An Overview of the SEC’s Recently Adopted Exchange-Traded Funds (ETF) Rule
The landscape of government enforcement, private litigation, and federal and state regulation of DIGITAL ASSETS, BLOCKCHAIN, AND RELATED TECHNOLOGIES is constantly evolving. Each quarter, Ropes & Gray attorneys analyze...more
On July 1, 2025, the staff of the SEC’s Division of Corporation Finance issued a statement providing the staff’s views on the application of certain disclosure requirements under the Securities Act of 1933 and the Securities...more
A series of recent Nasdaq proposals make it more important than ever for smaller companies to closely monitor compliance. At the same time, they show that Nasdaq wants to send a market signal about the quality of its listed...more
Recent SEC Administration Changes - SEC Announces George Botic to Serve as Acting Chair of the PCAOB - The Securities and Exchange Commission (the “SEC”) announced on July 21, 2025, that George Botic was designated to...more
As the federal government shutdown continues, digital asset policy attention has shifted toward tax, banking supervision and market structure negotiations. On Capitol Hill, bipartisan Senate talks on crypto market structure...more
On September 17, 2025, the Securities and Exchange Commission (SEC) issued an order (the order) approving new generic listing standards for certain commodity-based exchange-traded products (ETPs), including those backed by...more
On Oct. 6, Delaware’s Court of Chancery dismissed an action seeking to freeze and recover over 1,000 ether (ETH) from two ex-employees of Duelbits, a Curacao-based online crypto casino, holding that ETH is intangible property...more
Introduction - On 29 September 2025, the US Securities and Exchange Commission (SEC) issued notice of an exemptive application filed by Dimensional Fund Advisors LP, et al. (Dimensional) seeking relief (Relief) to offer...more
Who may be interested: Registered Investment Companies; Investment Advisers, Closed-End Funds - Quick Take: As of 12:01 a.m. on October 1, 2025, Congress was unable to pass a continuing resolution to fund U.S. federal...more
On September 29, 2025, the SEC issued a notice relating to an amended application filed by DFA Investment Dimensions Group Inc., et al., (“DFA”) for an exemptive order that would permit registered open-end funds to offer a...more
Since January, the U.S. federal regulatory landscape for digital assets has undergone a legislative and regulatory sea change. Major milestones include the passage of the GENIUS Act, which establishes a federal regulatory...more
Marking a monumental step forward for the launch of crypto asset exchange-traded products (ETPs), the Securities and Exchange Commission (SEC) approved rule changes by three exchanges to adopt generic listing standards for...more
The Securities and Exchange Commission (SEC) approved proposed rule changes by multiple exchanges to adopt generic listing standards for Commodity-Based Trust Shares, including those that hold digital assets such as...more
On Sept. 17, the U.S. Securities and Exchange Commission (SEC) approved new generic listing standards for exchange-traded products (ETPs) that hold spot commodities such as digital assets. This regulatory change allows these...more
Fintech and Digital Asset Companies Announce New Blockchains, Payment Networks - According to a recent press release, a crypto investment firm and a major U.S. payments and fintech company have jointly developed a...more
Direct ownership of crypto-assets or mere exposure to the value of crypto-assets is an investment decision, with both investment methods requiring specific approaches to mitigate and manage risks effectively....more
On 29 July 2025, the US Securities and Exchange Commission (SEC) approved a proposed rule change to list and trade shares of a multi-crypto asset exchange-traded product (ETP), under NYSE Arca Rule 8.201-E. This marks the...more
The Securities and Exchange Commission’s (SEC) July 2025 decision to permit in-kind creation and redemption for cryptocurrency exchange-traded products (ETPs) marks a pivotal moment in digital asset regulation. This approval,...more
The US Securities and Exchange Commission (SEC) approved the use of in-kind creation and redemption mechanisms for cryptocurrency exchange-traded product (ETP) shares on July 29.1 This move aligns crypto-based ETPs with...more
On 29 July 2025, the US Securities and Exchange Commission (SEC) issued an order approving proposed rule changes to permit various exchange-traded products (ETPs) to engage in creations and redemptions of their shares with...more
On 1 August 2025, the Financial Conduct Authority (FCA) issued a press release (the Press Release) announcing that UK retail consumers will soon be able to access crypto exchange traded notes (cETNs) admitted to trading on UK...more
Welcome to the latest edition of Fenwick’s Securities Law Update. This issue contains updates and important reminders on...more
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week....more
US Fintech and Digital Asset Companies Announce Stablecoin Initiatives - A major U.S. fintech company recently announced a partnership with the issuer of the USDC stablecoin “to give financial institutions the ability to...more
On July 29, 2025, the Securities and Exchange Commission (SEC) signaled a significant policy shift, approving orders that permit in-kind creations and redemptions for crypto asset exchange-traded products (ETPs). This marks a...more