Bitcoin slipped after the SEC reportedly called recent spot bitcoin ETF filings inadequate.
would have a "surveillance-sharing agreement" with or provide enough information about the arrangement, according to the report. The filings can be resubmitted.The SEC has said time and again that they can't let a bitcoin ETF go forward until one can demonstrate it will be sufficiently structured to prevent fraud and manipulation, in response to previous attempts at a successful filing. The surveillance agreement was included into satisfy that worry.
WisdomTree and Cboe did not responded to requests for comment by CNBC. Nasdaq, BlackRock's iShares and Fidelity, whichBitcoin has been trading sideways all week following adriven primarily from the wave of applications for a spot bitcoin ETF. Those filings followed one earlier in the month by BlackRock, which had injected some optimism into the market and helped push bitcoin over the $30,000 level, which it has struggled to maintain this quarter.
That newfound hope has helped sentiment in the industry, which has been under immense pressure from U.S. regulators and specifically the SEC. Bitcoin is on pace to end this week down about 2%. Nevertheless, it's up more than 11% for the month and over 80% in 2023.
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