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BitGo CEO Mike Belshe says the market should expect another round of spot Bitcoin ETF reject ions as there are still issues to be resolved. Although the crypto market is seeing signs that a spot Bitcoin (BTC) exchange-traded fund (ETF) will finally be approved somewhat in the near future, BitGo CEO Mike Belshe thinks the industry should prepare for yet another round of reject ions by the U.S. Securities and Exchange Commission (SEC). In an interview with Bloomberg, Belshe, who runs qualified crypto custodian in the U.S., noted that he’s optimistic about the eventual outcome for Bitcoin ETFs, but noted that the market structure still appears to be the main question, which remains unresolved. Belshe particularly noted that prior to FTX’s collapse, disgraced founder Sam Bankman-Fried was attempting to persuade U.S. regulators to follow his vision of how the regulatory framework for the crypto industry should look like. That bet did not pay off for Bankman-Fried, who ...

Digital assets custodian BitGo, will not be going forward with its planned acquisition of its rival crypto custody platform Prime Trust.  BitGo announced the termination of the purchase of Prime Trust via Twitter on June 22. Although the company did not state a reason for breaking off the acquisition deal, BitGo stated that the decision “was not made lightly and BitGo remains committed to our mission to deliver trust in digital assets.” You might also like: US Court grants Galaxy Digital victory, dismisses $100m BitGo lawsuit After considerable effort and work to find a path forward with Prime Trust, BitGo has made the hard decision to terminate its acquisition of Prime Trust. This decision was not made lightly and BitGo remains committed to our mission to deliver trust in digital assets. — BitGo (@BitGo) June 22, 2023 The termination comes only two weeks after BitGo initially announced that it would purchase the company. On June 8, BitGo said it signed...