Ah man, another BTC ETF denied. This time, it's 21Shares left going back to the drawing board.
) ETF. The SEC said the proposed rule change, originally published for comment in the Federal Register in August 2021, would not be “‘designed to prevent fraudulent and manipulative acts and practices” nor “protect investors and the public interest.”
The SEC said that the Cboe BZX Exchange had not met the requirements of listing a financial product under its rules of practice as well as those of the Exchange Act. Under these restrictions, exchanges seeking to list a Bitcoin ETF need to have “a comprehensive surveillance-sharing agreement with a regulated market of significant size related to the underlying or reference Bitcoin assets.”
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