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A man from Missouri is filing a suit against Coinbase for its sale of XRP, a California court filing reveals.

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Asset manager VanEck is taking another crack at approval for a bitcoin exchange-traded fund (ETF). If approved, it would be the first ETF to achieve approval from the U.S. Securities and Exchange Commission (SEC). 

VanEck has filed for a similar product twice before, resulting in withdrawals. After a series of rejections from the SEC last year, it withdrew its previous proposal in September of 2019. It’s now filed a new S-1 with the regulator for another fund, called the VanEck Bitcoin Trust.

The ETF’s shares would be traded on the Cboe BZX Exchange. They will be valued daily based on bitcoin prices on the top five bitcoin exchanges, which will be calculated by affiliate firm MV Index Solutions. The proposed maximum aggregate offering price, which is the number of securities multiplied by the price of each security, is $1,000,000.

A custodian was not named in the preliminary prospectus, which is incomplete and subject to change.

© 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

So far, the SEC has considered many applications for bitcoin-based ETFs and rejected them all.

In an email sent to clients Wednesday, Genesis announced it would be halting XRP trading and lending in the new year.

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Genesis users woke up to an email today informing them that the firm had suspended XRP trading and lending.

The email, which was verified by The Block, said that the digital asset lender had made the move, effective December 29, as a precautionary measure. “Our team is actively monitoring the evolving regulatory situation with XRP,” the message read. 

According to the email, Genesis stopped allowing new spot purchases of XRP on December 29. Users who hold XRP will have until 5 pm on January 15 to sell it — the same day the company will fully suspend XRP trading. XRP withdrawals will be allowed, though Genesis won’t accept any new XRP deposits.

Genesis will also no longer support loans in XRP. Open term loans in the digital currency will be called, and all XRP fixed-term loans maturing on or after February 1 will be called, according to the message. 

The firm’s XRP derivative business will not change, according to the email. Genesis noted that since the situation with XRP is fluid, these stipulations are likely to change.

Genesis declined to comment.

© 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.