The SEC has not approved the WisdomTree application to launch a spot bitcoin ETF
It does not meet the requirements of the Exchange Act
03.12.2021 - 07:45
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What’s new? The US Securities and Exchange Commission (SEC) has rejected the joint application by the WisdomTree management company as well as the Chicago Board Options Exchange's alternative platform BZX to register the spot bitcoin ETF.
The application on the SEC website
What are the reasons for the rejection? The SEC explained that the application filed did not meet the requirements of Section 6(b)(5) of the Exchange Act. Specifically, it lacked a joint supervision agreement.
A similar explanation was contained in the SEC’s refusal to list the same tool from VanEck. At the same time, the commission has already approved a bitcoin futures ETF from this company.
What are the SEC's plans? On December 24, the regulator should consider an application to launch a spot bitcoin ETF from Kryptoin. Upcoming are from Valkyrie Digital Assets, SkyBridge Capital with First Trust Advisors, Fidelity Investments, 21Shares with ARK Invest, Global X, Bitwise, and Grayscale Investments.
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