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SEC Rejects Fidelity Spot Bitcoin ETF Proposal

Mary Liu

Summary: According to a public regulatory filing, the U.S. Securities and Exchange Commission (SEC) rejected the Wise Origin Bitcoin Trust, the Bitcoin spot ETF proposal from Fidelity on Wednesday. Similar to its previous refusal, the SEC’s statement raised issues such as manipulation of the stablecoin Tether (USDT), fraud and manipulation on Bitcoin exchanges. The SEC has ...

According to a public regulatory filing, the U.S. Securities and Exchange Commission (SEC) rejected the Wise Origin Bitcoin Trust, the Bitcoin spot ETF proposal from Fidelity on Wednesday.

Similar to its previous refusal, the SEC’s statement raised issues such as manipulation of the stablecoin Tether (USDT), fraud and manipulation on Bitcoin exchanges.

The SEC has been skeptical of spot Bitcoin ETFs for so-called regulatory opacity, The First Trust SkyBridge spot bitcoin ETF proposal was also rejected by the SEC last week.

By Mary Liu

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