SEC deems Bitcoin spot ETF filings “inadequate”.

According to the WSJthe U.S. regulator has indicated that recent requests for exchange-traded funds on Bitcoin and cash were ” not sufficiently clear and complete “.

This Friday, the Wall Street Journal reported that Securities and Exchange Commission had informed the Nasdaq and Cboe exchanges that the deposits for ETF Bitcoin spot offered by several major US asset managers, including the giant BlackRock, were ” not sufficiently clear and complete “.

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In addition to BlackRockWisdomTree, Invesco and Valkyrie have also recently filed for a financial product of this type. Thursday, Fidelityanother Wall Street titan, also tried to re-list its own.

A ETF Bitcoin Spot tracks the price of the underlying Bitcoin market and offers investors exposure without the need to hold the asset.

The SEC has so far refused all applications – about thirty – mainly because of “concerns about market manipulation”.

Following the publication of WSJon Bitcoin price fell below $30,000 before rebounding. It is currently trading at around 30 200 dollars, down 1.3% over 24 hours.

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