Crypto ETF Wont Be Approved Any Time Soon According to SEC Commissioner 696x449 1 vTTiHw

SEC Disapproves VanEck Bitcoin ETF, But Here’s What Crypto Enthusiasts Can Take From The Rejection

The Securities and Exchange Commission, SEC had until Nov. 14 to make a decision regarding whether to approve the VanEck Bitcoin ETF — the first exchange-traded fund in a long list of many “spot” bitcoin ETFs on the application desk of the regulator, or not. But finally, the SEC has disapproved of it, citing that the Bitcoin spot market is prone to “fraud and manipulation”.
SEC Rejects VanEck’s Spot-based Bitcoin ETF
According to a Friday filing, the SEC rejected a proposal for a rule change from the Cboe BZX Exchange, that will allow it to list and trade shares of VanEck’s Bitcoin (BTC) Trust. Without mincing words, the SEC stated that such a rule change in favor of approving the ETF, would be at the detriment of investors and public interest, not minding how such a rule would favor fraudulent and manipulative acts and practices.
Interestingly, this rejection was very much expected in the crypto community based on two recent happenings;
Firstly, SEC Chair Gary Gensler, h

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