SEC Rejects WisdomTree’s Spot Bitcoin ETF Application

Posted on by American Coins & Gold

SEC Rejects WisdomTree’s Spot Bitcoin ETF Application
The U.S. Securities and Exchange Commission (SEC) has denied WisdomTree’s application for a spot bitcoin exchange-traded fund (ETF), the agency said in a letter on Wednesday.Approval would have allowed retail and institutional investors to invest in a regulated financial product incorporating the world’s oldest cryptocurrency, without requiring them to invest in the crypto directly.The decision comes seven months after the regulator said it would start evaluating the WisdomTree Bitcoin Trust, which the ETF giant filed with the Cboe BZX exchange in March. The agency delayed its decision in June and again in July, as well as its consideration of other…