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The US Securities and Exchange Commission (SEC) has announced that it has refused to approve a nine-bit coin ETF on August 22 (local time), including ProShares and Direxion Asset Management. The only bitcoin ETF that remains to be interested in the market is the ETCO, a bit coin of CBOE, the Chicago Option Exchange.
The SEC says the flaw in the NYSE Arca and Cboe BZX exchanges is the main reason for the rejection. These exchanges do not meet the SEC’s requirement to prevent fraud and price manipulation. This is the same reason as when he rejected the Winkleboss brothers’ bit coin ETF in July.
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