SEC continues to be approved against the admission of Spot-Bitcoin ETFs, while Leveraged ETFs are approved: The discrepancy is discussed

SEC continues to be approved against the admission of Spot-Bitcoin ETFs, while Leveraged ETFs are approved: The discrepancy is discussed

The SEC remains hard with the rejection of Spot-Bitcoin ETFs, while at the same time the approval of Leveraged Bitcoin Futures ETFs takes place. This mismatch was highlighted in a letter from our lawyers to the DC Circuit.

The letter emphasized that the only solution for the unequal treatment of Bitcoin-based ETPs is to enable the proposed spot bitcoin ETPs, such as that of Grayscale.

It is worth noting that several companies, including Blackrock and ARK Investment Management, submitted applications for spot crypto ETFs. However, these applications were not called "clear enough and comprehensive" by SEC officials.

Due to this rejection, some companies have decided to submit their applications again and to include the Coinbase crypto exchange as a surveillance partner.

It becomes clear that the approval of spot bitcoin ETFs is of crucial importance in order to eliminate the unequal treatment of Bitcoin-based ETPs.

Source: SEC describes ETF registrations as inadequate, Binance loses euro partners and other news: Hodler’s Digest, June 25th-July 1