The US Securities and Exchange Commission (SEC) rejected WisdomTree’s application to set up a Bitcoin ETF.
The SEC has filed WisdomTree’s application to set up an exchange-traded fund that will invest in bitcoin. risk for investors refused on the grounds.
SEC so far to the spot bitcoin market has not approved any ETF applications with plans to invest. So it’s not surprising that WisdomTree’s application was rejected.
Among the names the Securities and Exchange Commission has recently rejected is Grayscale Investments, one of the world’s largest crypto asset managers, affiliated with the Digital Currency Group.
WisdomTree has applied in the past to set up a bitcoin ETF, which the SEC rejected in 2021.