Latest news with #SecuritiesandExchangeCommission
Yahoo
16 hours ago
- Business
- Yahoo
World's Largest Publicly Traded Hedge Fund Enters ETF Space
Man Group, the world's largest publicly traded hedge fund manager, filed a preliminary prospectus for two active fixed-income ETFs, marking the London-based firm's first entry into exchange-traded fund distribution as alternative managers increasingly turn to ETFs for access to complex strategies. According to the June 13 filing with the Securities and Exchange Commission, the Man Active High Yield ETF and Man Active Income ETF will use active bond strategies, including derivatives, high-yield bonds, emerging markets exposure and illiquid credit investments—bringing institutional-grade bond management to everyday investors through ETFs. The move represents more than just another ETF launch in an already crowded marketplace. It signals how ETFs are evolving from their origins as simple baskets for broad market exposure into ways to deliver complex investment strategies once available only to hedge funds and large institutional investors. The Man Active High Yield ETF will invest at least 80% of net assets in high-yield securities rated below investment grade, according to the filing. The fund may invest up to 30% in securities rated below B3 by Moody's Investors Service or lower than B- by S&P Global Ratings or Fitch Ratings. The Man Active Income ETF seeks to generate current income as its primary objective, with capital growth as a secondary objective, according to the filing. The fund will invest across four primary sectors: high-yield corporate debt, investment-grade corporate debt, government and agency debt, and securitized debt. The filing reflects how ETFs have evolved from simple, index-tracking funds into vehicles for active strategies. For newer investors, this opens access to institutional-grade tools they couldn't reach before, but it also brings complexity. The filing reveals active bond management approaches from a firm known for its expertise in hedge funds. The strategies may invest in distressed securities, contingent convertible bonds and bank loans with extended settlement periods, according to the filing. Both funds are non-diversified and may use derivatives for hedging and return enhancement, including futures, options, swaps and credit-linked notes, according to the filing. GLG Partners LP serves as sub-adviser with portfolio managers Michael Scott overseeing the High Yield ETF and Jonathan Golan managing the Income ETF. Man Group reported $172.6 billion in assets under management as of March 31, according to its April trading statement. The firm saw $3.6 billion in net inflows during the first quarter despite geopolitical and economic | © Copyright 2025 All rights reserved
Yahoo
19 hours ago
- Business
- Yahoo
Thai SEC Consults on Rules Allowing Exchanges to Offer Utility Tokens
Thailand's Securities and Exchange Commission (SEC) opened a consultation on rules for exchanges to issue their own utility tokens. The regulator is proposing allowing crypto exchanges, or a person related to the exchange, to issue utility tokens for blockchain transactions, it said on its website. Exchanges will have to disclose the names of anyone related to token issuers so the SEC can monitor for insider trading. The consultation comes as the regulator looks to strike a balance between allowing innovation while preventing illicit activity. In May it said citizens will be blocked from accessing crypto exchanges including Bybit and OKX from June 28, citing violations of the Digital Asset Business Act. In March it added Tether's USDT stablecoin and Circle's (CRCL) USDC to its list of approved tokens that can be traded on exchanges. Previously, only bitcoin BTC, ether ETH, XRP XRP, stellar XLM and some tokens used in the Bank of Thailand's settlement system were approved by the SEC. Thailands' SEC will be gathering opinions on its rules up until July 21, it said. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
3 days ago
- Business
- Yahoo
Which Cryptocurrency Is More Likely to Be a Millionaire Maker: Solana vs. Ethereum
Solana and Ethereum are both leaders in cryptocurrency today. Ethereum has the edge in regulatory clarity and size, but not in its costs for users. Solana has the edge in speed as well as in developer enthusiasm, at least for now. 10 stocks we like better than Ethereum › Investors looking for life-changing gains in cryptocurrency face a familiar fork in the road. One path is paved by Ethereum (CRYPTO: ETH), the chain that made many millionaires during the 2021 bull run. Ethereum still commands the deepest liquidity in all of crypto, not to mention a large and enthusiastic base of holders and developers. The other is the express lane championed by Solana (CRYPTO: SOL), purpose-built for speed and cost efficiency, and the favorite of meme coin traders everywhere. Both roads look promising at first glance, yet the odds of either coin printing millionaires from today's prices are slimmer than social media hype suggests. Still, relative advantage matters. If one network can compound value even a few percentage points faster, the payoff over a decade could dwarf the other. Let's compare and contrast their chances. Even in 2025, Ethereum remains the capital city of crypto development. It hosts the largest absolute developer base by a wide margin, and it's the second-largest by market cap, with a cap of $343.3 billion. At the same time, exchange-traded funds (ETFs) holding