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SEC Rejects VanEck’s Spot Bitcoin Trust Application

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It is reported that the United States Securities and Exchange Commission (SEC) on March 10 ordered against a rule change that allowed the investment company Va…

SEC Rejects VanEcks Spot Bitcoin Trust Application

It is reported that the United States Securities and Exchange Commission (SEC) on March 10 ordered against a rule change that allowed the investment company VanEck to create a spot Bitcoin trust. The committee members Mark Uyeda and Hester Peirce issued a statement that the SEC has rejected all the submitted applications for BTC trust, which has reached nearly 20 in the past six years. They said that the SEC’s review of ETP applicants was “double standard”. “In our view, the standards used by the Commission for other types of commodity-based ETPs are different from those used in the past and now, so as to keep these spot Bitcoin ETPs away from the exchanges we supervise.

US SEC rejects VanEck’s spot BTC trust application

Analysis based on this information:


The United States Securities and Exchange Commission (SEC) has rejected VanEck’s application to create a spot Bitcoin trust. This ruling comes after nearly 20 applications for BTC trust were submitted over the past six years. This move has drawn criticism from committee members Mark Uyeda and Hester Peirce who believe that the SEC’s review process of exchange-traded products (ETPs) has been a “double standard.”

The SEC’s decision to reject VanEck’s application for a Bitcoin trust is not surprising as the regulator has consistently been cautious in its approach to cryptocurrencies. The SEC has cited concerns about market manipulation and investor protection as reasons for its reluctance to approve such products.

Bitcoin has been the subject of intense regulatory scrutiny and criticism due to its association with illicit activities and high levels of volatility. The SEC has taken a strict stance on Bitcoin trusts, which are designed to track the price of Bitcoin, citing concerns about the lack of oversight and transparency in the crypto market.

The rejection of VanEck’s application for a Bitcoin trust has met with criticism from committee members Mark Uyeda and Hester Peirce who believe that the SEC is using different standards to evaluate Bitcoin ETPs compared to other commodity-based ETPs. Uyeda and Peirce have called for the SEC to adopt a consistent approach to its review process and to provide clear guidance on the standards required for approval.

In conclusion, the SEC’s rejection of VanEck’s application for a Bitcoin trust highlights the regulatory risks associated with investing in cryptocurrencies. While the crypto market continues to grow and evolve, it is likely that regulatory oversight will only increase. Investors should be aware of the potential risks and should seek professional advice before investing in digital assets.

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