When the SEC is mentioned, ETFs are one of the most important issues related to the crypto money market. The SEC, which approved a futures Bitcoin ETF last year, has yet to approve a spot Bitcoin ETF.
The last of these refusals came today. The Bitcoin ETF application made by Fidelty company in May was rejected by the SEC today.
Fidelity, who applied, made a new application after this rejection news.
SEC Filed for Metaverse ETF
The content of the ETF made by Fidelity will represent the performance of global companies engaged in activities related to cryptocurrencies, blockchain technology and digital payment transactions.
It is emphasized that this ETF, which is the first application to come from the SEC on cryptocurrencies and digital payments in the metaverse area, is extremely important for the crypto money market if accepted.
However, the SEC, which rejects Bitcoin spot ETF applications, shows that the market is too open to manipulations as a reason.
For the same reason, it is anticipated that this latest ETF by Fidelity will not be accepted at this stage.