The United States Securities and Exchange Commission, or SEC, has officially disapproved of the place of asset manager WisdomTree (BTC) Exchange Traded Fund (ETF) after postponing a decision several times this year.
According to a document filed Wednesday, the SEC rejected a proposed rule change for the Cboe BZX Exchange for listing and trading WisdomTree Bitcoin Trust stocks. Specifically, the SEC said any rule change in favor of ETF approval would not be “designed to prevent fraudulent and manipulative acts and practices” or “to protect investors and the public interest.”
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