The SEC doubled down on its decision to reject Grayscale's intentions to launch a spot bitcoin ETF saying such products are prone to fraud.
Grayscale’s proposal to convert its Bitcoin Trust into an ETF was rejected by the SEC in June.on an "arbitrary and capricious" basis.Other bitcoin futures ETFs on the market include the $20mn Valkyrie Bitcoin Strategy ETF and the $21mn VanEck Bitcoin Strategy ETF.
The seal of the U.S. Securities and Exchange Commission hangs on the wall at SEC headquarters in Washington. The SEC has rejected applications for bitcoin ETFs from a raft of companies, including WisdomTree, Fidelity and VanEck.
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