‘Crypto Mom’ Accuses SEC of ‘Shifting Standards’ Following Bitcoin ETF Rejection

Cointelegraph | Feb 26, 2020 at 11:58 PM
  • The US Securities and Exchange Commision has rejected New York based firm Wilshire Phoenix’s Bitcoin Exchange Traded Fund (ETF) application, citing ongoing concerns over market manipulation and a lack of surveillance-sharing agreements.
  • The proposal included both US Treasury Bonds and Bitcoin and hoped to address the SEC’s concerns over market manipulation by automatically rebalancing into bonds during periods of BTC price volatility.
  • The SEC has rejected at least nine previous Bitcoin ETF applications to date including applications from Bitwise Asset Management, VanEck/SolidX and Direxion.