Bitcoin briefly fell below $30,000 apiece after The Wall Street Journal reported that the U.S. securities regulator said recent applications for spot bitcoin exchange-traded funds are inadequate.
Crypto enthusiasts have hoped that recent proposals, including one from BlackRock, would succeed where predecessors had not. Bitcoin’s dollar value fell 5% immediately after the Journal’s report, before rebounding slightly.
Some industry watchers predicted that BlackRock’s filing would appease the Securities and Exchange Commission through an agreement to share “surveillance” of a spot bitcoin-trading platform with Nasdaq, which would list the ETF.
Source: https://www.wsj.com/livecoverage/stock-market-today-dow-jones-06-30-2023/card/bitcoin-falls-after-sec-says-spot-bitcoin-etf-filings-are-inadequate-XiKu3oem3MguTyz2JJJh?siteid=yhoof2&yptr=yahoo