The SEC Still Doesn’t Like Spot Bitcoin ETFs

Posted on by American Coins & Gold

The SEC Still Doesn’t Like Spot Bitcoin ETFs
The U.S. Securities and Exchange Commission (SEC) put the kibosh on VanEck’s latest attempt to launch a spot bitcoin exchange-traded fund (ETF).You’re reading State of Crypto, a CoinDesk newsletter looking at the intersection of cryptocurrency and government. Click here to sign up for future editions.When (spot) ETF?The narrativeStaffers at the SEC shanked yet another spot bitcoin ETF application last Friday, ending VanEck’s hopes to one-up those shiny new futures ETFs with a physically backed product.Why it mattersInvestors have long seen a spot bitcoin ETF as a milestone in crypto’s breakthrough to mainstream investing. October’s rack of futures-linked ETF launches may…