{"id":415028,"date":"2022-03-11T19:04:34","date_gmt":"2022-03-11T16:04:34","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/sec-rejects-spot-bitcoin-etf-applications-from-nydig-and-global-x\/"},"modified":"2022-03-11T19:04:34","modified_gmt":"2022-03-11T16:04:34","slug":"sec-rejects-spot-bitcoin-etf-applications-from-nydig-and-global-x","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/sec-rejects-spot-bitcoin-etf-applications-from-nydig-and-global-x\/","title":{"rendered":"# SEC rejects spot Bitcoin ETF applications from NYDIG and Global X"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2fc1b31a68b\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2fc1b31a68b\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/sec-rejects-spot-bitcoin-etf-applications-from-nydig-and-global-x\/#%E2%80%9D_SEC_rejects_spot_Bitcoin_ETF_applications_from_NYDIG_and_Global_X_%E2%80%9C\" >&#8221; SEC rejects spot Bitcoin ETF applications from NYDIG and Global X &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_SEC_rejects_spot_Bitcoin_ETF_applications_from_NYDIG_and_Global_X_%E2%80%9C\"><\/span>&#8221; SEC rejects spot Bitcoin ETF applications from NYDIG and Global X &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDMvZTgzNGI1MjktNDNjZS00YWI2LWIyNjYtZWUxNzBhZGE4MzU1LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-128018ef>The United States Securities and Exchange Commission, or SEC, has dis<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roved spot Bitcoin exchange-traded fund applications from the New York Digital Investment Group and fund manager Global X after deferring on a decision several times in the last year.<\/p>\n<p>According to two separate Thursday filings, the SEC <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.sec.gov\/rules\/sro\/nysearca\/2022\/34-94395.pdf\">rejected<\/a> proposed rule changes from the Cboe BZX Exchange and New York Stock Exchange\u2019s Arca to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.sec.gov\/rules\/sro\/cboebzx\/2022\/34-94396.pdf\">list<\/a> and trade shares of the Global X Bitcoin Trust and New York Digital Investment Group\u2019s Bitcoin exchange-traded fund, or ETF, respectively. The SEC said that NYSE Arca and Cboe BZX had not met the burden under the Exchange Act and the SEC\u2019s Rules of Practice of showing the ETF would be \u201cdesigned to prevent fraudulent and manipulative acts and practices\u201d and \u201cprotect investors and the public interest.\u201d<\/p>\n<p>The New York Digital Investment Group, or NYDIG, and Global X filed applications with the SEC for spot Bitcoin (BTC) ETFs in June and August 2021, respectively, but the commission designated longer periods of time to approve or disapprove the proposed rule change and opened the applications for public comment several times before reaching a decision on Thursday. The rejections followed similar decisions for spot BTC ETF applications from WisdomTree and VanEck.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">The SEC denied NYDIG\u2019s Bitcoin Spot ETF proposal this morning.<\/p>\n<p>\u2014 Pomp  (@APompliano) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/APompliano\/status\/1502286645957124100?ref_src=twsrc%5Etfw\">March 11, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\nThough the U.S. regulator has yet to approve any spot Bitcoin ETF application from financial institutions, investment vehicles linked to Bitcoin futures have had more success. Many companies filed applications for BTC \u201cstrategy\u201d ETFs following SEC chair Gary Gensler saying in August 2021 he would be more open to accepting exchange-traded funds based on crypto futures rather than through direct exposure. The commission has since approved ETFs linked to BTC futures from Valkyrie, ProShares and VanEck.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>SEC chair hints at no spot Bitcoin ETFs yet, but cites &#8216;careful consideration&#8217; for future<\/em><\/strong><\/p>\n<p>As crypto ETF applications from other firms are still in the pipeline, at least one company is taking more of an initiative to seemingly put pressure on regulators. Following the SEC delaying its ruling on whether to approve Grayscale converting its Bitcoin Trust into a spot BTC ETF, the asset manager launched a campaign calling on U.S. investors to submit comments to the SEC. The regulator is expected to reach a decision on the ETF by July 6.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/p>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/sec-rejects-spot-bitcoin-etf-applications-from-nydig-and-global-x\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; SEC rejects spot Bitcoin ETF applications from NYDIG and Global X &#8220; The United States Securities and Exchange Commission, or SEC, has disapproved spot Bitcoin exchange-traded fund applications from the New York Digital Investment Group and fund manager Global X after deferring on a decision several times in the last year. According to two&#8230;<\/p>\n","protected":false},"author":1,"featured_media":415029,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDMvZTgzNGI1MjktNDNjZS00YWI2LWIyNjYtZWUxNzBhZGE4MzU1LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[75849,74898,73711,70934,67874],"class_list":["post-415028","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-etf","tag-sec","tag-investments","tag-regulation","tag-united-states"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/415028","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=415028"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/415028\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/415029"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=415028"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=415028"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=415028"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}