Miracle did not happen: SEC rejected 9 applications for bitcoin-ETF

Almost a month all the crypto community was in a tense wait for theresults from SEC`s consideration over two bitcoins-ETF from ProShares. The company made an application under the protection of the well-known...

Almost a month all the crypto community was in a tense wait for theresults from SEC`s consideration over two bitcoins-ETF from ProShares. The company made an application under the protection of the well-known stock exchange NYSE Arca. But the US Securities Commission decided that these innovations on the exchange can not be approved. In addition to these two ETFs, the SEC also rejected 7 applications from different companies.

The SEC explains the refusal by the fact that the organizations could not guarantee the implementation of US legislation on countering money laundering,fraudulent actions and speculation. Also, the SEC said that the applicants did not provide guarantee that "BTC futures markets are of sufficient volume to create an ETF."

Thus, SEC still hadn't approved any application for Bitcoin-ETF. However, enthusiasts do not despair and are waiting for the next decisions, scheduled for 7, 21 and 30 September.