Good day everyone,

I hope you are all well and having an excellent day, welcome to CryptoGod-1’s blog on all things crypto. Today I will be looking at the recent failings in applications to get Bitcoin ETF's filed, as the SEC claims there were inequities in the filings. 

Bitcoin ETF Applications

Much has been made over applications for a Bitcoin ETF, but many might be questioning what exactly an ETF is. An ETF stand for an exchange-traded fund and it is a type of pool investment security which works similar to a mutual fund. They generally track a particular index, sector, commodity, or other asset, and in this case it would be Bitcoin. The ETF can be purchased or sold on an exchange similar to any stock, or in this case any cryptocurrency. It can be structured to follow the price of an individual commodity to a large and diverse collection of securities.

In terms of a Bitcoin ETF, it has long since been mooted but never quite come to realisation. The latest attempts have seen the US Securities and Exchange Commission (SEC) raise questions around the recent applications for spot bitcoin ETF's. The agency has stated that the applications which were submitted by asset managers like BlackRock and Fidelity via exchanges such as Nasdaq and CBOE Global Markets were lacking in clarity and completeness. The exchanges Nasdaq and CBOE were informed of these issues, although no official statement was made by any of the parties involved.

In the past the SEC has also been know to query spot bitcoin ETF applications. In January 2022 an application by Fidelity for a Bitcoin spot ETF was also rejected, as the SEC feels many of these applications have failed to meet regulatory standards aimed at preventing fraud and manipulation, and ensuring investor protection and public interest.

Have a great day.

Peace. CryptoGod-1.

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