SEC Rejects Fidelity’s Wise Origin Bitcoin ETF Proposal

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The U.S. Securities and Exchange Commission (SEC) refused to approve a Fidelity spot Bitcoin ( $63,316.00 ) exchange-traded fund (ETF), adding to the list of rejected applications.

Rejection of Fidelity’s Wise Origin Bitcoin ( $63,316.00 ) Trust on Thursday comes just seven days after the SEC threw out a spot Bitcoin ( $63,316.00 ) ETF application filed by investment advisory firm First Trust and hedge fund SkyBridge Capital.
The rejection follows the precedent set by the SEC in preferring ETFs that track Bitcoin ( $63,316.00 ) futures.
In December, the regulator rejected investment firm Kryptoin’s proposal to list a spot Bitcoin ( $63,316.00 ) ETF. It has also rejected spot Bitcoin ( $63,316.00 ) ETF proposals from VanEck and WisdomTree.
In October, the first-ever ETF backed by Bitcoin ( $63,316.00 ) futures was launched by ProShares trading on the New York Stock Exchange. Other approvals include the Valkyrie Bitcoin ( $63,316.00 ) Strategy ETF and the VanEck Bitcoin ( $63,316.00 ) Strategy ETF.