Second Rejection from SEC to ARK Invest and 21Shares’ Spot Bitcoin ETF

The US Securities and Exchange Commission (SEC) has once again rejected the “ARK 21Shares” spot Bitcoin (BTC) exchange-traded fund (ETF), which it previously rejected.

SEC January 26 In the resolution text published on 09.07.2018, it rejected Cathie Wood’s investment firm Ark Invest and 21Shares’s request to create a spot Bitcoin ETF for the second time. As the reason for the refusal of the institution fraud and manipulation possibilities yet unblocked suggested it to be.

In the SEC decision text, the current status of Bitcoin price fraud and to manipulation to be open going on and such applications detection and your oversight for large enough and a regulated exchange with a comprehensive surveillance and audit sharing agreement stated that it should be done.

On the other hand, the institution ETF is considered to be listed. BZX Cboe exchange for the control and security of Bitcoin unable to provide qualifications conveyed his thoughts.

What Happened?

The previous spot Bitcoin ETF application by Ark Invest and 21Shares was last year. April per month similar reasons arguing that had been rejected. Later, the two companies reapplied for the spot Bitcoin ETF.

SEC official for decision scheduled for November last year Sherry Haywoodin order for the institution to make a decision for more time He stated that he needed it and postponed it to 27 January.

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