FYI: Late Wednesday night, the Securities and Exchange Commission officially rejected proposals for bitcoin ETFs from three different issuers, leaving the way ahead for a futures-based cryptocurrency ETF unclear.
Direxion had proposed five bitcoin ETFs, while GraniteShares and ProShares had each proposed two. Notably, all of the proposals included an inverse offering, while the Direxion proposal included inverse and leveraged offerings.
The SEC used the same reasoning—and in some cases even the same language—to disapprov
Regards,
Ted
https://www.etf.com/sections/features-and-news/sec-rejects-9-bitcoin-etf-proposals
