SEC Repeatedly Rejects Bitcoin ETF Proposals Despite Approving Thousands of Other ETFs

The process for getting a bitcoin ETF approved involves the sponsor filing a proposal with the SEC. If approved, the sponsor acquires bitcoin to form the ETF.

Bitcoin spot ETFs differ from trusts in being redeemable for bitcoin and better tracking the spot price.

The SEC approves ETFs and has approved thousands, making their rejection of bitcoin ETFs unusual.

The SEC claims bitcoin is too volatile and the crypto industry too rife with fraud to approve a bitcoin ETF.

Crypto supporters feel the lack of approval shows an anti-crypto bias among some policymakers.