SEC rejects spot Bitcoin ETF applications from NYDIG and Global X.
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The US Securities and Exchange Commission (SEC) rejected applications for spot Bitcoin ETFs named NYDIG Bitcoin ETF and Global X Bitcoin Trust, according to the information in the document dated March 10.
The SEC remains wary of a spot Bitcoin ETF. As we reported earlier, the SEC does not favor an ETF directly related to Bitcoin, citing market manipulation concerns. The applications in question were the last spot Bitcoin ETF applications rejected by the SEC.
On the other hand, the SEC approved the first Bitcoin futures ETF last October. ProShares’ futures Bitcoin ETF product caused great excitement in the market and attracted great interest.
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