The SEC has "denied" spot Bitcoin ETF applications from several companies, including BlackRock. However, the SEC did not completely deny the applications, and instead said that the companies need to provide more information about how they will manage a "surveillance-sharing agreement."
A surveillance-sharing agreement is an agreement between an ETF issuer and a cryptocurrency exchange that allows for information sharing about market trading activity, clearing activity, and customer identity. The SEC has said that these agreements are necessary to ensure that spot Bitcoin ETFs are not susceptible to market manipulation.
The SEC's decision to deny spot Bitcoin ETFs is a blow to the crypto industry, but it is not the end of the road.
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25 окт 2024
