The Securities and Exchange Commission said a recent wave of applications filed by asset managers to launch spot bitcoin exchange-traded funds were not sufficiently clear and comprehensive, the Wall Street Journal reported on Friday.
The SEC declined to comment on the report, while Cboe and Nasdaq were not immediately available.of spot bitcoin ETF applications in the past few years, including one from Fidelity in January 2022.
In all the cases, the regulator said the filings did not meet the standards designed to prevent fraudulent and manipulative practices and protect investors and the public interest. The WSJ report on Friday dragged shares of cryptocurrency and blockchain-related stocks lower. Coinbase
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