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HomeBusinessSEC rejects WisdomTree's application for spot Bitcoin ETF By Cointelegraph

SEC rejects WisdomTree’s application for spot Bitcoin ETF By Cointelegraph

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© Reuters.

The United States Securities and Exchange Commission, or SEC, has officially disapproved asset manager WisdomTree’s spot (BTC) exchange-traded fund (ETF) after deferring on a decision several times this year.

According to a Wednesday filing, the SEC rejected a proposed rule change from the Cboe BZX Exchange to list and trade shares of WisdomTree’s Bitcoin Trust. Specifically, the SEC said any rule change in favor of approving the ETF would not be “‘designed to prevent fraudulent and manipulative acts and practices” nor “protect investors and the public interest.”