LATEST NEWS: SEC Discusses Spot Bitcoin ETF Applications!

According to information from foreign sources, the SEC found recent spot Bitcoin ETF applications to be insufficient and requested reapplication!

SEC Evaluates ETF Applications

SEC
According to information from foreign sources, the U.S. Securities and Exchange Commission (SEC) made statements about recent spot Bitcoin ETFs (exchange-traded funds) and reported that the applications were insufficient.

After financial giants like BlackRock, Invesco, and Fidelity applied to offer spot Bitcoin ETFs, SEC’s statement shook the cryptocurrency market.

BlackRock and Fidelity were also mentioned in the SEC’s statement;

It was reported that the SEC found the applications insufficient because they did not provide sufficient information and were not comprehensive in terms of regulatory oversight.

With the news, the price of Bitcoin experienced a sharp drop from $31,000 levels to $29,500. This information from the SEC caused a 5% crash in Bitcoin. BTC is currently trading at $29,870.

In addition, the SEC returned these applications, stating that they were incomplete, and requested the spot Bitcoin ETF applications to be modified and resubmitted.

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Lucien Renard
Lucien Renardhttps://en.coinotag.com/
Lucien Renard is a 24-year-old writer specializing in cryptocurrency analysis and price action. With a focus on technical analysis, Lucien provides valuable insights into market trends and potential opportunities for investors.
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