SEC Rejects NYDIG, Global X Spot Bitcoin ETF Applications

2 years ago

The U.S. Securities Exchange Commission (SEC) has denied NYDIG and Global X’s applications to database spot bitcoin exchange-traded-funds (ETFs), according to abstracted filings dated March 10.

  • The SEC had extended its reappraisal period to person and reappraisal comments connected NYDIG’s spot ETF product, and present concluded it didn’t conscionable capable criteria, citing concerns astir fraud, manipulation and valuation methodology.

  • SEC Chair Gary Gensler has indicated aggregate times that helium prefers to spot a bitcoin futures ETF implicit 1 that holds bitcoin directly.

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Michael Bellusci is CoinDesk's crypto payments reporter.


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