# One River’s spot Bitcoin ETF application rejected by SEC
Table of Contents
” One River’s spot Bitcoin ETF application rejected by SEC “
The commission wrote that, when considering One River’s proposed rule change, it applied “the same standard used in its orders considering previous proposals to list bitcoin-based commodity trusts.” Specifically, the proposed rule change did not meet the SEC’s rules around fraud prevention. The SEC further clarified:
“[…] disapproval of this proposed rule change does not rest on an evaluation of whether bitcoin, or blockchain technology more generally, has utility or value as an innovation or an investment.”
One River Digital was established in 2020 by Eric Peters, founder of One River Asset Management, and is reportedly backed by billionaire Alan Howard, co-founder of Brevan Howard Asset Management.
Related: Cathie Wood’s Ark and 21Shares refile for spot Bitcoin ETF
Among the financial organizations that have tried and failed to receive the SEC’s blessings on digital asset-based ETFs this year are Fidelity Investments, New York Digital Investment Group (NYDIG) and Global X, as well as Skybridge Capital.
Grayscale has been more militant in its efforts to receive approval for a spot-traded Bitcoin ETF. The digital asset manager has gone so far as to threaten to file suit against the SEC if its application is denied, and has recently launched a campaign to drum up public support for its application.
If you liked the article, do not forget to share it with your friends. Follow us on Google News too, click on the star and choose us from your favorites.
For forums sites go to Forum.BuradaBiliyorum.Com
If you want to read more News articles, you can visit our General category.