The Securities and Exchange Commission (SEC), which oversees the US financial markets, has turned down exchange-traded funds (ETFs) that NYDIG and Global X plan to set up to invest in the spot bitcoin market.
NYDIG Bitcoin ETF with Global X Bitcoin Trust Efforts to establish a spot bitcoin ETF have once again failed, with applications for
In the March 10 decision taken by the SEC, the applications made Article 6(b)(5) of the Exchange Act stated to be inconsistent.
This article states that stock exchanges in the USA “protecting investors and the public interest” for “designed to prevent fraudulent and manipulative behavior” requires.
Global X Digital Assets, which applied to list the Global X Bitcoin Trust on Cboe BZX, submitted this application in July of last year. The application made by NYDIG was dated June 30, 2021.