US SEC Rejects VanEck Spot Bitcoin ETF
The commission released a disapproval letter citing investor protection concerns and the lack of manipulation prevention in the market.The SEC has rejected VanEck’s spot bitcoin ETF proposal.The filer had not demonstrated that its proposal abides by the national requirements for such an offering, the SEC explained in a disapproval letter.It is unclear when the commission would feel comfortable approving a spot BTC ETF in the U.S., but investors can still acquire bitcoin themselves — a better option.The VanEck spot bitcoin exchange-traded fund (ETF) has been rejected by the....
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On Friday, November 12, the U.S. Securities and Exchange Commission (SEC) rejected Vaneck’s bitcoin spot market exchange-traded fund (ETF). The U.S. regulator noted that the denial was due to the lack of prevention toward “fraudulent and manipulative acts and practices.”
SEC Turns Down Spot Market ETF – US Regulator Believes There Should be More Manipulation Protection for Investors
Following the approval of a few bitcoin ETFs that leverage future markets, the SEC has rejected Vaneck’s bitcoin spot market ETF on Friday. So far, the U.S.....
VanEck has had a rollercoaster of a month with its Bitcoin ETFs. After three Bitcoin Futures ETFs were approved by the Securities and Exchange Commission, Spot ETFs became the next big thing as they posed a greater advantage for traders. However, this would prove to not be happening anytime soon as the VanEck Spot Bitcoin ETF was rejected by the regulatory body. However, all hope was not lost for the investment fund as it had doubled back with a bitcoin futures ETF. This time around, VanEck found success as the SEC has approved this ETF. Related Reading | Crypto Analyst Says Bitcoin....
In a recent development, asset manager VanEck joins the list of applicants who have made revisions to their Spot Bitcoin ETF prospectus. Many continue to speculate that these revisions could mean that approval of these funds by the US Securities and Exchange Commission (SEC) is imminent as it forms part of the process before an […]
The wait for a first Bitcoin spot exchange-traded fund continues as the U.S. SEC buys more time to make a decision on VanEck's proposed BTC ETF. The United States Securities and Exchange Commission (SEC) has pushed back a decision on the latest application for a Bitcoin (BTC) spot exchange-traded fund (ETF) by global investment firm VanEck.The company has long been trying to get the green light for what will be the first BTC ETF in America, with its first application lodged with the SEC dating back to 2017, which was eventually denied. VanEck saw a second application ruled out in November....
VanEck believes nothing should prevent the SEC from approving a pure Bitcoin ETF after the regulator greenlighted Bitcoin futures ETFs in 2021. VanEck, one of the first firms in the world to ever file for a Bitcoin (BTC) exchange-traded fund (ETF), is not giving up on its plans to launch a spot Bitcoin ETF in the United States.The firm has refiled an application for a physically-backed Bitcoin ETF with the U.S. Securities and Exchange Commission (SEC).Filed on June 24, VanEck’s latest Bitcoin ETF application comes months after the SEC rejected its previous spot Bitcoin ETF request on Nov.....