US Securities and Exchange Commission (SEC) rejected WisdomTree’s application for a Bitcoin ETF.
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The SEC has announced its rejection to protect investors from “dishonest” and “manipulative” actions.
The SEC also rejected VanEck’s Bitcoin ETF proposal at the beginning of November.
According to James Seyffart of Bloomberg Intelligence, the SEC will likely reject Kryptoin’s ETF proposal before Christmas as well.
https://twitter. com/JSeyff/status/1466470956109553676
Even though the SEC has previously approved futures-based ETFs, it remains hesitant to approve an ETF that directly tracks the value of Bitcoin.