U.S. SEC rejects Valkyrie, Kryptoin bitcoin trusts

U.S. SEC rejects Valkyrie, Kryptoin bitcoin trusts

U.S. SEC rejects Valkyrie, Kryptoin bitcoin trusts

Information about U.S. SEC rejects Valkyrie, Kryptoin bitcoin trusts

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By Hannah Lang and Katanga Johnson
(Reuters) – The U.S. Securities and Exchange Commission vetoed two proposals to offer bitcoin exchange-traded funds, dealing a blow to market participants who had hoped the agency would green light the effort after approving futures-backed bitcoin funds in October.
In a notice dated Wednesday, the markets regulator said both of the proposals to list and trade shares of Valkyrie Bitcoin Fund and the Kryptoin Bitcoin ETF Trust failed to be approved because they did not meet its standard.
“(These proposals) do not meet the standard of being designed to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest,” the SEC said.
The SEC in October approved two bitcoin futures-based funds, the ProShares Bitcoin Strategy ETF and the …

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