![]() ![]() It seemed after Proshares’ introduction of the ProShares Bitcoin ETF ( BITO ) last year may have opened the floodgates, but the SEC hasn’t relented. Given this, it appears the waiting game continues for a spot Bitcoin ETF. Rather, it can be only understood as a substantive judgment on the merits of a spot Bitcoin investment - the kind of substantive judgment that is outside the Commission’s authority,” Grayscale noted in a legal brief. “That stark arbitrariness cannot be justified or reconciled with the Commission’s mandate to treat like cases alike. This is where Grayscale takes issue with the recent denial, noting that its spot Bitcoin product shouldn’t be included as part of a blanket denial. In the eyes of the SEC, it could be a case of same story different filing application. However, the SEC’s spate of recent denials is preventing this from coming into fruition. The move for Grayscale’s GBTC to an ETF would make it a more dynamic investment vehicle, as well as give it more exposure via a public U.S. Even with 2022’s bear market in cryptocurrencies, there’s still high interest in meshing this new asset class with the traditional financial market. Grayscale and other ETF providers’ goals are apparent: getting a spot Bitcoin ETF approval can help bring more institutional money to the digital assets space, especially after last year’s bull run. stock market, but the SEC also denied its approval, noting a lack of investor protection-a common refrain for SEC denials. Recently, WisdomTree also attempted to bring a spot Bitcoin ETF to the U.S. Sarah Smith is a Web Content Producer for ’s attempt at a spot Bitcoin ETF is not the SEC’s latest block. On the date of publication, Sarah Smith did not have (either directly or indirectly) any positions in the securities mentioned in this article. Keep an eye on the company for more updates, especially a closer look at its financials. Could Roblox be next in line for post-IPO stardom? Since coming to the New York Stock Exchange in September, shares have gained almost 40%. ![]() That company similarly specializes in software development for video games. Take, for example, the recent IPO from Unity Software (NYSE: U). For investors now, this could mean that the Roblox IPO comes at the perfect time. Management has said that the pandemic has driven more users to the free-to-play games. Plus, many experts believe this trend will continue to accelerate, especially leading up to the launch of new consoles from Sony (NYSE: SNE) and Microsoft (NASDAQ: MSFT) in time for the holiday shopping season.Īmid the novel coronavirus, games are just simply top of mind. Video games have been a way to pass time, and more importantly, a way to escape the concerns and uncertainty of reality. ![]() Along with that, we have seen more consumers than ever turn to gaming. One of the biggest pandemic trends investors have noted is the rise of interest in stay-at-home entertainment plays. Why? The answer to that question can be found in the major trends the company rides. It is clear that we know very little about the Roblox IPO, yet it is generating a ton of buzz on Monday. Roblox also has notched 1.5 billion hours of monthly engagement from those users.Beyond that, investors learned during the Series G round that Roblox has reached 115 million monthly users.Leading up to its IPO, Roblox has said it could double that valuation when it comes public.At the time, the company had a $4 billion valuation. Roblox completed a Series G funding round in late February through Andreessen Horowitz.The company may be considering both a traditional IPO and a direct listing, which tech peers Palantir (NYSE: PLTR) and Slack (NYSE: WORK) have taken in the past.With that being said, here are some fast facts about the Roblox IPO: Securities and Exchange Commission to come public. What we know now is that Roblox has filed confidentially with the U.S. Importantly, the game is wildly popular, especially among individuals ages 9 through 15.įor investors, much of the specifics of the deal are unclear. As with other gaming firms, Roblox has also included options to use digital currency to buy premium features. The company specializes in free-to-play games that are available on mobile devices like phones as well as consoles. If you have never heard of Roblox, you may not understand the excitement. ![]()
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