The Securities and Exchange Commission (SEC) is delaying its decision on VanEck and Cboe's application to list a bitcoin exchange-traded fund. The SEC published an order on 28 April extending its 45-day decision window to 90 days.

Germany’s Financial Supervisory Authority BaFin has warned investors the cryptocurrency exchange Binance may have violated European securities rules with the launch of its stock tokens.

Yesterday, Ether (ETH) rose to a new all-time high near $2,700. That has inspired traditional Wall Street firms to provide investment research coverage.

Top stories in the Crypto Roundup today:

• SEC Delays Decision for VanEck's bitcoin ETF Filing
• Binance’s Stock Tokens May Violate Law, Germany’s Financial Watchdog Says
• Ether Soars to New All-Time High and JPMorgan Notices

SEC Delays Decision for VanEck's bitcoin ETF Filing

The Securities and Exchange Commission (SEC) is delaying its decision on VanEck and Cboe's application to list a bitcoin exchange-traded fund. The SEC published an order on 28 April extending its 45-day decision window to 90 days.

The SEC has now given itself an extra 45 days to consider the proposal. The order designates June 17, 2021, as the decision deadline, though this window could be extended further to encompass a 240-day decision period.

"Accordingly, pursuant to Section 19(b)(2) of the Act, the Commission designates June 17, 2021, as the date by which the Commission shall either approve or disapprove, or institute proceedings to determine whether to disapprove, the proposed rule change," said the order.

Binance’s Stock Tokens May Violate Law, Germany’s Financial Watchdog Says

Germany’s Financial Supervisory Authority BaFin has warned investors the cryptocurrency exchange Binance may have violated European securities rules with the launch of its stock tokens.

In an announcement made yesterday, BaFin said the Binance stock tokens, tracking the movement of shares in Tesla, Coinbase and MicroStrategy, have been identified as “suspicious” and require a prospectus that wasn't issued prior to trading.

According to BaFin, the violation of the prospectus constitutes an administrative offence and can be punished with a fine of up to €5 million ($6 million) or 3% of Binance’s annual revenue.

Ether Soars to New All-Time High and JPMorgan Notices

Yesterday, Ether (ETH), the second-largest cryptocurrency by market cap, rose to a new all-time high near $2,700. That has inspired traditional Wall Street firms to provide investment research coverage.

JPMorgan, in a report Tuesday titled “Why is ETH outperforming?,” suggests the cryptocurrency’s valuations may be less dependent on demand from leveraged traders than for bitcoin (BTC). That might provide an important tailwind.

“Both BTC and ETH markets experienced comparable liquidity shocks earlier this month, which triggered a comparable de-leveraging of their respective derivatives markets in subsequent days," according to the JPMorgan analysts.

State of the Crypto by Top Tier Exchange Volume

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