We learn it at the moment in the lines of the Wall Street Journal. While Fidelity announced yesterday to follow in the footsteps of BlackRock by making a request forBitcoin Spot ETFs near Securities and Exchange Commission (SEC), we learn that the American regulator declared that the requests were not sufficiently clear and especially complete to be treated.
These are so a dozen requests for Bitcoin ETFs cash that were refused on the grounds that the deposits did not meet standards designed to prevent fraudulent and manipulative practices.
In fact, BlackRock’s request would, for example, have been rejected for having omitted to name the platform with which a shared monitoring agreement will be put in place. In short, the SEC is asking for more details. An amended application can therefore be filed this time including the necessary information.
Negative news or not, the queen of cryptocurrencies was in any case quick to react. THE BTC fell back below $30,000 reaching $29,500. There finance titans response in this case is long overdue. Case to follow on the Journal du Coin.
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