back in May 2022, the Cboe BZX Equities Exchange argued that it has a “comprehensive surveillance-sharing agreement with a regulated market of significant size” that can prevent manipulation of prices. The ARK 21Shares Bitcoin ETF should therefore be allowed to be listed on the exchange. According to the application, this surveillance sharing agreement is with the Chicago Mercantile Exchange , where Bitcoin futures contracts are traded.
The application also argued that most currency and commodity spot markets are unregulated, but this does not usually mean that an application will be rejected for that reason alone.In its response, the SEC rejected these arguments. It stated that the surveillance sharing agreement between Cboe BZX Equities Exchange and the CME does not apply to spot Bitcoin, since only Bitcoin futures contracts are traded at CME.
The SEC also claimed that having a surveillance sharing agreement is not always necessary, but if such an agreement does not exist, then the exchange must “establish that other means to prevent fraudulent and manipulative acts and practices will be sufficient.” It said that the exchange has not demonstrated this point, so it is not allowing the ETF to be listed.
The SEC has so far not approved any spot Bitcoin ETF to be listed on an exchange. Grayscale Investment Trust is seeking to convert its Bitcoin Trust into a spot Bitcoin ETF, and it has sued the SEC for rejecting its proposal. Oral arguments are
BTC Network Donations 1KGxWUnYXsvfjMoZSc7nABywpQkYZyhuez Never give up guys! You never know what happens.
No, it's a ponzi
It won’t happen until crypto is regulated - I’m a former SEC enforcement paralegal and this regulation of bitcoin has been going on since 2018 at least. It’s about time too after so many frauded by bad players - people claiming to provide investment services who aren’t licensed.
Everything as usual, SEC just want special approve from gov to allow it. Or from bankers.
I will rather buy real bitcoin on exchanges/wallets
Never, as long as tether still in the business. Tether always mentioned as one reason to reject
In the absence of market manipulation and volatility control measures
Bitcoin will fly with or without sec
When we have laws about crypto then it will be accepted
Cry-baby Cathie (Wood) will write a letter , as she did to the Fed about interest rates [well, b/c $ARKK price lost 70-80%, b/c Miss (hot) Interest Rates arrived in town, cathie in denial]
They want it dead
not as long as ratface is manning the fort.
GaryGensler knows a lot about fraud. 😂😂. SBF_FTX 👀
SuperSaiyanERC Community has burned over 17ETH worth of tokens, voluntarily! Check out the project some are calling the next SAITAMA Currently hanging out by SpaceX ! SUPERSAIYAN $SS
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