Bitcoin

SEC rejects WisdomTree’s Bitcoin ETF proposal

The U.S. Securities and Exchange Commission is expected to reject WisdomTree’s proposal to launch an exchange-traded spot bitcoin fund.

In its order, stated that the denial was necessary to protect investors from “fraudulent” and “manipulative” practices.

VanEck’s spot Bitcoin ETF proposal was also rejected in early November.

According to James Seyffart of Bloomberg Intelligence, the regulator will most likely turn down cryptoin’s spot ETF offer before Christmas.

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While the SEC unveiled futures-based ETFs in October, the regulator is reluctant to approve an ETF that directly tracks the value of the largest cryptocurrency. two thousand thirteen.

As reported by U.Today, SEC chairman Gary Gensler recently said that Bitcoin is traded globally on unregulated exchanges that operate outside of the U.S. regulatory registry. This explains why the regulator is not getting involved in a spot Bitcoin ETF.

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.