- The regulator wrapped all appeals, including the one from BlackRock
- The SEC said the bids did not meet transparency requirements
- The bitcoin rate dropped momentarily to $29,000
The SEC today, June 30, wrapped bids for spot bitcoin ETFs on Nasdaq and Cboe. The regulator’s rejection was prompted by a lack of information regarding the information sharing agreement (SSA).
This was reported by the WSJ, citing its source.. The SEC denied all of the applications, saying they lacked transparency and completeness, according to the resource.
This not only applies to WisdomTree, Invesco, Fidelity and others, but also the BlackRock fund and Ark Invest.. Recall that the last two companies specifically included a reciprocal information sharing (SSA) clause.
And Ark Invest did it after the fact, hoping to get ahead of the competition. A Cboe spokesman told the WSJ that the exchange intends to resubmit the paper after the correction is made.
Nasdaq and the SEC declined to clarify the situation.. In the background of this news bitcoin rate fell in the moment by more than 3%. At the time of this writing, the asset is trading at $30,054.9. The “drawdown” is clearly visible on the chart: