U.S. SEC disapproves proposed rule to list, trade shares of VanEck bitcoin trust
Information about U.S. SEC disapproves proposed rule to list, trade shares of VanEck bitcoin trust
Kevin David Scam or Legit
By Katanga Johnson
(Reuters) -The U.S. Securities and Exchange Commission (SEC) on Friday rejected rule changes that would have allowed the listing and trading of the VanEck bitcoin exchange traded fund (ETF).
In March, the Cboe BZX Exchange Inc filed a proposed rule change to list and trade shares of the VanEck Bitcoin Trust under BZX Rule.
“The Commission applies the same standard used in its orders considering previous proposals to list bitcoin-based commodity trusts and bitcoin-based trust issued receipts — that it must be designed to prevent fraudulent and manipulative acts and practices,” the SEC said in its order.
“The Commission concludes that BZX has not met its burden.”
The move by the SEC comes after the regulator has twice …