SEC Rejects Vaneck Bitcoin Spot Market ETF Over Price Manipulation Concerns
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.....
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The commission released a disapproval letter citing investor protection concerns and the lack of manipulation prevention in the market.
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....
Similar to its December 2021 rejection of a WisdomTree spot Bitcoin investment vehicle, the SEC cited concerns about fraud and market manipulation. The United States Securities and Exchange Commission, or SEC, has disapproved of a rule change that would allow exchange-traded fund (ETF)provider WisdomTree to list and trade shares of a Bitcoin ETF.According to an Oct. 11 filing, the SEC rejected a proposed rule change that would have allowed WisdomTree to list and trade shares of its Bitcoin BTC Trust on the Cboe BZX Exchange after several delays due to extensions and comment periods.....
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 Cboe BZX Exchange used the examples set by CME's crypto futures products in its argument for approval, but the SEC rejected them. The United States Securities and Exchange Commission, or SEC, has officially disapproved asset manager WisdomTree’s spot Bitcoin (BTC) exchange-traded fund (ETF) after deferring on a decision several times this year.According to a Wednesday filing, the SEC rejected a proposed rule change from the Cboe BZX Exchange to list and trade shares of WisdomTree’s Bitcoin Trust. Specifically, the SEC said any rule change in favor of approving the ETF would not be....