21Shares submitted the spot Bitcoin ETF application with Ark Investment Management in June 2021 for listing on the Cboe BZX Exchange.
The United States Securities and Exchange Commission, or SEC, has officially disapproved the application for the ARK 21Shares Bitcoin exchange-traded fund (ETF).In a Thursday filing, the SEC rejected a proposed rule change from the Chicago Board Options Exchange, or Cboe, BZX Exchange to list and trade shares of the ARK 21Shares Bitcoin (BTC) ETF. The SEC said the proposed rule change, originally published for comment in the Federal Register in August 2021, would not be “‘designed to prevent fraudulent and manipulative acts and practices” nor “protect investors and the public interest.”The SEC said that the Cboe BZX Exchange had not met the requirements of listing a financial product under its rules of practice as well as those of the Exchange Act. Under these restrictions, exchanges
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