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Blog

No Bitcoin ETF Yet as SEC Rejects NYDIG and Global X Proposals

A Bitcoin exchange-traded fund is something that the cryptocurrency community is looking forward to for quite some time. Unfortunately, the US Securities and Exchange Commission is not on the same page yet.

  • The United States Securities and Exchange Commission rejected two proposals to list and trade shares of spot Bitcoin exchange-traded funds, according to Reuters. 
  • The first one was the NYDIG Bitcoin ETF proposal, and the second one was the Global X Bitcoin Trust.
  • The move comes after the Commission had previously delayed its ruling on the NYDIG Bitcoin ETF proposal for two months.
  • In any case, this is a clear sign that the SEC has no plans of listing a physical Bitcoin ETF, despite approving similar products for futures-backed exchange-traded funds.
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