SEC rejects VanEck’s application to launch a spot Bitcoin ETF

The U.S. Securities and Exchange Commission (SEC) rejected VanEck’s asset-management firm’s application to launch an exchange-traded fund (ETF) based on Bitcoin.

\n\n

On March 2, the Chicago Board Options Exchange filed an application for listing a Bitcoin ETF on behalf of VanEck. On March 18, the SEC began reviewing it, but postponed the decision twice—in April and June. The regulator required additional public comments “in light of legal and political considerations”.

\n\n

In September, the SEC again extended the review of VanEck’s application, “to have enough time to consider the proposed changes and the questions raised in the comment letters.”

\n\n

In October, the Commission approved applications to launch futures-based Bitcoin ETFs from VanEck and Valkyrie Investments. Prior to that, the SEC had taken a similar decision regarding ProShares’ application.

\n\n

Subscribe to ForkLog’s news on Telegram: ForkLog Feed — the full news feed, ForkLog — the most important news, infographics and opinions.