SEC Rejects WisdomTree’s Bitcoin ETF Application!

The American Securities and Exchange Commission (SEC) denied Bitcoin ETF A new one has been added to their application.

SEC, New York-based mutual fund of WisdomTree Recently, he rejected his Spot Bitcoin ETF application.

The SEC has publicly announced that it rejected WisdomTree’s application because it felt that spot ETFs were not sufficient for investor safety.

The SEC, America’s most authoritative institution in the field of investment, is generally not very fond of cryptocurrency-based ETFs. However, some of the non-spot-based ETFs are accepted and listed on exchanges.

For example, one of the largest investment institutions in the USA to grayscale belonging to Bitcoin Trust ETF (GBTC)SEC accepted and listed on the over-the-counter markets. Months later, Grayscale filed a new application for the ETF to take a spot form. However, the spot ETF application was not approved by the SEC.

This isn’t the first time the SEC has denied WisdomTree. The mutual fund also submitted an application to the authority for a spot Bitcoin ETF last year and was instantly rejected.

What is an ETF? What Does It Do?

ETFExchange Traded Fund, with its Turkish name, is mutual funds that try to reflect the performance of the index to their own products, based on an index.

Mutual funds allow long-distance investors to invest without the bureaucracy. For example, you can invest in the Nasdaq 100 index of the USA by purchasing from the fund of an investment company serving in Turkey.

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