US Securities Exchange Commission (SEC) today Ark 21Shares’ spot Bitcoin ETF application announced his decision.
Everyone spot Bitcoin ETFs While waiting for positive news from the SEC on the subject, the SEC again rejected another spot ETF application.
Rejected application to allow listing of Ark 21Shares’ spot Bitcoin ETF Cboe BZX Exchange It was made in his name.
What is the SEC’s Ground for Denial?
The other spot of the SEC Ark 21Shares application is also bitcoin As with ETF decisions “prevent fraudulent and manipulative acts and practices, investor protections and public interest” decided that it did not meet its principles.
The SEC included the following statements in its refusal:
“The application in question must be “designed to prevent fraudulent and manipulative acts and practices” and “to protect investors and public interests.”
The SEC had previously rejected spot Bitcoin ETF applications due to lack of investor protection in its previous decisions.
While the SEC has not changed its mind about the Bitcoin Spot ETF so far, not all SEC members agree on the spot ETF.
For SEC member Hester Peirce He previously said that there is no reason why the spot Bitcoin ETF should not be approved.
Speaking recently about Spot Bitcoin ETFs, Bloomberg analysts James Seyffart and Eric Balchunas He claimed that spot Bitcoin ETFs could start to gain some approval by the summer of 2023.