SEC Rejects VanEck’s Spot Bitcoin ETF Proposal

Posted on by American Coins & Gold

SEC Rejects VanEck’s Spot Bitcoin ETF Proposal
The SEC rejected investment firm VanEck’s proposal for a spot bitcoin exchange-traded fund (ETF) on Friday. The decision was widely expected as SEC chair Gary Gensler has indicated his preference for a bitcoin futures ETF over a spot bitcoin ETF several times in the past.Two bitcoin futures ETFs, the ProShares Bitcoin Strategy ETF (BITO) and the Valkyrie Bitcoin Strategy ETF (BTF), began trading last month, leading to a significant rally in the price of bitcoin. Spot Bitcoin ETF Has Been REJECTED: https://t.co/UIaDLpA4zD https://t.co/7IlmEPfHDE— Eric Balchunas (@EricBalchunas) November 12, 2021 This is a developing story and will be updated.