Here’s why the SEC keeps rejecting spot Bitcoin ETF applications

Recently the U.S. Securities and Exchange Commission (SEC) rejected another proposal for a Bitcoin spot exchange traded product (ETP) — The attempt made by Cboe BZX Exchange on January 25 to list the Fidelity Wise Origin Bitcoin Trust as a Bitcoin ETP.

Crypto investors still hope that the U.S. Securities and Exchange Commission will approve spot-based BTC ETP one day, but data shows they have good reason not to.

My recent CoinTelegraph publication investigates whether the SEC’s concerns of fraudulent and manipulative acts are justifiable by comparing the historic prices of 3 European listed ETPs and the Bitcoin spot price from 18 exchanges to see if there are any significant price disparities that could induce market manipulation.