The SEC Rejected VanEck’s Spot Bitcoin ETF Application Citing Investor Protection

VanEck’s proposal to create a spot Bitcoin ETF was rejected by the United States Securities and Exchange Commission. After several delays, the agency has finally rejected VanEck’s proposal for a spot Bitcoin ETF.

VanEck, a global investment manager, has been one of the most active when it comes to filing with SEC to launch Bitcoin ETFs. VanEck’s spot Bitcoin ETF request was rejected by the SEC on Friday. The agency prohibited CBOE BZX Exchange to list its shares.

“This order disapproves of the proposed rule modification. “The Commission concludes that BZX does not have the Exchange Act burden.” – the document.

The SEC also stated that VanEck and BZX were unable address prior hurdles. These were designed to protect investors and the public interests and prevent fraud and manipulation acts and practices. The most attractive option for investors today is the physical Bitcoin ETF.

Gabor Gurbacs (@gaborgurbacs), November 12, 2021

Read More

2021's Most Anticipated Growth & Wealth-Building Opportunity

Join Thousands of Early Adopters Just Like You Who Want to Grow Capital and Truly Understand Cryptocurrency Together

Marla Brooks

Marla Brooks – Financial Analysis My name is Marla Brooks, and I am the mainstream behind the”observednews.com”  for the powerful and most delicate insights into the latest activities in the financial analysis category. I started my journey as an independent financial consultant. I had approximately nine years of experience in this field. I am free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities.

2021's Most Anticipated Growth & Wealth-Building Opportunity

Join Thousands of Early Adopters Just Like You Who Want to Grow Capital and Truly Understand Cryptocurrency Together

Close Bitnami banner
Bitnami