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SEC rejects VanEck’s spot Bitcoin ETF as BTC price falls below $63K
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The U.S. Securities and Exchange Commission, or SEC, has officially disapproved asset manager VanEck’s spot Bitcoin exchange-traded fund months after the firm submitted its application.
According to a Nov. 12 filing, the SEC rejected a proposed rule change from the Cboe BZX Exchange to list and trade shares of VanEck’s Bitcoin (BTC) Trust. Specifically, the SEC said any rule change in favor of approving the ETF would not be “‘designed to prevent fraudulent and manipulative acts and practices” nor “protect investors and the public interest.”
“The Commission concludes that BZX has not met its burden under the Exchange Act and the Commission’s Rules of Practice to demonstrate that its proposal is consistent with the requirements of Exchange Act
Read more on cointelegraph.comAbout this in other media
Bitcoin ‘solidifies’ support at $58K as BTC price volatility hits 7-month low cointelegraph.com /2 years ago
Analysts pinpoint bull and bear scenarios as Bitcoin price dips below $56K cointelegraph.com /2 years ago
El Salvador’s Bitcoin City, BTC Bonds Plans Met With Mixed Reaction cryptonews.com /2 years ago
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