The Securities and Exchange Commission said a recent wave of applications filed by asset managers to launch spot bitcoin exchange-traded funds are inadequate, according to people familiar with the matter.
The agency informed exchanges Nasdaq and Cboe Global Markets, which filed the applications on behalf of asset managers including BlackRock and Fidelity Investments, that the filings aren’t sufficiently clear and comprehensive, the people said.
Source: SEC Says Spot Bitcoin ETF Filings Are Inadequate – WSJ
