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SEC Rejects Vaneck Bitcoin Spot Market ETF Over Price Manipulation Concerns – Bitcoin News

Jamie Redman by Jamie Redman
November 12, 2021
Reading Time: 3 mins read
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SEC Rejects Vaneck Bitcoin Spot Market ETF Over Price Manipulation Concerns – Bitcoin News


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SEC Rejects Vaneck Bitcoin Spot Market ETF Over Price Manipulation Concerns

On Friday, November 12, the U.S. Securities and Exchange Commission (SEC) turned down Vaneck’s bitcoin area market exchange-traded fund (ETF). The U.S. regulator kept in mind that the rejection was because of the absence of avoidance towards “fraudulent and manipulative acts and practices.”

SEC Turns Down Spot Market ETF – United States Regulator Believes There Should be More Manipulation Protection for Investors

  • Following the approval of a couple of bitcoin ETFs that take advantage of future markets, the SEC has actually turned down Vaneck’s bitcoin area market ETF on Friday. So far, the U.S. regulator has actually not authorized any bitcoin ETFs that are connected to identify market value.
  • In its ruling, the SEC describes area market ETF offerings have not “met its burden” when it pertains to “[protecting] investors and the public interest.” The Vaneck ETF was refused over “the requirement that the rules of a national securities exchange be “designed to prevent fraudulent and manipulative acts and practices.”
  • For one, requirements require to consist of “surveillance-sharing agreements,” as they “provide a necessary deterrent to manipulation because they facilitate the availability of information needed to fully investigate a manipulation if it were to occur,” the SEC judgment information.
  • The SEC likewise pointed out the rejection of the Winklevoss ETF the 2 financiers attempted to get authorized years back. In the case of the majority of commodity-trust ETPs, the fund needs to participate in some sort of “surveillance-sharing agreements” or “Intermarket Surveillance Group (“ISG”) subscription” connected to the kind of market, the U.S. regulator’s judgment describes.
  • The judgment information that the fund BZX thinks “such manipulation concerns have been sufficiently mitigated, and that the growing and quantifiable investor protection concerns should [be] sufficient to justify dispensing with the requisite surveillance-sharing agreement.”
  • The SEC judgment concludes that the main factor to consider today for the regulator is the “potential manipulation of bitcoin.”

What do you consider the SEC rejecting Vaneck’s bitcoin area market ETF? Let us understand what you consider this topic in the remarks area listed below.

Tags in this story
Bitcoin, bitcoin etf, bitcoin exchange traded fund, bitcoin area market, BTC, BTC ETF, Futures, Futures ETF, Reject, rejection, SEC, SEC rejection, area market, us regulator, vaneck, Vaneck ETF

Image Credits: Shutterstock, Pixabay, Wiki Commons, Vaneck logo design,

Disclaimer: This short article is for informative functions just. It is not a direct deal or solicitation of a deal to purchase or offer, or a suggestion or recommendation of any items, services, or business. Bitcoin.com does not supply financial investment, tax, legal, or accounting guidance. Neither the business nor the author is accountable, straight or indirectly, for any damage or loss triggered or declared to be brought on by or in connection with making use of or dependence on any material, products or services pointed out in this short article.





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