<span style="font-weight: 400">The SEC of the United States has rejected the proposal of WisdomTree Bitcoin ETF and Cboe BZX Exchange's proposed rule change.</span>
<h2><span style="font-weight: 400">Bitcoin ETF from Wisdomtree Gets Rejected by US SEC</span></h2>
<span style="font-weight: 400">The SEC <a href="https://www.sec.gov/rules/sro/cboebzx/2021/34-93700.pdf" target="_blank" rel="nofollow noopener">rejected</a> the second Bitcoin spot ETF, citing a lack of surveillance sharing agreements and the inability to prevent fraudulent or manipulative operations in the BTC spot market.</span>

<span style="font-weight: 400">The regulator's decision on WisdomTree's spot Bitcoin ETF in 2021 has already been<a href="https://www.cryptoknowmics.com/news/wisdomtree-files-with-the-sec-for-an-ethereum-etf/"> delayed multiple times</a>. The business submitted its application to the SEC for the first time on March 26. In April, the regulator said that the application would be available to the public for comment and that it would take longer to reach a judgment on the proposed rule change.</span>

<span style="font-weight: 400">The SEC rejected a requested rule modification from the Cboe BZX Exchange to enable traders to trade shares in the company's Bitcoin Trust, claiming that any rule change in favor of approving the ETF would jeopardize investor protection and the public good.</span>
<h2><span style="font-weight: 400">Commission’s Rules of Practice </span></h2>
<span style="font-weight: 400">Furthermore, the securities regulator noted that the BZX had failed to meet its obligations under the Exchange Act and the Commission's Rules of Practice. The proposed Bitcoin ETF, according to the SEC, would make it impossible for the agency to identify or get the information needed to investigate fraud and market manipulation.</span>

<span style="font-weight: 400">BZX also failed to give adequate information to address concerns about possible sources of fraud, manipulation, wash trading, and other risk factors, according to the government. In November, the SEC rejected <a href="https://www.cryptoknowmics.com/news/vanecks-bitcoin-mark-etf-shunt-strengthens-secs-outlook-on-crypto/">VanEck's Bitcoin ETF</a> for identical grounds. While there is a desire for bitcoin ETFs among digital asset investors, the regulator denied several BTC ETF applications.</span>

US SEC Rejects WisdomTree Bitcoin ETF Application, Citing Lack of Crucial Standards

The SEC of the United States has rejected the proposal of WisdomTree Bitcoin ETF and Cboe BZX Exchange's proposed rule change to list.

Gitumani is a blockchain enthusiast as she keeps a tab on the recent happenings pertaining to the crypto industry. She aims to provide quality content in blockchain and crypto domain. She is a financial content writer too and has worked on several financial projects related to the stock market news, fundamental research, and technical analysis for several websites.

US SEC Rejects WisdomTree Bitcoin ETF Application, Citing Lack of Crucial Standards

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