Spot Bitcoin ETF filings not sufficiently clear and comprehensive, says SEC - WSJBLK +0.43% Add to/Remove from Watchlist NDAQ 0.00% Add to/Remove from Watchlist CBOE +1.66% Add to/Remove from Watchlist BTC/USD -1.04% Add to/Remove from Watchlist COIN -1.22% Add to/Remove from WatchlistAccording to The Wall Street Journal, the Securities and Exchange Commission has deemed the recent wave of applications from asset managers seeking to launch bitcoin exchange-traded funds as insufficient. According to the publication's sources, the SEC notified Nasdaq (NASDAQ: ) and Cboe Global Markets (NYSE: ), who submitted applications for asset managers, including BlackRock (NYSE: ) and Fidelity Investments, that the filings were inadequate in terms of clarity and completeness. Crypto prices have surged since June after BlackRock submitted paperwork with the SEC for an ETF that holds actual . Several asset managers, both traditional and crypto, have taken cues from BlackRock and have either reactivated or amended their applications for a spot Bitcoin ETF. The asset managers are able to update the language and refile.

Source: Wall Street Journal June 30, 2023 14:53 UTC