Bitcoin-Backed ETF Proposals Facing Regulatory Hurdles

[kreslik.news]

After the successful launch of Bitcoin futures in the US market, many firms started to push for the approval of Bitcoin ETFs. But now it seems that these exchange-traded-funds will not see the light of day anytime soon because of regulatory pushback.

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This week, five ETF fund managers have withdrawn their proposals to launch Bitcoin ETFs at the request of officials from the US Securities and Exchange Commission (SEC).

ProShares Trust was the latest firm to shelve its plans after Direxion Shares ETF Trust and Exchange Listed Funds ... (read more)