The US Securities and Exchange Commission (SEC) rejected VanEck’s application to set up an exchange-traded fund (ETF) to invest in spot bitcoin on Friday.
Giving the green light to exchange-traded funds investing in Bitcoin futures contracts, the SEC announced in a statement released today that VanEck’s application was turned down.
In a statement about why the application was rejected, the SEC said that BZX’s stock market “prevent fraudulent and manipulative behavior and practices” and “protecting investors and the public interest” stated that he did not meet the requirements for
The Securities and Exchange Commission has also filed another ETF application submitted by the Cameron and Tyler Winklevoss twins. for similar reasons rejected, the market may experience to manipulative behaviors expressed his concern about it.
