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SEC Rejects Nine Bitcoin (BTC) ETF Proposals

The US Securities and Exchange Commission (SEC) has rejected nine applications for Bitcoin ETF proposals. The SEC published three separate orders yesterday, highlighting the rejections from the three different applicants. SEC Says No to Bitcoin ETF Proposals This ruling is a blow to Bitcoin bulls who’d hoped the products would have provided a breakthrough for institutional adoption. Last night, the SEC published its rejection of two proposals from ProShares, two from GraniteShares, and five other products from Direxion. The rejections come just one day ahead of the deadline stipulated for a pair of Bitcoin ETFs submitted by ProShares. Proshares was working with the New York Stock Exchange (NYSE) ETF…

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