The Securities and Exchange Commission (SEC) rejected the VanEck spot Bitcoin ETF (VanEck Bitcoin Trust) as the company failed to show it is consistent with rules:
CONCLUSION
For the reasons set forth above, the Commission does not find, pursuant to Section
19(b)(2) of the Exchange Act, that the proposed rule change is consistent with the requirements
of the Exchange Act and the rules and regulations thereunder applicable to a national securities
exchange, and in particular, with Section 6(b)(5) of the Exchange Act.
IT IS THEREFORE ORDERED, pursuant to Section 19(b)(2) of the Exchange Act, that
proposed rule change SR-CboeBZX-2021-019 be, and hereby is, disapproved.
For the Commission, by the Division of Trading and Markets, pursuant to delegated
authority
