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SEC rejects VanEck’s spot Bitcoin ETF as BTC price falls below $63K By Cointelegraph

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© Reuters.

America Securities and Change Fee, or SEC, has formally disapproved asset supervisor VanEck’s spot exchange-traded fund months after the agency submitted its software.

In line with a Friday submitting, the SEC rejected a proposed rule change from the Cboe BZX Change to listing and commerce shares of VanEck’s Bitcoin (BTC) Belief. Particularly, the SEC stated any rule change in favor of approving the ETF wouldn’t be “‘designed to stop fraudulent and manipulative acts and practices” nor “shield traders and the general public curiosity.”