Bitcoin ETF Proposals Withdrawn After SEC Pushback

Bitcoin ETF Proposals Withdrawn After SEC Pushback

Several firms seeking to list exchange-traded funds (ETFs) tied to bitcoin have withdrawn their filings at the request of officials from the U.S. Securities and Exchange Commission. Direxion Shares ETF Trust , Exchange Listed Funds Trust and ProShares Trust all filed to create exchange-traded products in the past month. Yet notably, none of the proposed offerings would have held bitcoin directly – rather, their price movements would have been driven by changes in the still-nascent market for bitcoin futures. In letters dated Jan. 8 , Direxion and ELF withdrew their requests, citing feedback from the SEC. As Angela Brickl, […]