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SEC Rejects WisdomTree's Bitcoin Spot ETF Proposal
Summary: The US Securities and Exchange Commission (SEC) rejected WisdomTree's proposal to launch a Bitcoin Spot Exchange Traded Fund (ETF). The SEC explained that Cboe BZX Exchange failed to fulfill its responsibilities under the Exchange Act and the Commission’s Rules of Practice to demonstrate that its proposal is consistent with the requirements of Exchange Act Section 6(b)(5), ...
The US Securities and Exchange Commission (SEC) rejected WisdomTree's proposal to launch a Bitcoin Spot Exchange Traded Fund (ETF).
The SEC explained that Cboe BZX Exchange failed to fulfill its responsibilities under the Exchange Act and the Commission’s Rules of Practice to demonstrate that its proposal is consistent with the requirements of Exchange Act Section 6(b)(5), which aims to protect investors from fraud and manipulation.
VanEck's spot Bitcoin ETF proposal was also rejected in early November. Bloomberg Information analyst James Seyffart tweeted that the result was in line with expectations and that the SEC is very likely to reject the Kryptoin spot ETF proposal before Christmas.
By Mary Liu
Tags: Bitcoin ETF,ETF,SEC,WisdomTree
Link: SEC Rejects WisdomTree's Bitcoin Spot ETF Proposal [Copy]
