US Securities and Exchange Commission Rejects Ark Invest Spot Bitcoin (BTC) ETF Proposal Again


The U.S. Securities and Change Fee (SEC) has authorised Spot Bitcoin (Bitcoin) ETF proposed by Cathie Wooden’s ARK Make investments and world crypto ETF supplier 21Shares.

In newly issued orders, the SEC refuse A proposal to permit the ARK 21Shares Bitcoin ETF to be listed on the BZX trade of the Chicago Board Choices Change (CBOE).

ARK INVEST FIRST sought The SEC authorised a spot Bitcoin ETF in June 2021, however monetary regulators rejected the applying, citing an absence of sufficient investor safety.

The corporate made one other try to safe regulatory approval in Could 2022. Within the submitting, CBOE requested the SEC to greenlight proposed rule adjustments that pave the way in which for funding merchandise to be listed.

In a current order issued Jan. 26, the regulator stated it did not reveal that the proposal was per requirements meant to stop fraud and shield the pursuits of merchants. says.

CBOE’s argument that it has complete oversight sharing agreements with sizable regulated markets to stop fraudulent or manipulative exercise didn’t persuade the SEC.

“BZX argues that the proposed ETP, if authorised, would shield traders and the general public curiosity. These potential advantages ought to be thought-about within the broader context of

BZX has not confirmed that the proposed rule change is designed to stop fraudulent and manipulative acts and practices, so the Fee should approve the proposal.

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