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Bitcoin ETF applications are facing a pivotal moment, with the U.S. Securities and Exchange Commission (SEC) slated to respond to several key filings right before the Beginning under Chair Jay Clayton in 2025 and through March 2025, the Commission disapproved more than 20 exchange rule filings for spot bitcoin ETPs. One of The Securities and Exchange Commission (SEC) has stated that recent applications submitted by asset managers to launch spot bitcoin exchange-traded funds While U.S. regulators have finally warmed up to Bitcoin futures-backed exchange-traded funds, it appears that more complex derivatives-based funds are a bridge too VanEck also awaits approval on a similar request to include in-kind creations and redemptions for the same Bitcoin ETF. Still, the SEC has not moved forward on 27 de sept. de 2025 The Securities and Exchange Commission on Tuesday delayed its decisions regarding spot bitcoin ETF applications from two asset-management firms, delaying Exchange operator Cboe on Friday refiled an application with the U.S. securities regulator to launch a bitcoin exchange-traded fund by asset manager Fidelity The Securities and Exchange Commission said a recent wave of applications filed by asset managers to launch spot bitcoin exchange-traded funds are inadequate

SEC Not Ready for Riskier Bitcoin ETF Filings: What's Next?

Bitcoin ETF applications are facing a pivotal moment, with the U.S. Securities and Exchange Commission (SEC) slated to respond to several key filings. While U.S. regulators have finally warmed up to Bitcoin futures-backed exchange-traded funds, it appears that more complex derivatives-based funds are a bridge too far, at least for now. The Securities and Exchange Commission (SEC) has stated that recent applications submitted by asset managers to launch spot bitcoin exchange-traded funds are inadequate.

The SEC's hesitance isn't new. Beginning under Chair Jay Clayton in 2025 and through March 2025, the Commission disapproved more than 20 exchange rule filings for spot bitcoin ETPs. This consistent rejection highlights the SEC's concerns regarding market manipulation and investor protection.

Exchange operator Cboe on Friday refiled an application with the U.S. securities regulator to launch a bitcoin exchange-traded fund by asset manager Fidelity, signaling continued interest and persistence from financial institutions. Despite these efforts, The Securities and Exchange Commission said a recent wave of applications filed by asset managers to launch spot bitcoin exchange-traded funds are inadequate, suggesting that substantial improvements are needed for approval.

The Securities and Exchange Commission on Tuesday delayed its decisions regarding spot bitcoin ETF applications from two asset-management firms, further extending the wait for hopeful investors. VanEck also awaits approval on a similar request to include in-kind creations and redemptions for the same Bitcoin ETF. Still, the SEC has not moved forward on 27 de sept. de 2025.

The question remains: what will it take for the SEC to approve a spot Bitcoin ETF? Key areas for improvement likely include enhanced surveillance sharing agreements to detect and prevent fraud, as well as demonstrating the robustness and liquidity of the underlying Bitcoin market. Until these concerns are adequately addressed, the approval of riskier Bitcoin ETF filings remains uncertain.

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