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US SEC rejects VanEck spot bitcoin ETF application for third time

World

11-03-2023 | 07:21

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US SEC rejects VanEck spot bitcoin ETF application for third time

The US Securities and Exchange Commission on Friday rejected a proposal to list and trade shares of the VanEck Bitcoin Trust, marking the third time the regulator has denied VanEck proposals for a spot bitcoin exchange-traded fund (ETF).

The SEC has rejected a raft of ETFs that proposed tracking the digital asset, including VanEck's previous applications in June last year and in November 2021, over concerns of manipulation in the underlying market.

REUTERS

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