SEC Repeatedly Rejects Bitcoin ETF Proposals Despite Approving Thousands of Other ETFs
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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.
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Bitcoin spot ETFs differ from trusts in being redeemable for bitcoin and better tracking the spot price.
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The SEC approves ETFs and has approved thousands, making their rejection of bitcoin ETFs unusual.
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The SEC claims bitcoin is too volatile and the crypto industry too rife with fraud to approve a bitcoin ETF.
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Crypto supporters feel the lack of approval shows an anti-crypto bias among some policymakers.
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