SEC rejects Vaneck Bitcoin Spot Market ETF due to price manipulation worries -

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Veröffentlicht am 12.11.2021

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On Friday, November 12th, the US stock exchange supervision SEC rejected the Bitcoin Spotmarkt Fund (ETF) from Vaneck. The US regulatory authority found that the refusal was due to the lack of prevention of "fraudulent and manipulative actions and practices". SEC rejects Spotmarkt-ETF-US supervisory authority believes that there should be more manipulation protection for investors after the approval of some Bitcoin ETFs that leverage futures markets, the SEC rejected Vaneck's Bitcoin Spotmarkt ETF on Friday. So far, the US regulatory authority has not approved Bitcoin ETFs that are bound to spot market prices. In his judgment, the SEC explains that the offers of Spotmarkt-ETFs "did not fulfill its load" when it comes to "[Protecting] ...

On Friday, November 12th, the US stock exchange supervision SEC rejected the Bitcoin Spotmarkt Fund (ETF) from Vaneck. The US regulatory authority found that the refusal was due to the lack of prevention of "fraudulent and manipulative actions and practices".

sec refuse Spotmarkt-ETF-US supervisory authority believes that there should be more manipulation protection for investors

After the approval of some Bitcoin ETFs that leverage the futures markets, the SEC rejected Vaneck's Bitcoin Spotmarkt ETF on Friday. So far, the US regulatory authority has not approved Bitcoin ETFs that are bound to spot market prices.
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" Rel = "noopener"> his judgment explains that the offers of Spotmarkt-ETFs have "not fulfilled" "[Protecting] investors and public interest." The Vaneck ETF was designed because of "the requirement that the rules of a national securities exchange are designed in such a way that they prevent fraudulent and manipulative actions and practices", rejected.

On the one hand, the standards "monitoring sharing agreements" must include, since they "offer a necessary deterrent against manipulations, since they facilitate the availability of information that is necessary in order to fully examine manipulation in the event of a complete examination," says SEC decision.

says.

The SEC also cited the rejection of the Winklevoss ETF, which the two investors tried years ago, to be approved. In most Commodity-Trust-ETPS, the fund must conclude a kind of "monitoring division agreement" or an "Intermarket Surveillance Group (" ISG ") membership", which is bound to the type of market, according to the decision of the US regulatory authority.

The judgment states that the BZX fund is of the opinion that "such manipulation worries have been sufficiently alleviated and that the growing and quantifiable investor protection concerns" [be] sufficient to justify the waiver of the required surveillance agreement. "
The SEC judgment comes to the conclusion that the central consideration for the regulatory authority is currently the "potential manipulation of Bitcoin".

What do you think that the SEC rejects Vaneck's Bitcoin Spotmarkt ETF? Let us know your opinion on this topic in the comments below.

Photo credits : Shutterstock, Pixabay, Wiki Commons, Vaneck-Logo,

SEC rejects Vaneck Bitcoin Spot Market ETF due to price manipulation worries -

sec refuse Spotmarkt-ETF-US supervisory authority believes that there should be more manipulation protection for investors

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