SEC Rejected Joint Effort by Ark Invest and 21Shares to List Spot Bitcoin ETF

The SEC said the Cboe BZX Exchange (on which the ETF would be listed) had failed to demonstrate that its proposal is consistent with the requirements surrounding prevention of fraud and other malevolent practices.

The SEC has rejected a score of applications for an ETF investing directly in Bitcoin, but has approved a number of funds tracking the Bitcoin futures market.

Previously, Ark Invest and 21Shares to list a spot Bitcoin ETF in the U.S. was rejected in April.