Express

Vaneck's Spot Bitcoin ETF Is Rejected By The SEC

Mary Liu

Summary: Vaneck's filing for a spot Bitcoin ETF --VanEck Bitcoin Trust (BZX)--was rejected by the US Securities and Exchange Commission (SEC), according to a notice published on Friday. The SEC stated that the BZX failed to prove that it complied with the rules, mentioned concerns about preventing fraud and manipulation, protecting investors and the public interest. ...

Vaneck's filing for a spot Bitcoin ETF --VanEck Bitcoin Trust (BZX)--was rejected by the US Securities and Exchange Commission (SEC), according to a notice published on Friday. The SEC stated that the BZX failed to prove that it complied with the rules, mentioned concerns about preventing fraud and manipulation, protecting investors and the public interest.

As SEC Chairman Gary Gensler has repeatedly stated that he prefers Bitcoin futures ETFs to spot Bitcoin ETFs, Friday's resolution is in line with industry expectations.

Data from the Bitpush Terminal shows that as of press time, BTC was trading around $63K, a 24-hour drop of nearly 4%.

By Mary Liu

Last Update:

Tags: ,,
Link: Vaneck's Spot Bitcoin ETF Is Rejected By The SEC   [Copy]
Next:

Related Articles

  • The GENIUS Act & Stablecoin Regulation: BRG's Dominic Zagara on Crypto's Defining ... 4 hours ago
  • Bitcoin Weekly Analysis: Volume-Price Divergence and High-Level Consolidation Anticipat... 3 days ago
  • Will Introduction of the Stablecoin Act Trigger a Financial Tsunami? 4 days ago
  • Trump Just Opened the Floodgates: What Happens When $9 Trillion in Retirement Money Hit... 7 days ago
  • US Crypto Stash Shock: Marshals' Low BTC Count Fuels 'Secret Sale' Debate, Ignites Buyb... 8 days ago

    • You need to login to comment.