Ether began trading last summer, and already vacuumed up $3.5 billion in net inflows, with another $450 million arriving from June 1 to June 11 alone. That steady bid from holders of big amounts of capital gives Ethereum a funding source Solana can only envy for now. Nonetheless, its gas fees and slow transaction times have been difficult problems to solve, even with its latest major update called Pectra, which just launched. While it's true that fees fell a lot compared to yesteryear, neither transaction volume nor its sum of active wallet addresses moved meaningfully higher. Cheaper usage is welcome, but falling demand hints that Ethereum's moat is eroding at the edges. Still, regulation works in Ethereum's favor for now. The Securities and Exchange Commission (SEC) approved spot Ether ETFs last year without labeling it a security, which would imply a dramatically higher regulatory compliance burden for the coin as well as probably the projects in its ecosystem. That tacit blessing lowers existential risk for holders and it directly enables the institutional investors that are now allocating to the asset. The catch when it comes to the coin's millionaire-maker potential is its valuation. Turning a $10,000 stake into $1 million would require another 100-fold rise, which is almost certainly not going to happen, as there aren't any catalysts in sight that would help it along, nor is there enough circulating capital in the financial system, given the coin's current market cap. Solana courts investors with a different pitch, as it offers near-instant transaction settlement and fees that are so low that they're usually negligible. Crypto developers are voting in favor of that proposition with their feet. Solana was the No. 1 destination for new developers in 2024, and saw its developer count jump 83% year over year. That talent inflow is translating directly into user traction. Solana now handles 81% of all on-chain decentralized exchange (DEX) transactions in the crypto sector, and as many as 64% of non-fungible token (NFT) mints. Fresh capital catalysts are lining up, too. Canary Capital filed an S-1 for a spot Solana ETF on May 21. Approval by regulators is far from guaranteed, but even a credible review process could legitimize the asset for advisors who currently cannot touch it. Meanwhile, Solana's speed, cost profile, and compression tricks make it a natural playground for artificial intelligence (AI) projects in crypto, as well as sensor-rich decentralized physical infrastructure (dePIN) protocols seeking sub-penny fees. Alas, the upside math for making a millionaire with an investment in Solana is hardly any kinder than for Ethereum. Its market cap is nearly $90 billion. A tenfold climb over the next 10 years might be believable, but the 100x climb that'd be necessary to turn an investment of $10,000 into $1 million quite simply does not pass the sniff test. Even the most outrageous pipe dreams of the coin's most hardcore evangelists would not be enough to create growth of that scale, even when considering very long time frames. That doesn't mean that Solana or Ethereum are bad investments whatsoever. If your risk tolerance cannot stomach the potential for regulatory surprises, Ethereum remains the steadier grind despite its warts. On the other hand, if you can handle turbulence and believe that speed, low fees, and a growing population of developers will keep grabbing market share, Solana looks like the better option, even if it won't make you into a millionaire. Before you buy stock in Ethereum, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Ethereum wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $660,821!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $886,880!* Now, it's worth noting Stock Advisor's total average return is 791% — a market-crushing outperformance compared to 174% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 9, 2025 Alex Carchidi has positions in Ethereum and Solana. The Motley Fool has positions in and recommends Ethereum and Solana. The Motley Fool has a disclosure policy. Which Cryptocurrency Is More Likely to Be a Millionaire Maker: Solana vs. Ethereum was originally published by The Motley Fool
Technical.ly
3 days ago
- Business
- Technical.ly
The ABC's of equity crowdfunding: What founders should know
When an individual or entity invests in a startup, they typically do so in return for an ownership stake, otherwise known as equity. In 2012, President Obama signed the Jumpstart Our Business Startups Act (JOBS Act). Title III — Regulation Crowdfunding (or Reg CF) — allowed smaller companies to crowdfund investments online from many smaller investors. Reg CF allowed everyone into the world of private-company investment, including companies not registered or trading shares on national exchanges. Previously, the Securities and Exchange Commission (SEC) allowed only 'accredited investors,' aka people who meet certain wealth or income thresholds, to invest in private companies. The SEC finalized the Reg CF rules in May 2016, and in less than a decade, equity crowdfunding grew from curiosity to a major force in equalizing access to startup capital. Now early or mid-stage companies seeking investment can use the power of the internet and their existing networks to raise capital and, just as importantly, awareness. Other benefits unique to this model include the ability to: Broaden your investor base Turn your customers into marketers Incentivize your investors Prove value to