the FTX bankruptcy, said:
“While we continue to take actions to maximize recoveries, we are full steam ahead to reach arrangements with our distribution agents and return proceeds to creditors and customers as quickly as possible.”
SEC Chair Gary Gensler to step down
United States Securities and Exchange Commission (SEC) Chair Gary Gensler, known for his hardline stance on cryptocurrency regulation, will depart from the agency on Jan. 20, 2025, the securities regulator said in a Nov. 21 announcement.
Gensler will leave the agency on the same day crypto-friendly…
..
