A Bitcoin exchange-traded fund is something that the cryptocurrency community is looking forward to for quite some time. Unfortunately, the US Securities and Exchange Commission is not on the same page yet.
- The United States Securities and Exchange Commission rejected two proposals to list and trade shares of spot Bitcoin exchange-traded funds, according to Reuters.
- The first one was the NYDIG Bitcoin ETF proposal, and the second one was the Global X Bitcoin Trust.
- The move comes after the Commission had previously delayed its ruling on the NYDIG Bitcoin ETF proposal for two months.
- In any case, this is a clear sign that the SEC has no plans of listing a physical Bitcoin ETF, despite approving similar products for futures-backed exchange-traded funds.
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Source: https://cryptopotato.com/no-bitcoin-etf-yet-as-sec-rejects-nydig-and-global-x-proposals/