institutional investors View the full Fundraising Guide Equity crowdfunding equalizes access to startup capital So how does it work? Companies (issuers) can raise up to $1.07M over a 12-month period by selling different types of securities that represent ownership, future ownership or debt obligations. Issuers set minimum and maximum ranges for the overall raise and individual investment minimums (SEC regulations limit maximum individual investment through an income/net-worth formula). Issuers must file CPA-reviewed financial statements and a legal document (Form C) with the SEC, which contains certain disclosures about the company. They also must file at least one year-end report. Issuers sell their securities over a portal approved by FINRA (Financial Industry Regulatory Authority). There are currently around 55 portals. The biggest ones have lists that contain hundreds of thousands of potential investors, along with media and industry insiders. Securities sold pursuant to Reg CF are restricted, meaning investors must generally hold them for one year before selling them, though there are exceptions. Regulatory compliance Whenever you raise a round of financing, whether a SAFE, Convertible Note or Priced Preferred (or Common) Stock round of financing, one of two things must happen from a regulatory perspective: You file a full 'Registration Statement' with the Securities and Exchange Commission. Similar to an IPO filing, it's very expensive and time consuming. You qualify for an exemption to avoid filing a Registration Statement. For example, you are exempt and file under 506(b) or 506(c) of Regulation D ('Reg D') of the Securities Act. If you do not file a Registration Statement or qualify for an exemption such as 506(b) or (c) under Reg D, and are not otherwise exempt under Section 4(a)(2), YOU HAVE VIOLATED THE SECURITIES LAWS. Federal securities regulations (dealing with the SEC) The Securities and Exchange Commission (SEC) is a federal agency tasked with administering the Securities Act of 1933, as amended, along with others. The Securities Act of 1933, as amended, is also known as the Securities Act or '33 Act. Even when your offering of securities is exempt, you often will need to file a form of some kind with the SEC to perfect the exemption. Careful attention must be given to selecting the correct form and properly completing it. All forms are filed with 'EDGAR', the SEC's Electronic Data Gathering, Analysis, and Retrieval System. Blue Sky laws (dealing with states) State-level securities statutes and regulations are commonly referred to as 'Blue Sky laws.' The Blue Sky laws of each state are different, and generally require some action be taken at the state level to perfect your exemption. Blue Sky issues relating to securities offerings arise primarily in three areas: 1. Securities exemptions and filing requirements. 2. Antifraud liability that may arise from a securities offering. 3. Licensing and registration requirements for securities industry personnel participating in a securities offering. It is recommended to seek legal counsel on regulatory compliance whenever you raise funding.
Yahoo
3 days ago
- Business
- Yahoo
Fidelity, Franklin Prep Solana ETFs with Staking
In the crypto ETF world, there's a lot at stake. Eight asset managers have filed or refiled Solana ETF trusts with the Securities and Exchange Commission over the past several days. The barrage of filings suggest that the regulator has been in talks with the firms about their proposals. Amended documents often indicate that companies are incorporating changes that the SEC wants to see — and the development hints that spot Solana ETFs may be approved relatively soon. 'Crypto filings generally see some back-and-forth conversation with the SEC, but it seems like Solana ETFs have a high probability of being approved within the next few months, according to precedent set by previous crypto products,' said Roxanna Islam, head of sector and industry research at TMX VettaFi. READ ALSO: BlackRock Dumps 14 Funds, Many Being Sustainable Products and What the Israel-Iran Conflict Means for Sector ETFs The recent filings have been updated to allow the proposed Solana ETFs to stake a portion of their shares. Staking, in which owners pledge tokens that are used to help secure the network, allows owners to get rewards in the form of more Solana. While the SEC recently expressed concerns with a pair of proposed Ethereum and Solana ETFs that would use staking, the agency's Division of Corporation Finance has also commented that staking does not amount to a securities offering under the Securities Act of 1933. The proposed Solana ETFs come from a variety of issuers: Five that would trade on the Cboe BZX Exchange include products from Fidelity, VanEck, Franklin Templeton, Bitwise, and 21Shares. The Grayscale Solana ETF would trade on NYSE Arca, while the Coinshares Solana ETF would trade on the Nasdaq. The Canary Marinade Solana ETF did not specify which exchange it would use. Stake Through the Heart: 'Ethereum ETFs were denied staking when they were first launched, but since then have filed for staking approval,' Islam said. 'While the SEC has not yet approved staking for Ethereum ETFs, it's possible it could potentially be approved alongside Solana ETFs.' This post first appeared on The Daily Upside. To receive exclusive news and analysis of the rapidly evolving ETF landscape, built for advisors and capital allocators, subscribe to our free ETF Upside newsletter.
