.RepTomEmmer has criticized SECGov for its “baseless” rejection of Fidelity’s spot Bitcoin ETF
has criticized the U.S. Securities and Exchange Commission for shooting down a spot Bitcoin exchange-traded fund proposal that was filed by Fidelity’s Wise Origin Bitcoin Trust that was originally filed last March.Emmer, who’s known as one of the crypto-friendliest voices in US Congress, described the decision as “baseless.”
The SEC has once again cited concerns related to fraud prevention and investor protection as the reason behind the rejection.a spot-based Bitcoin ETF in Canada. It is trading on the Toronto Stock Exchange.Crypto Billionaire Backs New Democratic Super PACIn November, Emmer and Democratic lawmaker Darren Soto sent a letter to SEC Chairman Gary Gensler, making a compelling case for approving a Bitcoin ETF.
While the SEC greenlit the first futures-based Bitcoin ETF in October, the letter argues that spot-based ETFs are more efficient. A week ago, the formidable regulator also rejected the spot Bitcoin ETF proposal that was put forward by SkyBridge Capital and First Trust. Valkyrie and Kryptoin’s attempt was cut short by the SEC in late December. During the same month, the SEC rejected WisdomTree's application. During the same month, the SEC denied WisdomTree's application.
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