Would You like a feature Interview?
All Interviews are 100% FREE of Charge
The U.S. Securities and Exchange Commission (SEC) has expressed concern over the recent filing of a spot Bitcoin Exchange Traded Fund (ETF).
The agency found that applications submitted by asset managers such as BlackRock and Fidelity through exchanges Nasdaq and CBOE Global Markets lacked clarity and completeness.
The SEC has notified the Nasdaq and CBOE of these deficiencies, but no official comment has been received from the parties.
ETFs stumble again
This is not the first time the SEC has inquired about a spot Bitcoin ETF application.
Over the past few years, many similar applications have been rejected for failing to meet regulatory standards aimed at preventing fraud and manipulation, protecting investors and ensuring the public interest. Fidelity’s application was also rejected in January 2022.
of Wall Street Journal report The development has had a negative impact on cryptocurrency and blockchain stocks.
Companies like Coinbase, Riot Platforms and Marathon Digital saw their stocks fall about 3% to 3.7% during the morning’s trading.