The United States Securities and Exchange Commission, or SEC, has officially rejected the ARK and 21Shares Bitcoin - BTC, exchange traded fund - ETF application.
The SEC said the proposed rule change, originally published for comment in the Federal Register in August 2021, would not be designed to prevent fraudulent and manipulative acts and practices or protect investors and the public interest.
ETF provider WisdomTree launches Solana, Cardano and Polkadot exchange traded products
The SEC said the Cboe BZX exchange had failed to meet the listing requirements for a financial product under its rules of practice as well as those of the Exchange Act.
According to these restrictions, exchanges that want to list a Bitcoin ETF need to have a shared surveillance agreement with a regulated market of significant size related to the underlying or reference Bitcoin assets.
SEC Bitcoin
Bitcoin ARK
Spot 21Shares
21Shares Bitcoin
Loading
Comments