Bitcoin Spot ETF Rejected Again! U.S. SEC Denies Applications from Valkyrie Investments and 21Shares

The U.S. Securities and Exchange Commission (SEC) has once again rejected the listing application for a spot Bitcoin ETF from Ark Invest and 21Shares, stating that they have failed to "demonstrate that their proposal meets the requirements concerning preventing fraud and other malicious activities."

The U.S. Securities and Exchange Commission (SEC) has once again rejected the listing application of Ark Invest and 21Shares' spot Bitcoin ETF, stating that they failed to "demonstrate that their proposal meets the requirements concerning the prevention of fraud and other malicious activities." Earlier reports indicated that in April last year, the SEC initially rejected Ark and 21Shares' spot Bitcoin ETF application for lack of investor protection. Subsequently, they resubmitted the application in May, with the SEC delaying the decision multiple times. This article is authorized to be reprinted from Foresight News, a Chinese content platform in the Web3 vertical sector, dedicated to creating a Chinese gateway to the Web3 world with the fundamental principles of "objectivity and neutrality." Related Review: Grayscale dead end? SEC's first legal brief not allowing Grayscale to transition to an ETF: Futures and spot are completely different commodities