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Similar to its December 2021 rejection of a WisdomTree spot Bitcoin investment vehicle, the SEC cited concerns about fraud and market manipulation.
The United States Securities and Exchange Commission, or SEC, has disapproved of a rule change that would allow exchange-traded fund (ETF)provider WisdomTree to list and trade shares of a Bitcoin ETF.
According to an Oct. 11 filing, the SEC rejected a proposed rule change that would have allowed WisdomTree to list and trade shares of its Bitcoin BTC Trust on the Cboe BZX Exchange after several delays due to extensions and comment periods. WisdomTree first filed the spot Bitcoin ETF application on Jan. 25 with publication in the federal register on Feb. 14.
The SEC said any rule change in favor of approving the ETF would not be “‘designed to prevent fraudulent and manipulative acts and practices” nor “protect investors and the public interest.” Will Peck, WisdomTr
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