US SEC rejects VanEck spot bitcoin ETF application for third time
FILE PHOTO: The U.S. Securities and Exchange Commission logo adorns an office door at the SEC headquarters in Washington, June 24, 2011. REUTERS/Jonathan Ernst/File Photo
NEW YORK : The U.S. Securities and Exchange Commission on Friday rejected a proposal to list and trade shares of the VanEck Bitcoin Trust, marking the third time the regulator has denied VanEck proposals for a spot bitcoin exchange-traded fund (ETF).
The SEC has rejected a raft of ETFs that proposed tracking the digital asset, including VanEck's previous applications in June last year and in November 2021, over concerns of manipulation in the underlying market.
Source: Reuters
