Cry me a One River. Another spot Bitcoin has been denied by the SEC, this tme by cryptocurrency-focused hedge fund One River Digital.
Crypto-focused hedge fund One River Digital’s application to list a Bitcoin spot ETF did not succeed in becoming the first to win regulator approval.
BTC ) spot exchange-traded fund (ETF) applications Friday when it disapproved a rule change to allow cryptocurrency-focused hedge fund One River Digital to offer the One River Carbon Neutral Bitcoin Trust on the New York Stock Exchange Arca.In a May 27 statement , the SEC said that the proposed rule change that would have cleared the product for a listing on the NYSE Arca exchange"has not met its burden under the Exchange Act and the Commission’s Rules of Practice to demonstrate that its proposal is consistent with the requirements of Exchange Act Section 6(b)(5), and in particular, the requirement that the rules of a national securities exchange be “designed to prevent fraudulent and manipulative acts and practices” and “to protect investors and the public interest.The United States Securities and Exchange Commission continues to deny applications for Bitcoin ETFs.ArrowRight Most recently I asked my spouse to be sure to say what they mean, then got yelled at because they said what they meant.
The decision comes somewhat ahead of schedule, as the agency had to allow more time for consideration.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.The One River Carbon Neutral Bitcoin Trust was." Specifically, the proposed rule change did not meet the SEC's rules around fraud prevention.On May 27th, the Commission issued a notice rejecting the proposed rule change to list and trade shares of the One River Carbon Neutral Bitcoin Trust under the NYSE Arca Rule 8.The SEC further clarified: “[..That’s what’s going on.
.More specifically, the watchdog outlined Section 6(b)(5) and precisely the requirement that the rules of a national securities exchange be “designed to prevent fraudulent and manipulative acts and practices” and “to protect investors and the public interest.] 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 , co-founder of Brevan Howard Asset Management.Related:.Most recently,.
Time to sue the SEC
SEC shoots down One River proposal for carbon-neutral bitcoin ETFA proposal for a bitcoin exchange-traded fund that incorporates the purchase of carbon credits in an effort to make it carbon-neutral has been rejected by the Securities and Exchange Commission (SEC). It's the exchanges. Since all of them are now supporting Terra 2.0 tbh I can see where the SEC is coming from 🤦♀️ give the people what they want and let them decide if they should invest who tf are they saying what we could do with our money
One River Carbon Neutral Bitcoin ETF Trust Denied by the SECThe United States Securities and Exchange Commission rejected yet another proposed rule change to list a Bitcoin ETF.
Perspective | Carolyn Hax: Spouses’ ‘project’ means one yells, one tiptoes aroundThey're supposed to be working on a project together, but one spouse keeps yelling no matter what the other one does.
Duo of Rocky River bank robbery suspects wanted by FBIBoth suspects approached two of the victim tellers and said they were armed and this was a robbery before handing over two demand notes, the FBI said.
FBI looking for 2 men who robbed US Bank bank in Rocky RiverThe Cleveland FBI is searching for two men who robbed U.S. Bank in Rocky River Friday afternoon. Pretty ballsy. That stretch of Detroit is pretty congested. I wonder if they went out the rear parking lot into the neighborhood.
Ukraine’s Forces Sink Russian River Crossings, Inflicting Heavy DamageBridging a river under enemy fire is one of the toughest tasks any land force can face. Russia is offering the world lessons in how not to do it Waay!! It’s a big big achievement!! If not a fake! When the victory parade?