March 29, 2024

SEC Rejects Bitcoin Spot ETF From WisdomTree

SEC Rejects Bitcoin Spot ETF From WisdomTree

The SEC has rejected a second spot Bitcoin ETF from asset manager WisdomTree.

The department rejected the proposalWisdomTree said that the proposed Bitcoin ETF does not provide the agency with the ability to track product information and provide oversight functions in the crypto market. 

The SEC has approved three bitcoin futures ETFs (from VanEck, Valkyrie, and ProShares) but has yet to approve a spot ETF pegged directly to the US bitcoin market value.

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