SEC rejects latest Bitcoin ETF proposal

posted 2 months ago
The US SEC rejected the latest attempt at creating a Bitcoin ETF. The ETF proposal filed by Bitwise Asset Management in conjunction with NYSE Arca "did not meet legal requirements to prevent market manipulation or other illicit activities." The SEC placed the burden on NYSE Arca, rather than Bitwise’s proposal itself.

To date, the SEC has rejected all Bitcoin ETF proposals, citing market manipulation and fraudulent activity concerns. With Wednesday’s rejection, the SEC only has one Bitcoin ETF proposal currently sitting before it, filed by Wilshire Phoenix and NYSE Arca.
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