The SEC has yet again denied WisdomTree’s efforts for a U.S. spot Bitcoin ETF. Their ruling comes as the design of WisdomTree’s fund was found to not protect enough against “fraudulent and manipulative” practices so in the best interest of the investor the SEC declined. The final decision comes after two separate delays in March and August as well as an initial denial last December.
ETF Newz Says:
Spot Bitcoin ETFs haven’t found success in the U.S. but Canada and Australia have launched a few in Bitcoin as well as Ethereum.