{"id":14243,"date":"2021-11-12T20:54:02","date_gmt":"2021-11-12T20:54:02","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/sec-rejects-vaneck-bitcoin-spot-market-etf-over-price-manipulation-concerns\/"},"modified":"2021-11-12T20:54:02","modified_gmt":"2021-11-12T20:54:02","slug":"sec-rejects-vaneck-bitcoin-spot-market-etf-over-price-manipulation-concerns","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/sec-rejects-vaneck-bitcoin-spot-market-etf-over-price-manipulation-concerns\/","title":{"rendered":"SEC Rejects Vaneck Bitcoin Spot Market ETF Over Price Manipulation Concerns"},"content":{"rendered":"<p><strong>On Friday, November 12, the U.S. Securities and Exchange Commission (SEC) rejected Vaneck\u2019s bitcoin spot market exchange-traded fund (ETF). The U.S. regulator noted that the denial was due to the lack of prevention toward \u201cfraudulent and manipulative acts and practices.\u201d<\/strong><\/p>\n<h2>SEC Turns Down Spot Market ETF \u2013 US Regulator Believes There Should be More Manipulation Protection for Investors<\/h2>\n<p>Following the approval of a few bitcoin ETFs that leverage future markets, the SEC has rejected Vaneck\u2019s bitcoin spot market ETF on Friday. So far, the U.S. regulator has not approved any bitcoin ETFs that are tethered to spot market prices.<br \/>\nIn <a href=\"https:\/\/www.sec.gov\/rules\/sro\/cboebzx\/2021\/34-93559.pdf\">its ruling<\/a>, the SEC explains spot market ETF offerings have not \u201cmet its burden\u201d when it comes to \u201c[protecting] investors and the public interest.\u201d The Vaneck ETF was turned down over \u201cthe requirement that the rules of a national securities exchange be \u201cdesigned to prevent fraudulent and manipulative acts and practices.\u201d<br \/>\nFor one, standards need to include \u201csurveillance-sharing agreements,\u201d as they \u201cprovide a necessary deterrent to manipulation because they facilitate the availability of information needed to fully investigate a manipulation if it were to occur,\u201d the SEC ruling details.<br \/>\nThe SEC also cited the denial of the Winklevoss ETF the two investors tried to get approved years ago. In the case of most commodity-trust ETPs, the fund must enter into some kind of \u201csurveillance-sharing agreements\u201d or \u201cIntermarket Surveillance Group (\u201cISG\u201d) membership\u201d tied to the type of market, the U.S. regulator\u2019s ruling explains.<\/p>\n<p>The ruling details that the fund BZX believes \u201csuch manipulation concerns have been sufficiently mitigated, and that the growing and quantifiable investor protection concerns should [be] sufficient to justify dispensing with the requisite surveillance-sharing agreement.\u201d<br \/>\nThe SEC ruling concludes that the central consideration right now for the regulator is the \u201cpotential manipulation of bitcoin.\u201d<\/p>\n<p><em><strong>What do you think about the SEC denying Vaneck\u2019s bitcoin spot market ETF? Let us know what you think about this subject in the comments section below.<\/strong><\/em><\/p>\n<p>Bitcoin News<br \/>\nNews, Bitcoin, bitcoin etf, bitcoin exchange traded fund, bitcoin spot market, BTC, BTC ETF, Futures, Futures ETF, Reject, rejection, SEC, SEC rejection, spot market, us regulator, vaneck, Vaneck ETF<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On Friday, November 12, the U.S. Securities and Exchange Commission (SEC) rejected Vaneck\u2019s bitcoin spot market exchange-traded fund (ETF). The U.S. regulator noted that the denial was due to the lack of prevention toward \u201cfraudulent and manipulative acts and practices.\u201d SEC Turns Down Spot Market ETF \u2013 US Regulator Believes There Should be More Manipulation&hellip;<\/p>\n","protected":false},"author":0,"featured_media":14244,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-14243","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/14243"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=14243"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/14243\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/14244"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=14243"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=14243"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=14243"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}