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emma699jones

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Earlier this week, asset manager VanEck, on Jan. 15, submitted an application to the SEC for the “Onchain Economy” ETF. According to the filing, the fund aims to invest in a broad range of crypto-focused firms, including software developers, mining companies, exchanges, infrastructure builders, payment providers and other businesses within the cryptocurrency sector.
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Nate Geraci, president of The ETF Store, noted the significance of these filings.
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Gensler’s tenure, which began in April 2021, featured high-profile lawsuits against Coinbase and Binance, as well as a crackdown on unregistered securities offerings. His last day of working is Jan. 20.
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Eric Balchunas, a senior ETF analyst, commented on the flurry of filings:
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Earlier this week, SEC Chief of Staff Amanda Fischer announced her resignation and Internal Revenue Service Commissioner Daniel Werfel would reportedly step down on Trump’s inauguration day.
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Wyoming, in the United States, has introduced a bill to create a Strategic Bitcoin Reserve, joining several other states nationwide ahead of Donald Trump’s presidential inauguration on Jan. 20.
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Lummis, a vocal Bitcoin advocate who introduced the Bitcoin Strategic Reserve bill to the US Senate in July 2024, praised Wyoming representative Jacob Wasserburger for introducing the legislation to “allow permanent funds to diversify into Bitcoin.”
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Lummis said, “This forward-thinking approach will benefit our state as we lead the nation in financial innovation.”
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The bill proposed that the Wyoming state treasurer may use the general fund, the permanent Wyoming mineral trust fund, and the permanent land fund to invest in Bitcoin; however, it was said that under each fund, no more than 3% could be allocated to Bitcoin.
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It was also said that if the total market value of Bitcoin investments in any of the funds surpasses the 3% limit, the state treasurer “shall not be required to sell or otherwise reduce the investments to comply with the limits of this section.”
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It was also said that if the total market value of Bitcoin investments in any of the funds surpasses the 3% limit, the state treasurer “shall not be required to sell or otherwise reduce the investments to comply with the limits of this section.”
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The bill proposed that the Wyoming state treasurer may use the general fund, the permanent Wyoming mineral trust fund, and the permanent land fund to invest in Bitcoin; however, it was said that under each fund, no more than 3% could be allocated to Bitcoin.
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Lummis said, “This forward-thinking approach will benefit our state as we lead the nation in financial innovation.”
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Grayscale cited the warming US policy environment as a key factor. Trump has promised to appoint industry-friendly leaders to key regulatory agencies and make the US “the world’s crypto capital.”
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“In the US, with Trump’s victory, I am aggressively bullish on the US becoming a global leader in the space by the end of the year,” Raj Brahmbhatt, CEO of Web3 settlement company Zeebu, told Cointelegraph in December.
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Less than a month before a new United States presidential administration and Congress are set to be sworn into office, many figures in the digital asset industry are speculating the change in leadership could lead to more favorable regulations and laws.
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For some executives, any change in policy from the US government could be apparent through actions from the Securities and Exchange Commission. Under SEC Chair Gary Genser and his predecessor Jay Clayton, the commission filed several enforcement actions against US crypto firms over allegations of unregistered securities offerings, including against Ripple and Coinbase.
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Ripple is currently appealing an August 2024 judgment in its case against the SEC, which found the firm liable for $125 million.
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Others like Coinbase chief legal officer Paul Grewal seemed to support the implications on the SEC for the US Supreme Court overturning the Chevron doctrine in 2024. The June opinion removed the practice of courts generally deferring to agencies’ interpretations of laws and regulations and required them to “exercise their independent judgment,” suggesting that judges could modify their approach to SEC cases involving digital assets.
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There are several court cases between the SEC and Commodity Futures Trading Commission (CFTC) against crypto firms that are expected to move forward in 2025.
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