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Rejected: SEC shoots down spot Bitcoin ETF proposals by Valkyrie, Kryptoin
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ambcrypto.comThe greatest year for cryptocurrencies yet is coming to an end, and there seems to be no spot Bitcoin ETF in sight for American investors. The US Securities and Exchange Commission has continued its tussle with the investment product, as it disapproved the applications for two more much-awaited ETFs earlier today.
According to orders published by the financial watchdog, the physically-backed Bitcoin ETFs proposed by Valkyrie and Kryptoin were rejected on the same grounds that were cited during earlier rejections.
Significantly, the SEC noted that NYSE Arca and Cboe BZX Exchange, the exchanges which had filed to propose rule changes to list and trade Valkyrie and Kryptoin products respectively, “failed to demonstrate that their proposals are
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